Metamask, the Ethereum Virtual Machine (EVM) wallet, has announced the launch of its validator staking services for Ethereum. The feature will allow users who want to stake their ether to do it simply from the Metamask portfolio interface, without managing hardware equipment, while maintaining custody of the cryptocurrency staked.
Metamask Introduces Validator Staking for Ethereum
Metamask, the Ethereum and Ethereum Virtual Machine (EVM) wallet, has introduced its validator staking services. The new feature allows users with 32 ETH to stake them directly from the interface of Metamask Portfolio.
The service backend is run by Consensys Staking, which manages over 4% of the total ETH staked, with over 33,000 validators having 99.99% uptime. Also, Metamask states that Consensys has not been slashed, a kind of penalty that Ethereum validators face when registering “dishonest behaviors” by the network.
Metamask stresses this addition simplifies the processes for users who want to stake ether. In an article presenting these services, Metamask remarked on the pros of staking ETH using this new functionality, explaining that it “removes the technical barriers needed to secure the network, democratizes participation in Ethereum staking for those unable or unwilling to solo stake, and offers you easy monitoring of your deposit and rewards.”
The wallet also declared it offers one of the highest rewards percentages – over 7% of the network average – giving users the benefit of maintaining self-custody and control of their staked tokens without having to hassle with hardware issues.
Metamask has been slowly including new features to complement its wallet use case. In January 2022, the wallet included the possibility of staking ETH via liquid staking services like Lido or Rocket Pool. In September, it announced that users from certain states of the U.S., the U.K., and parts of Europe would be able to sell their cryptos and cash out to U.S. dollars (USD), British pounds (GBP), and euros (EUR) directly from the wallet interface.
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