MetaMask introduces Ethereum validator staking functionality powered by Consensys.
MetaMask, a popular cryptocurrency wallet application, has partnered with Consensys Stake to run an Ethereum validator node on behalf of users looking to stake at least 32 ETH, currently worth about $80,000.
Following the switch from a proof-of-work network to a proof-of-stake network in 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 meet the 32 Ethereum requirement to run one validator and split the rewards.
However, MetaMask’s new staking service promises no pooling or hardware or software requirements. Rather, the 32nd stake will be used to run validator nodes through the Consensys Stake service, which already runs validators equivalent to approximately 4% of total staked ETH.
MetaMask currently promises an annual return of approximately 4% on rewards and charges a 10% fee. However, the company notes that this yield can increase or decrease due to the inherently random chance that a particular validator’s blocks will be selected to be added to the network.
MetaMask also offers full staking through popular providers Lido and RocketPool, but the advertised rewards are currently lower at 3.53% and 3.14% respectively.
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