Ethereum users can now stake an entire validator directly from MetaMask

Crypto wallet provider MetaMask has rolled out a new staking service that enables Ethereum users to run their very own validator node... for a price.

On Jan. 18, the crypto wallet provider introduced validator staking through MetaMask Portfolio.

MetaMask will run the validator node on behalf of stakers who deposit 32 Ether ETHUSD. At current Ethereum prices, this equates to roughly $78,752 — not a small sum.

There is no pooling or hardware required, it noted, stating, “We run your node securely, streamlining your staking rewards while reducing risks of slashing and downtime.”

The new service could be tempting for beginners and/or decentralists, as staking via MetaMask could resolve centralization concerns from large liquid staking providers such as Lido. 

It also negates the necessity to purchase hardware to run a personal Ethereum node and eliminates the prospect of getting slashed due to internet outages.

Consensys, which manages the service, “has never received any slashing penalties in more than two years of operation, despite managing over $2 billion worth of ETH across more than 33,000 validators,” it stated.

Staking via MetaMask currently yields 3.8% per year however, the platform also takes a 10% commission of the validator rewards.

Crypto portfolio tracker Rotkiapp Founder Lefteris Karapetsas said the new service is an “Interesting idea but a 10% fee makes it a completely unattractive option for any user who bothers to compare with the other available options out there.”