MetaMask launches ETH staking pool, suitable for individual users
With the new feature, users can stake less than the minimum requirement of 32 ETH and still contribute to securing the Ethereum network and receive validator rewards.
On June 12, 2024, blockchain technology company Consensys - the developer of MetaMask - launched an Ethereum (ETH) staking pool for its popular web3 wallet with the name "Metamask Pooled Staking". The service uses the open modular architecture of the StakeWise liquid staking protocol to support a number of smart contracts.
Before launch, only users who owned a minimum of 32 ETH (about 113,000 USD) as required by the Ethereum protocol, could stake directly into validators operated by the company. With the new feature, users can stake ETH below the minimum requirements and still contribute to Ethereum network security and receive validator rewards.
Not only that, MetaMask users can optionally unstake ETH at any time, but this process depends on the validator's position in the Ethereum network's Exit Queue.
According to data from ValidatorQueue, it is expected that the time to complete processing the entire list in the waiting queue (Entry Queue) will be more than 2 days, but to enter the Exit Queue to unlock and withdraw assets to the wallet is nearly 9 days. day.
Metamask Pooled Staking can be used from today in the “MetaMask Portfolio” section, however the first phase is not available for users in the US or UK due to legal uncertainty in the two regions, but in In the future, they plan to deploy the latest products to these markets.
Consensys claims that Metamask Pooled Staking is supported by more than 33,000 Ethereum validators hosted on a multi-cloud, all-region and all-workstation compatible infrastructure, with more than 1 million ETH staked, No validators were slashed and the validator participation rate was over 99.9%.
According to The Block Data, currently about 27.1% of the ETH supply is staked on the network, with the majority in a few large pools. By launching Metamask Pooled Staking, the company aims to make becoming a validator through Ethereum staking more accessible to the majority of users.
Last month, MetaMask launched the Smart Transactions mechanism to help user transactions have a higher success rate, cheaper gas fees and also help "avoid" MEV bot attacks. In April, MetaMask integrated with on-chain platform Daylight to allow users to check their eligibility for airdrops as well as discover more about top-trending NFT sets across various blockchains.
