MetaMask Portfolio has extended the list, now offering Validator Staking in addition to Liquid Staking. This empowers participants to stake their ETH tokens and earn rewards without undergoing the complexities of maintaining nodes.
Consensys Staking, a network of more than 33,000 stakeholders, can handle that portion. Functions that they will undertake include, but are not limited to, runtime stability, client updates, and node operation.
MetaMask made the statement, advising members that they must invest 32 ETH through MetaMask Portfolio to obtain the service.
Consensys Staking infrastructure has been hailed for a number of reasons. This includes zero slashes, 99.99% runtime, and an experience of more than 3 years in production. Also, Consensys Staking has been credited with rolling out ~7% higher rewards per the Q4-2023 data and has $2 billion worth of ETH tokens in the pool.
Simply put, the staking infrastructure by MetaMask has been curated specifically for those who wish to pocket the maximum validator staking and rewards without letting it affect slashing and downtime. It has been defined as a convenient way to stake, considering MetaMask Portfolio removes all technical complexities when it comes to securing the network and democratizing participation.
Participants can stake their tokens by connecting the MetaMask wallet to the official platform of MetaMask Portfolio. An option to Stake will appear, following which they must navigate to Validator Staking. It should be visible at the top of the webpage.
More than 32 ETH tokens can be deposited; however, the selections available are only multiples of 32. Click Confirm after reviewing the details and sign the transaction to approve and submit the staking deposit. Details about the native wallet can be found in the MetaMask crypto wallet review, which also sheds light on the technical aspects of the wallet along with its key features.
Participants don’t necessarily give up control over their tokens after staking them. Per the announcement by MetaMask, all staked ETH tokens remain under the control of users while they claim rewards throughout the process.
While the number of tokens is fixed at 32 ETH, it is important to note that every ETH reflects a valuation of $2,430 at the time of drafting this article. So, the minimum amount that a user will have to stake is ~$77,760, depending on the multiple of 32 and the value of ETH at that time. The token is currently down by 1.62% in the last 24 hours and 3.30% in the last 7 days.
ETH did a good job of sustaining the margin above the $2.5k mark when BTC dropped to ~$42k in recent times. However, ETH has also been volatile, and staying above the accepted mark of $2.5k is more of a challenge.