Key Takeaways:
- MetaMask launched a staking service enabling users to pool funds and stake ETH with Consensys validators, bypassing the 32 ETH minimum.
- This service allows smaller ETH holders to participate in Ethereum’s PoS system, contributing to network security and earning rewards.
- Currently, the service is unavailable in the US and UK due to regulatory constraints, but efforts are underway to extend access to these regions.
MetaMask has launched a staking service that allows users to pool their funds and stake their Ether (ETH) with validators operated by Consensys, bypassing the 32 ETH minimum requirement.
This service lets users with less ETH contribute and earn staking rewards for securing the Ethereum network.
MetaMask launches pooled staking for Ethereum, excluding US and UK users https://t.co/YWuaAHeAdJ
— The Block (@TheBlock__) June 12, 2024
ETH staking is part of Ethereum’s proof-of-stake (PoS) mechanism, where validators process transactions and add blocks to the blockchain.
Validators earn interest on their staked ETH but risk losing it if they fail in their duties or engage in collusion.
Consensys ensures decentralization and security by using diverse validator infrastructure.
Despite the high entry barrier of 32 ETH (about $112,000), only 1% of ETH holders can currently meet this threshold.
MetaMask’s service aims to increase participation by allowing users to stake smaller amounts.
MetaMask Adds Pooled Ethereum Staking Service—But Not for US or UK
— Decrypt (@decryptmedia) June 12, 2024
► https://t.co/GTg0OqWTze https://t.co/GTg0OqWTze
The new service is currently unavailable in the US and UK due to regulatory issues, but MetaMask is working to make it accessible in these regions soon.
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