• MetaMask’s Ethereum Staking Beta has launched with Lido and Rocket Pool as its two staking providers.
• Users can conveniently stake ETH with Lido or Rocket Pool to earn yield and receive liquid staked ETH in return.
• The Web 3 wallet’s public beta allows users to select either Lido or Rocket Pool and confirm the amount of ETH they’d like to allocate for staking with a signed transaction.
MetaMask, the world’s leading Web 3 wallet, is now allowing users the convenience of staking their Ethereum directly from the app. The network’s public beta enables users to select either Lido or Rocket Pool for staking, through which they can earn yield and receive liquid staked ETH in return. ConsenSys – the Ethereum infrastructure provider behind Metamask – made the announcement on Monday.
The process for staking ETH through MetaMask is relatively simple. Once users have selected either Lido or Rocket Pool, they can confirm the amount of ETH they’d like to allocate for staking with a signed transaction on MetaMask. Upon confirmation of the transaction, they will receive their liquid staking tokens directly from the staking provider. According to ConsenSys’s announcement, both Lido and Rocket Pool offer their own set of rewards and fees for staking.
While the staking feature is currently in public beta, ConsenSys is planning to roll out more staking providers in the near future. In addition, MetaMask is also exploring ways to integrate other features, such as governance and voting, into the app. This could potentially give users the ability to vote on decisions regarding the Ethereum network.
The launch of MetaMask’s Ethereum Staking Beta is a significant milestone for the Web 3.0 wallet and its users. By providing users with an easy way to stake ETH, MetaMask is making it easier for users to earn yield on their cryptocurrency holdings. As the Ethereum network continues to mature and the demand for staking increases, MetaMask is well-positioned to capitalize on the trend.