MetaMask has rolled out pooled staking for Ethereum, barring users from the US and UK. ConsenSys, the developer of MetaMask, has launched this feature for its extensively utilized web3 wallet. It allows users to stake any quantity of ether to support the security of the Ethereum network and receive validator rewards.
Previously, only users with a minimum of 32 ETH (approximately $113,000), as required by the Ethereum protocol, could stake natively in validators operated by the firm. With the launch of MetaMask’s pooled staking service, users can now stake any amount of ether and still earn rewards.
MetaMask users have the flexibility to unstake their ether at any time. However, the unstaking process is subject to waiting times, which may vary based on the current Ethereum validator exit queue.
The rollout of MetaMask’s pooled staking service will occur in phases, starting with a portion of eligible users gaining access today, with more users being onboarded over the coming days. The service utilizes the open modular architecture of Ethereum liquid staking protocol StakeWise to power some of its smart contracts.
Matthieu Saint Olive, ConsenSys Senior Product Manager, expressed excitement about the launch, stating, “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 making Ethereum more secure. We’re excited to bring our staking solution to many more MetaMask users.”
Based on The Block’s data dashboard, around 27.1% of the total ether supply is presently staked on the Ethereum network, predominantly within several large pools. ConsenSys endeavors to democratize native Ethereum validator staking for a wider audience by introducing MetaMask pooled staking.
Liquid staking solutions, such as those provided by Lido and Rocket Pool, offer similar solutions for smaller amounts of ether without requiring a full 32 ETH. Additionally, they provide a liquid staking token based on the underlying asset, which can be utilized in DeFi platforms while still accruing staking rewards.