MetaMask Launches Beta Staking Through Lido and Rocket Pool

  • All users may stake ETH and get incentives for their participation in the network.
  • Mian said that Lido and Rocket Pool were picked since they are popular among users.

The popular cryptocurrency wallet platform MetaMask has released a staking beta in conjunction with Lido and Rocket Pool. The newly created protocol for users who want to stake Ethereum directly from MetaMask will enter public beta testing soon.

According to the release, the Web3 community has shown an increased interest in staking. However, “convoluted interfaces” have been a common problem, which has slowed its wider adoption. This is something that MetaMask’s upcoming staking beta aims to rectify.

Staking a Core Component of Web3

In addition to Lido and RocketPool, the brand new MetaMask staking beta offers a fantastic chance for Web3. During the beta phase, all users may stake ETH and get incentives for their participation in the network. The whole procedure may be completed in one go using the MetaMask Web3 application by simply choosing the staking provider and “the amount of ETH to be allocated with a signed transaction.” Abdad Mian, senior product manager at MetaMask, recently discussed the beta with The Block.

Abdad stated:

“It is important to note that MetaMask Staking isnt providing staking services. He added they, “simply connect users to Lido and RocketPool to stake their ETH and received liquid staking tokens directly from the staking provider.”

In addition, Mian said that Lido and Rocket Pool were picked since they are popular among users. Then, Mian commented that they were “among the most popular options for Ethereum liquid staking.” And he said that “staking is a core component of Web3,” a view shared by MetaMask. Adoption of Web3 goods and services may be accelerated by providing users with straightforward, user-friendly interfaces. 

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.