MetaMask launches pooled staking for Ethereum, excluding US and UK users

Source: The Block

  • MetaMask has rolled out a pooled staking service, enabling ether holders to stake any amount with validators operated by its developer, Consensys.
  • However, the new service is not available in all regions, with MetaMask users in the UK and U.S. initially restricted from accessing pooled staking.

MetaMask developer Consensys has launched pooled staking for its popular web3 wallet, enabling users to stake any amount of ether to contribute to Ethereum network security and earn validator rewards.

Before the launch, only users with at least 32 ETH (around $113,000), the minimum required by the Ethereum protocol, could stake natively in validators operated by the firm.

MetaMask users can unstake their ether at any time, but the process is subject to waiting times that may vary depending on the current Ethereum validator exit queue.

MetaMask’s pooled staking service is being rolled out in phases, available to a portion of eligible users from today and more over the coming days, using the open modular architecture of Ethereum liquid staking protocol StakeWise to power its smart contracts.

“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.”

Consensys Senior Product Manager Matthieu Saint Olive said in a statement.

Some 27.1% of ether supply is currently staked on the network, according to The Block’s data dashboard, with much of that in just a few large pools, Consensys said. By launching MetaMask pooled staking, the firm aims to make native Ethereum validator staking accessible to more users.

Liquid staking solutions, such as those from Lido and Rocket Pool, offer similar solutions for smaller amounts of ether without requiring a full 32 ETH. They also provide a liquid staking token based on the underlying asset that can be used elsewhere in DeFi and still accumulate staking rewards.

Not available in the US or UK

The initial launch will not be available to MetaMask users in the U.S. or UK amid regulatory uncertainty. However, Consensys said it does plan to eventually bring pooled staking to these markets as well.

Consensys claims MetaMask pooled staking is underpinned by over 33,000 hosted Ethereum validators in a multi-cloud, multi-region and multi-client infrastructure, with more than 1 million ETH staked, zero slashed (penalized) validators and more than a 99.9% validator participation rate.

Last month, MetaMask announced its intention to roll out support for Bitcoin for the first time, following similar moves from other web3 wallet providers like Phantom. In April, MetaMask integrated with Daylight to let users check their eligibility for airdrops and potential NFT claims.

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