MetaMask Wallet
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MetaMask introduces Ethereum validator staking feature, powered by Consensys
by Zack Abrams
Read the non-AMP story on Theblock.co
The Block
Quick Take
MetaMask has introduced a feature to run Ethereum validator nodes on behalf of users with at least 32 eth to spare, powered by Consensys Staking.
The service currently advertises an annual yield of about 4%, after taking a 10% fee from earned rewards.
MetaMask, the popular crypto wallet application, has partnered with Consensys Staking to run Ethereum validator nodes on behalf of users willing to stake at least 32 eth, a current value of about $80,000.
Following its transition from a proof-of-work network to a proof-of-stake network in the September 2022 known as ‘The Merge,’ Ethereum’s network is now secured by such validators. Many staking providers allow users to pool smaller amounts of funds together to hit the 32 eth requirement to run one validator, splitting the rewards.
MetaMask’s new staking offering, however, promises no pooling and no hardware or software requirements. Rather, the 32 eth stake is used to run a validator node through the Consensys Staking service, which already operates validators totaling about 4% of all staked eth.
MetaMask currently promises about 4% annual yield on the rewards, before taking a 10% fee, though the company notes that this yield may increase or decrease due to the inherently random chance of any given validator’s block being selected to add to the network.
MetaMask also offers pooled staking through popular providers Lido and RocketPool, though the advertised rewards are currently lower at 3.53% and 3.14%, respectively.
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