Figment

To build a better Internet by becoming the trusted infrastructure layer for the decentralized Web3 economy.

Figment SWOT Analysis

Updated: October 1, 2025 • 2025-Q4 Analysis

How to Use This Analysis

This analysis for Figment was created using Alignment.io™ methodology - a proven strategic planning system trusted in over 75,000 strategic planning projects. We've designed it as a helpful companion for your team's strategic process, leveraging leading AI models to analyze publicly available data.

While this represents what AI sees from public data, you know your company's true reality. That's why we recommend using Alignment.io and The System of Alignment™ to conduct your strategic planning—using these AI-generated insights as inspiration and reference points to blend with your team's invaluable knowledge.

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The Figment SWOT analysis reveals a company at a critical inflection point. Its core strengths—unmatched protocol support and deep institutional trust—provide a formidable moat. However, it faces the dual pressures of commoditization from exchanges and decentralization from liquid staking protocols. The primary challenge is to translate its infrastructure leadership into an undeniable product and platform advantage. The key priorities correctly identify the path forward: doubling down on the institutional market where trust is paramount, aggressively capturing the nascent but explosive restaking opportunity, winning the developer mindshare through superior tooling, and navigating the treacherous regulatory waters. Success hinges on leveraging its trusted position to innovate faster and more securely than any competitor, transforming from an infrastructure provider into the foundational layer of the institutional Web3 economy.

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No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To build a better Internet by becoming the trusted infrastructure layer for the decentralized Web3 economy.

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Strengths

PROTOCOLS: Unmatched support for 50+ PoS networks, a key differentiator
INSTITUTIONAL: Deep trust with custodians like BitGo, Fireblocks, Ledger
SECURITY: Flawless uptime and no slashing events builds immense trust
FUNDING: Strong $110M Series C provides a long runway for innovation
TEAM: Co-founders possess deep, respected Web3 infrastructure expertise

Weaknesses

COMPLEXITY: Developer tools (DataHub) have a steeper learning curve
BRAND: Lower brand recognition among retail compared to CEX staking
DECENTRALIZATION: Perceived as a centralized provider vs. liquid protocols
PRICING: Higher commission fees than some smaller, leaner competitors
HIRING: Intense competition for scarce Web3 infrastructure talent

Opportunities

RESTAKING: EigenLayer and other restaking protocols create a new market
ETHEREUM: Post-Dencun L2 growth requires robust node infrastructure
INSTITUTIONAL: Growing institutional demand for compliant staking yield
MODULAR: Rise of modular blockchains (Celestia) opens new infra needs
DATA: Monetize unique on-chain data via advanced analytics & APIs

Threats

REGULATION: SEC scrutiny of staking-as-a-service models is a major risk
COMPETITION: Lido and Rocket Pool's network effects in liquid staking
COMMODITIZATION: Centralized exchanges offering zero-fee staking promos
VOLATILITY: Crypto market downturns reduce total value staked and fees
TECHNOLOGY: Rapidly evolving tech requires constant R&D investment

Key Priorities

INSTITUTIONAL: Deepen institutional trust via compliance and new products
INNOVATION: Capture the restaking market to create a new growth engine
DEVELOPERS: Simplify developer experience to accelerate dApp ecosystem growth
RISK: Proactively navigate the regulatory landscape to ensure longevity

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Figment OKR

Updated: October 1, 2025 • 2025-Q4 Analysis

This Figment OKR plan is a masterclass in strategic focus. It wisely leverages core strengths in institutional trust while aggressively attacking high-growth frontiers like restaking and developer tooling. The objectives are inspirational, and the key results are concrete, measurable, and directly address the SWOT's primary conclusions. This plan doesn't just aim for incremental growth; it's a clear blueprint to solidify Figment's position as the indispensable, intelligent, and trusted infrastructure layer for the entire Web3 economy.

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No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To build a better Internet by becoming the trusted infrastructure layer for the decentralized Web3 economy.

OWN INSTITUTIONAL

Become the undisputed staking leader for institutions.

COMPLIANCE: Achieve SOC 2, Type II certification for our primary staking infrastructure to win top-tier financial clients.
ONBOARDING: Reduce the institutional client onboarding time from 14 days to 3 days via a new self-service portal.
PRODUCTS: Secure $1B in assets under management for our new, actively managed institutional staking strategies.
PARTNERSHIPS: Double the number of active integrations with leading digital asset custodians and asset managers.

WIN RESTAKING

Capture the next wave of Web3 value creation.

TVS: Become a top 3 operator on EigenLayer by restaked ETH value, capturing at least 10% of the network's total.
AVS-SUPPORT: Launch secure validation services for the top 5 most anticipated Actively Validated Services (AVSs).
YIELD: Deliver a liquid restaking token (LRT) that provides a 20% higher yield than baseline ETH staking.
INTEGRATION: Integrate our restaking services into the product offerings of 3 major institutional custody partners.

