MetaMask, a popular self-custodial wallet developed by Consensys, has launched a new pooled staking feature for Ethereum, which allows users to stake any amount of ETH and earn rewards.
Smallholders LFG!
The new feature, called the not so surprising name MetaMask Pooled Staking, is designed to make it easier and cheaper for users to stake their ETH.
Traditionally, staking on Ethereum requires a minimum of 32 ETH (not cheap), and Consensys validators adhered to this requirement until now.
But from now with the new feature, MetaMask users can stake any amount of ETH through MetaMask Portfolio.
MetaMask Pooled Staking is being rolled out gradually and is currently unavailable to users in the US and UK.
According to a Consensys spokesperson, the service will be open to all eligible users, except those in these two countries, by the end of the week, as the regulatory challenges in the US and UK are delaying the launch in these regions.
The team expects to introduce the service in these areas once the regulatory landscape becomes clearer, which is the polite way to tell once they aren’t too hostile anymore.
1% vs. the 99%
The press release highlighted some important statistics about ETH staking. It noted that 99% of ETH holders have less than 32 ETH, which is why pooled staking solutions are becoming more popular.
As of now, only 26% of ETH is currently staked, with a bigger portion held in large pools.
Consensys Staking supports MetaMask Pooled Staking and boasts over 33,000 hosted Ethereum validators, more than 1 million ETH staked, zero slashed validators, and a participation rate exceeding 99.9%.
Bigger audience, bigger decentralization
This new feature not only makes staking more accessible to a bigger audience but they say it’s also supports Ethereum’s decentralization and security.
Matthieu Saint Olive, a Senior Product Manager at Consensys, told that MetaMask users now have a simplified way to stake ETH with enterprise-grade validators while keeping full control of their assets.
Many thinks that this initiative could lead to increased user participation in staking, further securing and decentralizing the Ethereum network.
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