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MetaMask Launches Pooled Staking for ETH

Consensys, the Ethereum development firm, has introduced pooled staking for its renowned self-custodial wallet, MetaMask.

According to their announcement, MetaMask Pooled Staking simplifies the process of staking ETH, allowing users to earn ETH rewards while contributing to the blockchain’s security.

Traditionally, the Ethereum protocol mandates a minimum staking requirement of 32 ETH. This requirement also applied to validators operated by Consensys until now.

However, Consensys has now empowered MetaMask users to stake any amount of ETH they desire through MetaMask Portfolio, granting them access to staking rewards.

The team highlights key features of the new service:

– No minimum for staking.
– Earning rewards for staking ETH.
– Flexible unstaking, enabling users to withdraw their ETH at any time.
– Easy tracking of balances and rewards within MetaMask Portfolio.

Moreover, MetaMask Pooled Staking leverages the open modular architecture of StakeWise, a liquid staking protocol on Ethereum, to fuel some of its smart contracts.

Available to All Users Except the UK and the US

Upon its launch, MetaMask Pooled Staking won’t be accessible to all users immediately. Instead, it’ll be initially offered to “a portion of eligible users,” with a gradual rollout planned over the following days. A ConsenSys spokesperson stated to Cryptonews that the rollout commences upon announcement and is expected to reach “100% of eligible users by the end of the week.” Notably, users in the US or UK won’t have access during the initial launch phase. The spokesperson elaborated, stating, “At launch, the service will be available to any MetaMask Portfolio users not in the US or UK.”

However, the team has ambitions to extend the service to these regions as well. The spokesperson elucidated that the regulatory environment in the US is “still undergoing significant changes, especially regarding Ethereum staking policy.” Although no specific timeframe was provided, the team anticipates launching this product for US users as soon as advancements become more apparent.

Likewise, in the UK, regulators are expected to release additional regulatory guidance imminently, which is anticipated to modernize the existing framework and offer greater clarity to the staking market.

“We eagerly anticipate broadening the success of MetaMask Pooled Staking by introducing it to users in these regions soon,” the spokesperson remarked.

What the Numbers Say

The press release highlighted several significant details related to staking. According to blockchain data cited, a staggering 99% of ETH holders possess less than 32 ETH. This underscores the importance of solutions that enable staking smaller amounts of ETH to involve a broader audience.

Furthermore, it noted that currently, 74% of ETH remains unstaked, with the bulk of staked ETH concentrated in a few large pools. In this context, MetaMask Pooled Staking stands out, as it is supported by ConsenSys Staking. The ConsenSys Staking platform boasts an impressive infrastructure, including over 33,000 hosted Ethereum validators across multiple clouds, regions, and clients, with more than 1 million ETH staked. Notably, there have been zero slashed validators, and the validator participation rate exceeds 99.9%.

Considering these factors, MetaMask Pooled Staking emerges as a solution that democratizes staking, making it accessible to a broader user base. Moreover, it contributes to Ethereum’s decentralization and security. Matthieu Saint Olive, Senior Product Manager at ConsenSys, emphasized the significance of this development, stating, “MetaMask users now have an easy way to stake ETH in enterprise-grade validators while maintaining full control of their ETH.”

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