Metamask Launches Ethereum Staking Services via Lido and Rocketpool

Must read

5 Types of Licenses for Financial Advisors

Financial advisors help individuals make informed decisions about their finances, but it’s also important to ensure that anyone you trust to manage your...

Legal Clash: Texas Crypto Firm Files Lawsuit Against US SEC Over Digital Asset Regulation

A Texas-based crypto company, Lejilex, along with the Crypto Freedom Alliance of Texas (CFAT), has filed a lawsuit against the US Securities and...

A Leading DeFi Bull Indicator? MetaMask Registers Over 30 Million In 5 Months

MetaMask monthly active users (MAUs) currently stand at over 30 million, a near 2X surge from around 19 million recorded in September 2023. ...

Bitcoin Bullish Signal: Inflows To HODLer Wallets Hit ATH

On-chain data shows the Bitcoin inflows going towards “accumulation wallets” have hit a new all-time high, a sign that could be bullish for...

On Friday, the Web3 wallet firm Metamask, a subsidiary of the Ethereum-centric company Consensys, announced the beta launch of ethereum staking features will be made available via Lido’s or Rocketpool’s liquid staking services. Users who want to stake ethereum and earn staking rewards can select one of the staking providers within the Metamask Web3 wallet’s interface.

Consensys-owned Metamask’s Latest Update Allows Users to Stake Ethereum With Lido and Rocketpool

The Web3 wallet provider Metamask announced that the company has added ethereum (ETH) staking services to the wallet’s set of tools. “We are extremely happy to announce that you can now stake ETH with Lido or Rocketpool through the Portfolio Dapp,” Metamask said on Friday. “Metamask Staking allows you to interact directly with the Lido and Rocketpool protocols — no sketchy third-parties doing your staking for you,” the company added on Twitter.

Essentially, the two liquid staking providers, Lido and Rocketpool, issue two “rebasing” and “repricing” wrapped versions of ethereum (ETH) known as STETH and RETH. “Users either choose to hold on to this STETH/RETH token for when they would like to withdraw their stake, use it as collateral in [decentralized finance], or even swap it for another token (back to ETH or another ERC20),” Metamask details in a blog post published the same day. The Web3 wallet firm’s blog post adds:

In this post-Merge world, there is a growing demand for simple staking services that will ultimately secure Ethereum. Whether you’re a seasoned staker or a sideline watcher, Metamask Staking offers an intuitive way to jump in and stake your [ethereum] for rewards.

According to defillama.com statistics, there’s $42.8 billion total value locked (TVL) in decentralized finance (defi) on Jan. 13. The liquid staking provider Lido is the most dominant protocol in terms of TVL size, and it dominates by 16.32% with its $6.98 billion TVL. Rocketpool (RPL) today, has a TVL of around $719.82 million according to defillama.com’s metrics on Friday.

RETH has an overall market capitalization of around $264.49 million, and there are approximately 174,725 RETH in circulation. RETH holds the 124th-largest market capitalization position in the crypto economy, while STETH commands the 12th-largest spot. STETH has a market capitalization of around $6.85 billion, and there is a circulating supply of 4,866,892 STETH at the time of writing.

How do you see the addition of staking services to Metamask’s wallet impacting the Ethereum ecosystem? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More articles

Latest article

5 Types of Licenses for Financial Advisors

Financial advisors help individuals make informed decisions about their finances, but it’s also important to ensure that anyone you trust to manage your...

Legal Clash: Texas Crypto Firm Files Lawsuit Against US SEC Over Digital Asset Regulation

A Texas-based crypto company, Lejilex, along with the Crypto Freedom Alliance of Texas (CFAT), has filed a lawsuit against the US Securities and...

A Leading DeFi Bull Indicator? MetaMask Registers Over 30 Million In 5 Months

MetaMask monthly active users (MAUs) currently stand at over 30 million, a near 2X surge from around 19 million recorded in September 2023. ...

Bitcoin Bullish Signal: Inflows To HODLer Wallets Hit ATH

On-chain data shows the Bitcoin inflows going towards “accumulation wallets” have hit a new all-time high, a sign that could be bullish for...

‘Avoid Ethereum (ETH) At All Costs’ Says Bitcoin Advocate – Here’s Why

Bitcoin supporter Fred Krueger has recently voiced concerns about Ethereum’s (ETH) fundamental trends and potential regulatory hurdles. Krueger’s remarks, shared in a post...