Metamask annouces ETH Staking

Metamask Announces Ethereum Staking

MetaMask announced today its Pooled Staking function, allowing users to stake any amount of Ether (ETH) and earn rewards directly within the wallet. This new feature from Consensys enables participation in Ethereum’s security, which was previously restricted to those with 32 ETH or more.

“With Pooled Staking, MetaMask users now have an easy way to stake ETH in enterprise-grade validators while maintaining full control of their ETH, earning rewards, and enhancing Ethereum’s security,” stated Matthieu Saint Olive, Senior Product Manager at Consensys. “We’re excited to bring our staking solution to many more MetaMask users.”

The majority of ETH holders possess less than 32 ETH, so MetaMask aims to democratize access to staking rewards with this innovative solution. Initially, the service is available to select users, with plans to expand to the US and UK markets.

MetaMask Pooled Staking is supported by Consensys Staking, which boasts over 33,000 hosted Ethereum validators. This infrastructure operates in a multi-cloud, multi-region, and multi-client environment, with over 1 million ETH staked. The validators have maintained a 99.9+% participation rate and have not been slashed.

ETH staking is a crucial component of the Ethereum ecosystem. According to on-chain data platform Nansen, 27% of the token’s total supply, nearly 33 million ETH, is locked in smart contracts. Liquid restaking has also gained momentum, representing over 34% of the total value locked in decentralized finance (DeFi).

By offering Pooled Staking, MetaMask enhances the accessibility of ETH staking, enabling more users to contribute to the network’s security and earn rewards. This move is expected to significantly impact the Ethereum staking landscape, aligning with MetaMask’s mission to provide robust and user-friendly solutions for the crypto community.

Leave a Comment

Your email address will not be published. Required fields are marked *