MetaMask Partners with Consensys Staking for Ethereum Validators
MetaMask, the well-known crypto wallet app, has teamed up with Consensys Staking to allow users to stake a minimum of 32 eth (approximately $80,000) and run Ethereum validator nodes. Since Ethereum’s transition to a proof-of-stake network known as ‘The Merge’ in September 2022, validators have played a crucial role in securing the network. While many staking providers enable users to pool funds together to meet the 32 eth requirement, MetaMask’s offering eliminates the need for pooling and any hardware or software requirements. Instead, the stake is used to operate a validator node through Consensys Staking, which already runs validators representing around 4% of all staked eth.
Annual Yield and Fees
MetaMask currently guarantees an annual yield of approximately 4% on rewards generated by the validator. However, a 10% fee is deducted from this yield. It’s important to note that the actual yield may vary due to the random selection of validators’ blocks added to the network. In addition to running validators through Consensys Staking, MetaMask also offers pooled staking options via Lido and RocketPool. However, these alternatives currently offer lower advertised rewards at 3.53% and 3.14%, respectively.
Hot Take: MetaMask Simplifies Ethereum Staking
MetaMask’s partnership with Consensys Staking streamlines the process of staking Ethereum by eliminating pooling requirements and hardware or software needs. This collaboration allows users to stake their own 32 eth and run validator nodes without hassle. With an annual yield of around 4%, MetaMask provides an attractive option for those looking to participate in Ethereum’s proof-of-stake network. While other pooled staking options exist, MetaMask’s offering stands out for its simplicity and the reputation of Consensys Staking in running validators. As Ethereum continues to evolve, MetaMask’s initiative makes it easier than ever for you to join the network and earn rewards.
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