MetaMask Introduces Pooled Staking Feature for Ethereum Users

According to CoinDesk, MetaMask, a widely used Ethereum wallet, is set to introduce a 'pooled staking' feature for its users this week. This move is expected to make it more cost-effective for users to contribute to the security of the blockchain network, as opposed to running a full validator node. The new feature will enable users to engage in Ethereum staking, a common crypto investment strategy that involves holding tokens in a blockchain address in return for rewards. In 'proof-of-work' blockchains like Ethereum, staking is the primary method of ensuring network security. Matthieu Saint Olive, senior product manager at MetaMask developer Consensys, stated that 'With Pooled Staking, MetaMask users now have an easy way to stake ETH in enterprise-grade validators while maintaining full control of their ETH, earning rewards and making Ethereum more secure.' Traditional Ethereum staking requires users to commit 32 ETH to the network, which currently amounts to approximately $112,000. 'Pooled' services like Lido, Rocket Pool, and now MetaMask, allow more users to stake by pooling assets from various individuals, enabling anyone to stake even if they don't possess 32 ETH. However, MetaMask's staking feature may not be as comprehensive as those offered by its competitors. Unlike Lido and Rocket Pool, which provide users with 'liquid staking tokens' (LSTs) that can be borrowed, loaned, or reinvested into decentralized finance protocols, MetaMask does not plan to offer its own LST as part of its pooled staking service. Furthermore, the new staking feature will initially not be available in the U.S. or UK, although Consensys has expressed intentions to eventually launch it in these regions.