MetaMask debuts Pooled Staking Feature
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Consensys, the developer behind Ethereum’s popular MetaMask software wallet, just launched a pooled staking feature that enables users of its wallet to stake any amount of Ether onchain.
What’s the scoop?
- StakeWise Solution: Consensys leveraged the open-source architecture of Ethereum liquid staking protocol StakeWise to create its pooled staking offering.
- Increased Accessibility: Operating a validator on the Ethereum network requires 32 ETH, but MetaMask’s new pooled staking feature will enable anyone to provide security to earn commensurate staking rewards.
- But Not Available to All: Pooled staking is rolling out in stages, meaning only certain eligible users can access the service today. Additionally, Consensys has stated it has no plans to offer the feature to U.S. or U.K. users due to regulatory uncertainty.
Bankless Take:
Considering that America's SEC previously fined crypto exchange Kraken for offering a similar pooled staking product – albeit one that was custodial in nature – it makes sense that Consensys is currently unwilling to provide this product to users in certain jurisdictions.
Fortunately, increasing regulatory clarity, which America’s Congress is attempting to provide, should provide access to these services for U.S. users, even in the event pooled staking schemes fall under the designation of investment contract and can only be offered by registered brokerages.
Although MetaMask’s latest feature is certainly a nice-to-have for individuals with less than 32 ETH looking to stake, it remains unclear what category of user will opt to stake a small amount of ETH onchain instead of purchasing liquid staking tokens.