TLDR
- MetaMask has launched a new “pooled staking” feature that allows s to stake Ethereum (ETH) without meeting the 32 ETH minimum requirement.
- The pooled staking service enables s to contribute their ETH to enterprise-grade validators operated by Consensys, making staking more accessible to a wider range of s.
- According to MetaMask, 99% of ETH holders have less than 32 ETH, and 74% of ETH is currently not staked.
- The new feature aims to contribute to the decentralization and security of the Ethereum network by encouraging more s to participate in staking.
- MetaMask’s pooled staking service is not yet available in the United States and the United Kingdom due to regulatory considerations, but the company is working to make it available in these jurisdictions.
MetaMask, the popular Ethereum wallet and browser extension, has introduced a new “pooled staking” feature that allows s to stake their Ethereum (ETH) without having to meet the hefty 32 ETH minimum requirement.
The move aims to make staking more accessible to a wider range of s and contribute to the decentralization and security of the Ethereum network.
With MetaMask’s pooled staking service, s can stake any amount of ETH by contributing their funds to enterprise-grade validators operated by Consensys, the blockchain software company behind MetaMask.
This means that s with less than 32 ETH, which is currently worth around $112,000, can still participate in staking and earn rewards for securing the network.
According to MetaMask, 99% of ETH holders have less than 32 ETH, and 74% of ETH is currently not staked.
By providing an accessible and efficient staking solution, MetaMask aims to encourage more s to participate in staking and contribute to the decentralization and security of the Ethereum network.
Matthieu Saint Olive, senior product manager at Consensys, believes that MetaMask’s pooled staking service will benefit Ethereum’s security.
“Having more s staking and more ETH staked is beneficial for Ethereum security,” he told Cointelegraph.
“Also, the underlying validator infrastructure is distributed across multiple cloud providers, multiple regions across the globe, multiple consensus clients and multiple execution clients.”
While staking offers the potential for rewards, it also carries risks. If a validator fails to perform its duties or engages in collusion, it can be “slashed,” resulting in a loss of staked ETH.
However, Saint Olive emphasized that Consensys’ validators have been operating smoothly since 2020 without any slashing incidents.
MetaMask’s pooled staking service offers flexibility, allowing s to unstake their ETH at any time, subject to the Ethereum validator exit queue protocol. s can also easily monitor their balances and rewards within the MetaMask Portfolio interface.
Despite the convenience of the new service, it is not yet available for s in the United States and the United Kingdom due to regulatory considerations. MetaMask is working to make the service available in these jurisdictions as soon as the regulatory landscape becomes clearer.
In a previous interview with Cointelegraph, Consensys CEO and Ethereum co-founder Joseph Lubin compared the new service to liquid staking, suggesting that it may be more convenient.
“You can kind of flip a switch and you are able to, in a pretty liquid way, allocate small amounts or large amounts of Ether and pull them back really quickly,” Lubin said.
As the Ethereum network continues to evolve and grow, MetaMask’s pooled staking service represents a significant step towards making staking more accessible and inclusive. By encouraging more s to participate in securing the network, MetaMask is contributing to the decentralization and long-term sustainability of the Ethereum ecosystem.
