Introducing Rewards Reporting and Onchain Billing for Staking
December 12, 2024
TLDR
Coinbase Developer Platform (CDP) is excited to announce the launch of rewards reporting and onchain billing for our Staking API!
The new reporting dashboard enables custodians, wallet providers, and other integrators of CDP’s Staking API to seamlessly track staking performance from within the CDP portal. Integrators can also download detailed earnings reports to better understand performance. With onchain billing, integrators and their users now receive their net rewards entirely onchain, avoiding cumbersome manual commission fee invoicing and complicated ledgering.
These new features are currently available for ETH staking with support for SOL coming soon.
Rewards Reporting
For integrators offering staking to their users, this launch allows for data reconciliation between expected earnings and the rewards being passed on to users.
Integrators can access rewards reporting in the CDP portal from the new Earnings tab (accessible from the Project page). There, they will see their ETH rewards data aggregated and populated within a personalized interactive dashboard. PDF and CSV reports can be generated on demand for a more detailed breakdown of all staking positions, itemized validators, individual earned rewards, and commission fees.
The same data that powers Coinbase's institutional products power CDP’s staking data and Earnings dashboard. Rest assured that your dashboard provides trusted, reliable performance data.
Note: Dashboard access will auto-rollout over the following weeks. Rewards data will begin populating once you have staked over Ethereum mainnet via the Staking API.
Onchain Billing
Moving billing onchain streamlines staking reward fee collection and revenue share payouts, making it even easier to add staking to your platform. For integrators offering Dedicated ETH staking, onchain billing simplifies invoicing and makes it possible to scale ETH offerings without increasing operational overhead.
Dedicated ETH rewards flow through a non-custodial onchain splitter contract which automatically pays out any owed commission fees, simplifying the invoicing and ledgering processes for integrators and their end users. This makes life easier for end users, who previously were invoiced twice; by the platform provider and Coinbase separately.
Our onchain billing smart contracts are all non-custodial, meaning neither Coinbase nor any third party has direct control of gross rewards.
How It Works
Prior to using the Staking API, integrators must provide the address to which they want rewards sent. Once this is established, Coinbase deploys a non-custodial onchain rewards splitter contract to receive all ETH execution layer rewards (20% of total rewards) generated by the integrator’s ETH validators.
The rewards splitter distributes rewards to the user, integrating platform, and Coinbase in line with previously agreed upon commission rates. Distributions automatically occur on a monthly basis, but can also be invoked on demand by any onchain wallet.
Start Staking
Those who have already integrated the Staking API into their products will have automatic access to these new features as they roll out.
Looking to add Coinbase’s trusted staking infrastructure and performance monitoring to your products?
Use our API to build staking experiences for your users with just three lines of code. Visit our staking docs to start building in Typescript, Golang, and Ruby, or get in touch with our team to learn more.
Disclaimer
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