Introducing Role-Based Permissions For Institutional Staking Management on Figment

Justin Chitla
Product Manager
Published
February 21, 2024

We are thrilled to announce the introduction of role-based permissions when using your Figment account, a feature designed to redefine how institutions manage their staking operations. This is another step in Figment’s mission to support institutions in their staking journey.

Role-Based Permissions

Role-Based permissions in the Figment app provides granular control over who can stake/unstake, access API keys, and view certain data. By delineating roles into Admin, Analyst, Developer, and Viewer categories, we ensure that only authorized personnel have access to critical functionalities.

• Admins hold the highest level of access within the team, granting them not only the ability to stake and unstake but also the authority to manage team configurations and assign roles.
• Analysts are vested with the capability to stake and unstake, aligning with their strategic and analytical roles in managing assets. This ensures that decision-making remains in the hands of those with the most insight into your institution’s staking strategies.
• Developers have access to managing the API keys of your staking infrastructure.
• Viewers can monitor and report on staking activities, providing transparency and oversight without the ability to change anything.

These permissions fortify security but also foster a collaborative environment where each team member can contribute their expertise without overstepping boundaries.

Why This Matters for Institutions

For institutions venturing into or expanding their footprint in the staking world, the potential risks and rewards are significant. The ability to manage team dynamics efficiently while safeguarding operational integrity is not just a convenience—it’s a necessity.

Benefits for Institutions:

• Compliance and Security: In a space where regulatory compliance and internal controls are paramount, our feature set provides the tools you need to enforce policies and maintain a robust governance structure.
• Operational Efficiency: Streamlining team management and clear role definitions eliminate bottlenecks and confusion, ensuring that your team can operate like a well-oiled machine.
• Scalability: As your institution grows, our platform scales with you. Adding or modifying team members and their roles can be done in a few clicks, allowing you to focus on your core staking strategies without worrying about administrative overhead.

In conclusion, this new improvement to the Figment app represents a leap forward in how institutions can manage their staking operation.

By offering granular control over staking operations and enhancing team collaboration, Figment is setting a new standard for security, efficiency, and scalability with Figment.

The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax or investment advice. Figment undertakes no obligation to update the information herein.

About Figment
Figment is the leading provider of staking infrastructure. Figment provides the complete staking solution for over 1500 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders, to earn rewards on their digital assets.