Decentralized cryptocurrency wallet provider MetaMask has announced that its users will now be able to stake in Ethereum through a partnership with Lido DAO (LDO) and Rocket Pool.
According to an announcement by ConsenSys, the MetaMask developer company, the staking system is in public beta. Through it, users who want to share ETH and earn rewards for contributing to the network consensus can do so directly within the MetaMask web3 app.
For this, the user only needs to select the desired staking provider (Lido or Rocket Pool) and confirm the amount of ETH to be allocated in the transaction. This will allow you to participate in the staking ETH system without having to own the required 32 ETH.
According to MetaMask Senior Product Manager Abad Mian, it is important to note that MetaMask Staking does not provide staking services. The system simply connects users to Lido and Rocket Pool to share ETH and get reward codes for doing so.
Mian also revealed that Lido and Rocket Pool were chosen based on user feedback. According to him, platforms are the most popular options for accumulating Ethereum within the DeFi ecosystem and, accordingly, external exchange platforms.
Attention to risk has increased since the merger was implemented, according to Mian. However, despite its popularity, staking suffers from confusing interfaces that can present barriers to adoption, said the MetaMask CEO.
“We believe that staking is an essential component of Web 3 and that clean, convenient and understandable user interfaces are key to driving adoption of Web 3 products and services,” he noted.
Those who wish to exchange stETH or rETH (tokens received by staking on Lido or Rocket Pool) to ETH can do so within MetaMask by paying a fee for the exchange.