EMPOWER DEVS

Make building on Web3 10x easier and faster.

DATAHUB: Increase monthly active developers using DataHub by 50% through improved documentation and new SDKs.
AI-API: Launch a new AI-powered predictive analytics API tier and secure 100 paying enterprise customers for it.
LATENCY: Decrease p95 API latency by 40% for our top 10 most used endpoints to provide a superior experience.
SUPPORT: Achieve a 95% developer satisfaction score (CSAT) for our technical support and community channels.

LEAD ON RISK

Set the industry standard for security and compliance.

AI-SECURITY: Deploy an AI-based anomaly detection system that reduces false-positive security alerts by 70%.
REPORTING: Launch an automated compliance reporting suite for institutional clients covering three major jurisdictions.
POLICY: Publish a comprehensive 'State of Staking Regulation' report, establishing us as a thought leader.
INSURANCE: Secure an expanded insurance policy that covers 100% of staked assets against slashing events.

METRICS

Total Value Staked (TVS): $15B
Net Revenue: $200M
Active Developers: 25,000

VALUES

Build a Better Internet
Decentralization Matters
Think Like an Owner
Be an Excellent Human

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Figment Retrospective

AI-Powered Insights

Claude

Gemini

GPT

Figment Official Website (figment.io)
Figment Series C Funding Announcement (Dec 2021)
Industry reports on staking and Web3 infrastructure (Messari, The Block)
Competitor analysis (Coinbase Cloud, Blockdaemon, Lido)
Crypto industry news outlets (CoinDesk, Decrypt)
Figment's G2 customer review page

Coinbase Cloud Blockdaemon Lido Finance Chorus One P2P.org

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To build a better Internet by becoming the trusted infrastructure layer for the decentralized Web3 economy.

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What Went Well

EXPANSION: Successfully added support for 10+ new protocols, incl. modular.
RESTAKING: Rapidly launched initial support for EigenLayer restaking.
PARTNERSHIPS: Secured key integrations with new institutional custodians.
UPTIME: Maintained 99.99% uptime across all major protocols during volatility.
GOVERNANCE: Increased role in on-chain governance, enhancing brand value.

Not So Well

DATAHUB: Slower-than-projected growth for premium DataHub API tiers.
HIRING: Key engineering roles remained open longer than planned.
LIQUID-STAKING: Lost some ETH market share to liquid staking protocols.
MARKETING: Brand message struggled to cut through the noise of the bull market.
ONBOARDING: Institutional client onboarding process remains too high-touch.

Learnings

SPEED: Market rewards speed; being first on new protocols is critical.
YIELD: Raw yield is not enough; capital efficiency (via restaking) is key.
DEVELOPERS: Developer experience is a powerful, albeit long-term, moat.
NARRATIVE: Must own the 'institutional-grade' narrative more aggressively.
AUTOMATION: Manual processes are limiting our ability to scale efficiently.

Action Items

PRODUCT: Launch a self-service institutional onboarding portal by Q4.
ENGINEERING: Double down on restaking products and ETH L2 support.
MARKETING: Launch targeted campaign on 'Security & Compliance for Staking'.
DEVELOPERS: Release new SDKs to simplify DataHub integration.
HR: Implement more aggressive recruitment program for infra engineers.

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Organization	SWOT Analysis	OKR Plan	Top 6	Retrospective

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Figment Market

AI-Powered Insights

Claude

Gemini

GPT

Figment Official Website (figment.io)
Figment Series C Funding Announcement (Dec 2021)
Industry reports on staking and Web3 infrastructure (Messari, The Block)
Competitor analysis (Coinbase Cloud, Blockdaemon, Lido)
Crypto industry news outlets (CoinDesk, Decrypt)
Figment's G2 customer review page

Founded: 2018
Market Share: ESTIMATE: 5-8% of institutional staking market
Customer Base: Institutional investors, custodians, exchanges, token treasuries, developers
Category:
Blockchain Infrastructure
SIC Code: 7374 Computer Processing and Data Preparation and Processing Services
NAICS Code: 518210 Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services
Location: Toronto, Ontario
Zip Code: M5V 2B5
Employees: 280

Competitors

Coinbase Cloud Request Analysis

Blockdaemon View Analysis

Lido Finance Request Analysis

Chorus One Request Analysis

P2P.org Request Analysis

Products & Services

No products or services data available

Distribution Channels

Figment Business Model Analysis

AI-Powered Insights

Claude

Gemini

GPT

Figment Official Website (figment.io)
Figment Series C Funding Announcement (Dec 2021)
Industry reports on staking and Web3 infrastructure (Messari, The Block)
Competitor analysis (Coinbase Cloud, Blockdaemon, Lido)
Crypto industry news outlets (CoinDesk, Decrypt)
Figment's G2 customer review page

