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Metamask Launches Ethereum Staking Services via Lido and Rocketpool – Defi Bitcoin News

On Friday, Web3 wallet company MetaMask, a subsidiary of Ethereum-centric company ConsenSys, announced that a beta version of its Ethereum staking feature will be available via its Lido or Rocketpool liquid staking services. Users who want to stake Ethereum and earn staking rewards can select one of their staking providers within the Metamask Web3 wallet interface.

Latest update to Consensys-owned Metamask lets users stake Ethereum on Lido and Rocketpool

Web3 wallet provider Metamask announced The company’s addition of Ethereum (ethereum) to stake the service into a set of tools in the wallet. “We are very happy to announce that staking is now available. ethereum With Lido or Rocketpool via Portfolio Dapp,” Metamask said on Friday. “Metamask Staking allows you to interact directly with the Lido and Rocketpool protocols, without sketchy third-party staking,” the company said. Added on Twitter.

Basically, two liquid staking providers, Lido and Rocketpool, issue two “rebase” and “repricing” wrapped versions of Ethereum (ethereum) known as STETH and RETH. “Users choose to hold this STETH/RETH token for when they want to withdraw their wager and use it as collateral. [decentralized finance]or can be exchanged for another token (return to ethereum or another ERC20)”, Metamask details blog post Released on the same day. The Web3 wallet company blog post added:

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

According to defillama.com statistics, with a total value lock (TVL) of $42.8 billion in decentralized finance (defi) on January 13. Liquid staking provider Lido is the most dominant protocol in terms of TVL size, with a 16.32% dominance on a TVL of $6.98 billion. His TVL for Rocketpool (RPL) today is around $719.82 million, according to defillama.com. index on friday.

response The total market capitalization is around $264.49 million with around 174,725 RETH in circulation. RETH holds the 124th largest market capitalization in the crypto-economy, Steth Command the 12th largest spot. STETH has a market cap of around $6.85 billion and he has a circulating supply of 4,866,892 STETH at the time of writing.

Tags for this story

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

Jamie Redman

Jamie Redman is a news lead for Bitcoin.com News and a financial technology journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols currently emerging.

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