Metamask Launches Staking Product in Conjunction with Lido and Rocket Pool

• The popular cryptocurrency wallet platform MetaMask has released a staking beta in conjunction with Lido and Rocket Pool.
• Users who want to stake Ethereum and earn staking rewards can select one of the staking providers within the Metamask Web3.

Metamask, the Ethereum infrastructure provider, has launched its Ethereum (ETH) staking functionality to the wallets set for tools. The network’s beta will allow users to directly interact with the Lido and Rocketpool protocols, without any third parties involved.

Staking is the process of locking up ETH to help secure the Ethereum network and earn rewards. Users can stake ETH in three ways: liquid staking, solo staking, and custodial staking.

Liquid staking allows users to stake ETH without having to lock up their funds for the entire staking period. This is done by using a liquid staking provider, such as Lido or Rocketpool, which issues users a liquid staking token in exchange for their ETH. The liquid staking token can then be used to earn rewards or traded on exchanges.

MetaMask’s new staking functionality makes it easy for users to stake ETH with Lido or Rocketpool directly from their MetaMask wallets. This eliminates the need to use a third-party platform, and it gives users more control over their ETH.

Abdad Mian, senior product manager at MetaMask, said:

“We’re excited to launch Ethereum staking functionality on MetaMask. This is a major step forward for the Ethereum ecosystem, and it makes it easier than ever for users to participate in staking and earn rewards.”

Notably, staking on Ethereum requires a minimum of 32 ETH. However, liquid staking providers allow users to stake any amount of ETH. This makes staking more accessible to users who do not have 32 ETH.

The rewards for staking ETH vary depending on the staking provider. MetaMask’s site claims users can earn a yield of about 5.22% per year on ETH deposits with Lido, and 4.59% with Rocketpool.

The launch of MetaMask’s staking functionality is a major step forward for the Ethereum ecosystem. It makes it easier than ever for users to participate in staking and earn rewards. This is likely to boost the adoption of Ethereum staking and help to secure the Ethereum network.