Problem

Staking is complex, risky, and insecure
Web3 data is fragmented and inaccessible
Institutions lack a compliant on-ramp

Solution

Secure, reliable staking-as-a-service
Unified multi-chain API suite (DataHub)
Enterprise-grade compliance and reporting

Key Metrics

Total Value Staked (TVS)
Net Staking Revenue
Number of Active Developers on DataHub

Unique

Unrivaled breadth of protocol support
Deep, hands-on protocol engineering
Trusted brand for security & compliance

Advantage

Operational excellence at scale
Early mover advantage with protocols
Embedded with top custodians & exchanges

Channels

Direct enterprise sales team
Partnerships (custodians, wallets)
Developer relations and content marketing

Customer Segments

Institutional Investors & Hedge Funds
Protocol Foundations & DAOs
Web3 Developers & dApp Builders

Costs

Infrastructure (servers, bandwidth)
Engineering & Security Talent (Salaries)
Sales & Marketing Expenses

Figment Product Market Fit Analysis

Updated: October 1, 2025

Figment provides institutional-grade infrastructure for the decentralized internet. It empowers asset managers to securely generate yield through staking and helps developers build next-gen applications faster with reliable data APIs. This is achieved by mitigating the core risks and complexities of Web3, unlocking the full potential of the digital asset economy for institutions and builders alike.

Yield Generation: Maximize secure returns on digital assets.

Risk Mitigation: Eliminate operational complexity and slashing risk.

Web3 Acceleration: Build faster with reliable infrastructure & data.

Before State

Complex and risky self-managed staking
Fragmented data access for developers
Lack of institutional-grade security

After State

Secure, effortless, and compliant staking
Unified API for multi-chain data access
Institutional confidence in Web3 assets

Negative Impacts

High operational overhead and slashing risk
Slow dApp development and time-to-market
Compliance and security hurdles block entry

Positive Outcomes

Maximized staking rewards with minimized risk
Accelerated Web3 application development
Unlocking institutional capital for Web3

Key Metrics

Customer Retention Rates

Est. >95% for institutional clients

Net Promoter Score (NPS)

Est. 60-70 among institutions

User Growth Rate

20-30% YoY in active developers on DataHub

Customer Feedback/Reviews

4.8/5 on G2 from 20+ reviews

Repeat Purchase Rates)

High; clients add new assets to stake

Requirements

Robust, multi-cloud node infrastructure
Deep protocol-specific expertise
Enterprise-level reporting and support

Why Figment

Expert DevOps and security teams 24/7
Dedicated protocol research and engineers
White-glove service for institutions

Figment Competitive Advantage

Years of operational experience at scale
Trusted brand among protocols & institutions
Comprehensive suite: staking, data, liquid

Proof Points

Over $5B in assets successfully staked
Trusted by leading custodians and exchanges
Active participant in over 50 protocols

Figment Market Positioning

AI-Powered Insights

Claude

Gemini

GPT

Figment Official Website (figment.io)
Figment Series C Funding Announcement (Dec 2021)
Industry reports on staking and Web3 infrastructure (Messari, The Block)
Competitor analysis (Coinbase Cloud, Blockdaemon, Lido)
Crypto industry news outlets (CoinDesk, Decrypt)
Figment's G2 customer review page

Strategic pillars derived from our vision-focused SWOT analysis

Become the gold standard for secure staking.

Deeply integrate with leading L1s & L2s.

Win hearts and minds with superior tools.

Innovate on yield and restaking products.

What You Do

Provides institutional-grade blockchain staking and developer tools.

Target Market

Institutions, developers, and protocols needing secure Web3 access.

Differentiation

Unrivaled protocol support (>50 networks)
Enterprise-grade security & compliance
Deep protocol R&D and contributions

Revenue Streams

Staking-as-a-Service commissions
Data API (DataHub) subscriptions

Figment Operations and Technology

AI-Powered Insights

Claude

Gemini

GPT

Figment Official Website (figment.io)
Figment Series C Funding Announcement (Dec 2021)
Industry reports on staking and Web3 infrastructure (Messari, The Block)
Competitor analysis (Coinbase Cloud, Blockdaemon, Lido)
Crypto industry news outlets (CoinDesk, Decrypt)
Figment's G2 customer review page

Company Operations

Organizational Structure: Functional with geographic business units
Supply Chain: Multi-cloud, multi-region bare metal servers for node operation.
Tech Patents: Focus on operational security, trade secrets over patents.
Website: https://www.figment.io/

Top Clients

Board Members

Figment Competitive Forces

Threat of New Entry

MEDIUM: Capital requirements are high for secure, at-scale operations, but smaller validators can enter niche protocol markets.

