On Friday, WeCompany, the provider of the Metamask b3 wallet and a subsidiary of EthereumFocused firm Consensys, publicized that the beta version of Ethereum Staking capabilities is available through Lido and Rocketpool’s liquid staking services. Now, anyone interested in earning staking rewards has the option to stake Ethereum with Metamask.
Consensys-owned Metamask Announces Ethereum Staking With Lido and Rocketpool
Metamask, the web3 wallet provider, announced the addition of Ethereum (ETH) staking services to its wallet’s toolkit. “We are pleased to inform you that you can now stake ETH with Lido or Rocketpool through the Portfolio Dapp,” Metamask said on Friday. “Metamask Staking lets you interface directly with the Lido and Rocketpool protocols; there are no suspicious third-parties doing the staking for you,” the organization declared on aggregate on Twitter.
Essentially, these are the liquid staking service providers. Lido and Rocketpool issue two “reset” and “reprice” versions of Ethereum (ETH), also known as STETH or RETH. “Users can keep this STETH/RETH token when they want to withdraw their stake, use it as collateral in [decentralized finance], or even exchange it for another token (go back to ETH or another ERC20),” Metamask explained in a blog post released on the same day. The blog post from the b3 wallet company adds:
There is a growing demand for simple staking services that will eventually secure the future of the post-merge era of Ethereum. Whether you are an experienced staker or an idle observer, Metamask Staking is an intuitive way to get in and stake your claim [ethereum] for the rewards program.
According to statistics from defillama.com as of January 13, the total value locked in decentralized financing (defi) is $42.8 billion, with a TVL of $6.98 billion. Rocketpool (RPL) has a TVL of $719.82 Million as of today, according to defillama.com metrics. Friday.
The overall market capitalization of RETH is approximately $264.49 Million and approximately 173,725 RETHs are in circulation. RETH ranks as the 124th largest crypto currency by market capitalization while STETH is at 12th. STETH’s market capitalization is $6.85 billion and the circulating supply of STETH is 4,866,892 at this time.
What are your thoughts on the potential of Metamask wallet adding staking services and its impact on the Ethereum ecosystem? Please let us know your opinion in the comments below.
