BlocksInform
Metamask users are put to have access to ethereum lido liquid staffing suppliers and rocket pool courtesy of a new integration revealed by consensys.
Metamask staking will unlock the ability for users to sting the aether () by lido and rocket pool protocols, bragging about the service to improve the safety and decentralization of the ethereum blockchain.
Users will be able to compare reward rates, network control and the popularity of different cash staking providers, providing additional information to inform staking options. The service starts with a public beta via the decentralised application (dapp) of the meta mask portfolio.
Users will be able to play across the lido and rocket pool and see lido (steth) and rocket pool (reth) stake tokens out. Such chips may also be exchanged using METAMASK swaps.
Liquid Staking is an asset staking method on the blockchain ethereum that enables users to earn rewards while maintaining the ability to freely transfer and exchange their assets. The assets are deposited into an intelligent contract, winning rewards based on the total amount subscribed by all users.
MetaMask product manager Abad Mian told Cointelegraph that the service saw increased user demand for staking solutions following Ethereum’s transition to proof-of-stake consensus in September 2022.
According to an internal survey, 85 per cent of respondents said they like to look at a number of options before deciding where to invest their assets. Additionally, over 74% of respondents expressed interest in staking."
Mian has also confirmed that MetaMask will explore offering alternative liquid staking suppliers. He also pointed out that MetaMask does not provide staking services directly, but connects users to Ethereum's leading liquid staking providers through intelligent contract functionality.
Cointelegraph also enquired about the possibility of staking services being rolled out to MetaMask Institutional, the platform’s offering serving institutional clients. Although mian refused to comment specifically, he noted that metamask continues to assess its offerings through its range of services.
Mian also indicated that the impact of staking tools on the decentralization of Ethereum would depend upon their popularity, user experience and demand for staking services.
"Staking is just one factor that can have an impact on decentralization within a blockchain."
Blockchain analysis carried out by Nansen in December 2022 revealed that demand for liquid Ethereum staking services was on the rise following The Merge. As of Jan. 13, the Ethereum staking contract contains over 16 million ETH, with Lido’s liquid staking pool the largest contributor with over 4.6 million ETH deposited.
