MetaMask, the leading Ethereum wallet, is launching a new “pooled staking” feature this week, significantly lowering the financial barrier for participating in Ethereum staking. Previously, engaging in this investment strategy required a substantial investment of over $100,000, but the new feature aims to make staking more accessible and affordable.
Simplifying Ethereum Staking
With pooled staking, MetaMask users can now stake Ethereum (ETH) with enterprise-grade validators without needing the hefty 32 ETH required for traditional staking. This innovation allows users to maintain full control over their ETH while earning rewards and enhancing the security of the Ethereum network. According to Matthieu Saint Olive, Senior Product Manager at Consensys (MetaMask’s developer), this feature provides an easy way for users to stake their ETH and contribute to network security.
Comparing with Other Staking Platforms
While MetaMask’s new feature broadens access to staking, it lacks some advanced functionalities offered by competitors like Lido and Rocket Pool. These platforms provide users with “liquid staking tokens” (LSTs), which can be used in various decentralized finance (DeFi) protocols. Lido’s stETH, for instance, is a popular asset for borrowing, lending, and reinvesting within the crypto ecosystem. In contrast, MetaMask’s pooled staking does not include its own LST, which may limit some advanced DeFi interactions.
Also Read: SEC Considers Spot Ether ETF Application from ProShares
Availability and Future Plans
The new staking service will initially be unavailable in the U.S. and UK. However, Consensys has expressed intentions to expand the feature to these regions in the future. Despite trailing behind industry peers in certain functionalities, MetaMask’s introduction of pooled staking offers a user-friendly entry point for retail traders interested in staking, trading, and monitoring their investments through a single interface. MetaMask doesn’t plan to offer its own LST as part of its pooled staking service.
