Metamask Launches Ethereum Staking Services via Lido and Rocketpool – Defi Bitcoin News
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On Friday, Web3 wallet company Metamask, a subsidiary of Ethereum-centric company Consensys, announced that a beta release of ethereum staking features will be available through Lido or Rocketpool’s liquid staking services. Users who want to stake Ethereum and earn stake rewards can choose one of the stake providers in the Metamask Web3 wallet interface.
The latest update from Consensys-owned Metamask allows users to stake Ethereum with Lido and Rocketpool
Web3 wallet provider Metamask announced that the company has added ethereum (ETH) staking services to the wallet tools. “We are very happy to announce that you can now stake ETH with Lido or Rocketpool via 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.
Basically, two liquid staking providers, Lido and Rocketpool, issue two “rebase” and “reprice” wrapped versions of ethereum (ETH) known as STETH and RETH. “Users either want to hold on to this STETH/RETH token when they want to raise their stake, use it as collateral [decentralized finance], or even change it to another token (back to ETH or another ERC20),” Metamask says in a blog post published on the same day. A blog post from the Web3 wallet company adds:
In this post-merger world, there is a growing demand for simple staking services that ultimately secure Ethereum. Whether you are an experienced Staker or a side adventurer, Metamask Staking offers an intuitive way to jump into the game and stake [ethereum] for awards.
According to statistics from Defillama.com, the total value of decentralized finance (defi) is 42.8 billion dollars (TVL) as of January 13. Liquid staking provider Lido is the most dominant protocol in terms of TVL size, commanding 16.32%. its $6.98 billion TVL. Rocketpool (RPL)’s TVL today is around $719.82M, according to defillama.com’s Friday metrics.
RETH has a total market cap of about $264.49M and there are about 174,725 RETH in circulation. RETH has the 124th largest market cap in the crypto economy, while STETH is the 12th largest. STETH has a market capitalization of approximately $6.85B and a circulation of 4,866,892 STETH at the time of publication.
How do you see the addition of staking services to the Metamask wallet impacting the Ethereum ecosystem? Let us know what you think about this topic in the comment section below.
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