Supplier Power

LOW: Cloud providers (AWS, GCP) and hardware vendors are commoditized, though Figment diversifies to mitigate this.

Buyer Power

MEDIUM: Large institutional clients can negotiate on fees, but high switching costs (unbonding periods) provide some stickiness.

Threat of Substitution

HIGH: Liquid staking tokens (LSTs) offer a compelling alternative with immediate liquidity, bypassing traditional staking providers.

Competitive Rivalry

HIGH: Intense rivalry from specialized providers (Blockdaemon), decentralized protocols (Lido), and large exchanges (Coinbase).

Analysis of AI Strategy

Updated: October 1, 2025 • 2025-Q4 Analysis

Using AI to build a better Internet by becoming the trusted infrastructure layer for the decentralized Web3 economy.

Coinbase Cloud Blockdaemon Lido Finance Chorus One P2P.org

No past cycles

Mission & Vision SWOT Analysis OKR Plan Retrospective AI Strategy Data Acquisition

To build a better Internet by becoming the trusted infrastructure layer for the decentralized Web3 economy.

Strengths

DATA: Access to proprietary real-time data from nodes on 50+ chains
EXPERTISE: Deep domain knowledge to inform feature engineering for models
INFRASTRUCTURE: Existing global server footprint for model deployment
CLIENTS: Direct channel to institutions to validate AI-driven products
POSITION: Uniquely positioned to analyze cross-chain interactions/trends

Weaknesses

TALENT: Lack of a large, dedicated AI/ML research and engineering team
FOCUS: Core business is infrastructure, not AI, creating resource tension
COMPUTE: Insufficient dedicated GPU compute resources for training LLMs
TOOLING: Limited internal MLOps and data labeling infrastructure in place
STRATEGY: No publicly stated, coherent AI strategy to rally the team

Opportunities

PREDICTIVE: AI models to predict network performance and optimize staking
SECURITY: Anomaly detection to preemptively identify network or security risks
AUTOMATION: AI-driven automation of node operations and network upgrades
INSIGHTS: Offer premium AI-powered on-chain data insights via DataHub
DEVELOPERS: AI-powered tools to simplify smart contract auditing/deployment

Threats

COMPETITORS: Blockdaemon or Coinbase Cloud could out-invest in AI tooling
OPEN-SOURCE: Publicly available AI models could commoditize basic insights
ACCURACY: Reputational damage from inaccurate AI predictions or failures
COST: High cost of acquiring AI talent and compute could hurt margins
DATA-PRIVACY: Navigating data usage for AI training amid privacy concerns

Key Priorities

OPTIMIZATION: Use AI to optimize staking yields and operational efficiency
SECURITY: Develop AI-powered security monitoring to reduce slashing risk
DATA-PRODUCTS: Launch a premium AI-driven analytics product on DataHub
EFFICIENCY: Automate routine operational tasks to scale the business

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Figment Financial Performance

AI-Powered Insights

Claude

Gemini

GPT

Figment Official Website (figment.io)
Figment Series C Funding Announcement (Dec 2021)
Industry reports on staking and Web3 infrastructure (Messari, The Block)
Competitor analysis (Coinbase Cloud, Blockdaemon, Lido)
Crypto industry news outlets (CoinDesk, Decrypt)
Figment's G2 customer review page

Profit: Not publicly disclosed (private company)

Market Cap: $1.4B (as of Dec 2021 Series C)

Annual Report: Not publicly available

Debt: Minimal to none; venture-backed.

ROI Impact: ROI driven by staking yields and network growth.

SWOT Index

Composite strategic assessment with 10-year outlook

/ 100

Market Leader

ICM Index

STRATEGIC ADVISOR ASSESSMENT

Figment has a high-ambition vision (Societal: 85) to power the Web3 economy. Achievability is strong (0.75) as its OKRs directly address key weaknesses (e.g., developer experience) and threats (regulation). The SWOT is balanced, showing significant upside but also severe competitive and regulatory threats. The OKRs are category-shaping but not yet world-shaping. The growth multiplier is tempered by high market competition, but strong execution on its institutional and restaking strategy could unlock exponential growth.

SWOT Factors

Upside: 83.3 Risk: 80.0

OKR Impact

AI Leverage

Top 3 Strategic Levers

Aggressively capture the nascent restaking (EigenLayer) market.

Solidify institutional moat with compliance (SOC 2) and tooling.

Translate data advantage into premium AI-powered developer APIs.

AI Disclosure

This report was created using the Alignment Method—our proprietary process for guiding AI to reveal how it interprets your business and industry. These insights are for informational purposes only and do not constitute financial, legal, tax, or investment advice.

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