MetaMask Institutional Introduces New Solo ETH Staking Marketplace
The marketplace streamlines getting started with and managing solo staking. It allows institutions to directly become Ethereum validators by staking 32 ETH. By unveiling a new staking marketplace for its institutional customers, MetaMask Institutional is poised to become a conduit for the creation of fresh Ethereum validators. Four vendors, including ConsenSys Staking, Allnodes, Blockdaemon, and Kiln, will be available to institutions using MetaMask’s institutional-grade wallet and custody service to handle Ether staking. To make it easier for businesses to join the Ethereum network as validators, this marketplace streamlines the process of getting started with and managing solo staking. Since its launch in October 2021, MetaMask Institutional (MMI) has provided a platform with enhanced features and controls that are better suited to the needs of corporations and other institutional users. As previously reported, MetaMask’s retail wallet is no longer suitable for consumers or institutions handling millions of dollars worth of cryptocurrencies. Facilitating Institutional Staking The new staking marketplace provided by the service will attempt to standardize the otherwise disparate rates, terms and conditions, rebates, and reporting criteria that characterize institutional staking. ConsenSys’ MMI product lead Johann Bornman told that the company has seen a change from liquid staking to 32-ETH staking, which he thinks is driven not just by Ethereum’s Merge upgrade in 2022 but also the impending Shanghai/Capella upgrade. Deposit withdrawals for Ethereum validators will be enabled in the Shanghai upgrade, enabling single-staking individuals who have staked the minimum 32 ETH to withdraw their tokens and access their accumulated staking earnings. Thus far, only liquidity provider pools have let users deposit and withdraw less than 1 ETH. For this reason, MetaMask Institutional has released its staking marketplace, which allows institutions to directly become Ethereum validators by staking 32 ETH.