Metamask has launched pooled staking to enable ETH holders to stake in validators operated by Consensys regardless of the amount of Ethereum they hold.
The launch will empower more people to be rewarded for securing the Ethereum network.
Pooled Staking On Metamask Available For Some Users
The leading self-custodial wallet for over 100 million users annually, Metamask, has launched pooled staking for some eligible users. It uses the open modular architecture of the Ethereum-based liquid staking protocol StakeWise to power some of its smart contracts. ETH holders can stake in advanced validators operated by Consensys, regardless of the amount of tokens they hold.
“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,” Matthieu Saint Olive, Senior Product Manager at Consensys, said.
Read More: What Is Crypto Staking? A Guide to Earning Passive Income
MetaMask Pooled Staking brings more efficiency and, more importantly, increased access. Previously, one would need at least 32 ETH to stake on Consensys-based validators. Blockchain data indicates that portfolios with at least 32 ETH account for only 1% of the holders.
Therefore, the launch is a landmark development in the Ethereum community as a staking solution with no caps. It offers a chance to stake more ETH by eliminating entry barriers for the remaining 99% of token holders.
Stakers reserve the right to unstake their holdings at any time, though time would vary based on the Ethereum validator exit queue protocol. Notably, while the feature is available to all eligible ETH holders, those in the US and the UK may not be accessible yet.
MetaMask Advances Toward More Interoperability
The MetaMask Pooled Staking is part of the self-custodial wallet’s commitment to provide more interoperability. In May, reports indicated plans to expand beyond Ethereum by integrating Bitcoin support. If this happens, it will increase Metamask’s appeal to a broader crypto audience, even as it promises a more versatile and user-friendly experience for crypto enthusiasts.
“We’re excited about MetaMask’s commitment to embracing the multi-chain world of Web3 and continually exploring new integrated features to enhance the usability and security of the leading self-custodial wallet. While we can’t confirm any timeline for specific developments at this time, we’re always working on innovations to serve our users better. Stay tuned for further updates when we’re ready to share more,” a MetaMask spokesperson stated.
Read More: Yield Farming vs. Staking: Which One Is Better?
Currently, MetaMask does not provide direct support for the Bitcoin blockchain. Users wishing to make Bitcoin-related transactions in MetaMask must use Wrapped Bitcoin (WBTC), an ERC-20 standard token representing Bitcoin on the Ethereum blockchain, or use MetaMask’s feature, Snaps.
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