MetaMask launches Ethereum staking pool, users can stake any amount of ETH

Author: James Hunt, The Block; Translator: Tao Zhu, Golden Finance

Abstract

• MetaMask has launched a stake pool service that allows Ethereum holders to stake any amount of tokens to validators operated by its developer Consensys.

• However, the new service is not available in all regions, and MetaMask users in the UK and the US will initially not be able to access the stake pool.

MetaMask developer Consensys has launched a stake pool for its popular web3 wallet, allowing users to stake any amount of Ethereum to contribute to the security of the Ethereum network and receive validator rewards.

Prior to launch, only users with at least 32 ETH (about $113,000) - the minimum required by the Ethereum protocol - could stake natively in validators operated by the company.

MetaMask users can unstake Ethereum at any time, but the process requires a waiting time that may vary depending on the current Ethereum validator exit queue.

MetaMask’s stake pool service is being rolled out in phases, starting today to some eligible users and to more users in the coming days, using the open modular architecture of Ethereum liquid staking protocol StakeWise to power its smart contracts.

Consensys senior product manager Matthieu Saint Olive said in a statement: "With stake pool staking, MetaMask users can now easily stake ETH to enterprise-grade validators while maintaining full control of their ETH, earning rewards and making Ethereum more secure.""We are excited to bring our staking solution to more MetaMask users."

According to The Block's data dashboard, about 27.1% of Ethereum on the network is currently staked, most of which is held in just a few large pools, Consensys said. With the launch of MetaMask Staking Pools, the company aims to enable more users to stake using native Ethereum validators.

Liquidity staking solutions such as Lido and Rocket Pool offer similar solutions for smaller amounts of Ethereum without the need for a full 32 ETH. They also offer liquid staking tokens based on the underlying asset that can be used elsewhere in DeFi and still accumulate staking rewards.

Not Available in the US or UK

Due to regulatory uncertainty, MetaMask will not be available in the US or UK at launch. However, Consensys says it does plan to eventually bring stake pools to those markets.

Consensys claims that MetaMask stake pools are powered by more than 33,000 Ethereum validators hosted in a multi-cloud, multi-region, and multi-client infrastructure, with over 1 million ETH staked, zero slashed (penalized) validators, and a validator participation rate of over 99.9%.

Last month, MetaMask announced its intention to launch support for Bitcoin for the first time, following similar moves by other web3 wallet providers such as Phantom. In April, MetaMask integrated with Daylight, allowing users to check if they are eligible for airdrops and potential NFT claims.