On Friday, Web3 wallet firm Metamask, a subsidiary of Ethereum-centric company Consensys, announced that the beta launch of Ethereum staking features will be available via Lido or Rocketpool's liquid staking services. Users who want to stake Ethereum and earn staking rewards can select one of the staking providers within the Metamask Web3 wallet interface. Latest update from Consensys-owned Metamask allows users to stake Ethereum with Lido and Rocketpool Web3 wallet provider Metamask announced that the company has added Ethereum (ETH) staking services to the wallet's tools. “We are very excited to announce that you can now stake ETH with Lido or Rocketpool via...
On Friday, Web3 wallet firm Metamask, a subsidiary of Ethereum-centric company Consensys, announced that the beta launch of Ethereum staking features will be available via Lido or Rocketpool's liquid staking services. Users who want to stake Ethereum and earn staking rewards can select one of the staking providers within the Metamask Web3 wallet interface.
The Web3 wallet provider Metamask announced that the company has added Ethereum ( ETH ) Staking services for the wallet's tools. “We are very excited to announce that you can now stake ETH with Lido or Rocketpool via the Portfolio Dapp," Metamask said on Friday. "Metamask staking allows you to interact directly with the Lido and Rocketpool protocols - no sketchy third parties to do your staking for you," the company said added on Twitter.
Essentially, the two liquid staking providers, Lido and Rocketpool, issue two versions of Ethereum packaged with “rebasing” and “repricing” ( ETH ) known as STETH and RETH. “Users either choose to keep this STETH/RETH token if they want to withdraw their stake, or use it as collateral in [decentralized finance], or even exchange it for another token (back to ETH or another ERC20)”, metamask details in a Blog entry published on the same day. The Web3 wallet company's blog post adds:
In this post-merge world, there is a growing demand for simple staking services that will ultimately secure Ethereum. Whether you are an experienced staker or a spectator on the sidelines, Metamask Staking offers an intuitive way to get in and stake your [ethereum] for rewards.
According to defillama.com statistics, there is a total value locked (TVL) of $42.8 billion in decentralized finance (defi) as of January 13th. Liquid staking provider Lido is the most dominant protocol in terms of TVL size, dominating TVL by 16.32% with $6.98 billion. Rocketpool (RPL) has a TVL of around $719.82 million today, according to defillama.com Metrics on Friday.
RETH has a total market cap of about $264.49 million and there are about 174,725 RETH in circulation. RETH holds the 124th largest market cap position in the crypto economy, while STET commands the 12th largest place. STETH has a market cap of around $6.85 billion, and at the time of writing, there is a circulating supply of 4,866,892 STETH.
How do you see the impact of adding staking services to Metamasks Wallet on the Ethereum ecosystem? Let us know your thoughts on this topic in the comments section below.
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