MetaMask Introduces Shared Staking for Ethereum
Consensys, a leading developer firm for Ethereum, has unveiled pooled staking for its renowned self-custodial wallet, MetaMask. This new offering, known as MetaMask Pooled Staking, simplifies the process of staking ETH and allows users to earn rewards for enhancing the blockchain’s security.
Traditionally, the Ethereum protocol required a minimum of 32 ETH for staking. This minimum amount was also applicable to validators operated by Consensys. However, with the launch of MetaMask Pooled Staking, users can now stake any desired amount of ETH through the MetaMask Portfolio and earn staking rewards at the same time.
Key features of this new service include the absence of a minimum staking requirement, the ability to earn rewards for staking ETH, flexible unstaking options, and easy monitoring of balances and rewards within the MetaMask Portfolio. To power certain smart contracts, MetaMask Pooled Staking leverages the open modular architecture of StakeWise, a liquid staking protocol on Ethereum.
Although MetaMask Pooled Staking is not initially available to all users, it is being gradually rolled out to eligible users. While the service is currently unavailable in the US and UK, Consensys aims to extend it to these regions in the future. The team is closely monitoring regulatory developments in these areas to ensure compliance.
Statistics shared in the press release highlight the significance of solutions that enable staking smaller amounts of ETH, as 99% of ETH holders possess less than 32 ETH. Additionally, only 74% of ETH is currently staked, with a majority of it concentrated in large pools. MetaMask Pooled Staking, supported by Consensys Staking, aims to make staking more accessible to users while contributing to the decentralization and security of the Ethereum network.
In conclusion, MetaMask Pooled Staking offers MetaMask users a convenient way to stake ETH in top-tier validators while retaining full control over their assets. This innovative feature not only benefits individual users but also strengthens the overall Ethereum ecosystem.