Ethereum

Polygon

Stader

Billion

<ul class="list-ic vertical"> 
 <li> 1 <a>Crypto wallet MetaMask recently launched an array of new features in the platform.</a> </li> 
 <li> 2 <a>The new feature allows users to stake ETH and MATIC tokens.&nbsp;</a> </li> 
</ul> 
Popular extension-based cryptocurrency wallet, MetaMask, recently brought new features seeking to facilitate increased offerings in staking services. Following the emergence and popularity of crypto assets with time, different utilities surfaced and staking was one of them. It facilitates a sustainable and consistent income on their stored digital assets.&nbsp; 
As reported, the newly added feature in the MetaMast Portfolio application opens opportunities for users to stake Ethereum (ETH) and Polygon (MATIC) tokens. The staking facility will be available over the leading Web3 application platform.&nbsp; 
The new feature would enable users to compare the staking rates on the application itself. It claims to avail high potential return and the opportunity to have exposure to various crypto assets over the platform.&nbsp; 
MetaMask Portfolio would facilitate<a href="https://www.thecoinrepublic.com/2023/08/02/all-you-need-to-know-about-ethereum-staking-with-lido-platform/" target="_blank" rel="noopener noreferrer nofollow"> ETH staking</a> at Lido (LDO) and RocketPool (RPL) and MATIC staking at Lido and Stader Labs.&nbsp; 
The portfolio feature of the <a href="https://www.thecoinrepublic.com/2023/05/22/consensys-defies-claims-of-metamask-withholding-crypto-taxes/" target="_blank" rel="noopener noreferrer nofollow">Consensys</a> created popular crypto and defi wallets to let users go through the accounts over the platform. Users can view the assets and buy, swap, bridge, or even stake them.&nbsp; 
MetaMask’s approach towards cryptocurrency staking is in contrast to the offerings.&nbsp; 
<h2 class="wp-block-heading" id="strong-crypto-staking-is-not-without-concerns-strong">Crypto Staking Is Not Without Concerns&nbsp;</h2> 
A recent report by prominent crypto firm Hashkey Capital noted that liquid staking offerings possess significant risks to the decentralized finance (DeFi) sector and requirements of decentralization.&nbsp; 
The reason behind the concern is the methodology of liquid staking in the current scenario. A small number of node operators, according to the report, take care of a notable number of LSD protocols. These node operators are of sheer size and small in number which leads to centralized points.&nbsp; 
Lesser number of such big size nodes would harm the decentralized model and would do more harm than good to the community which seeks decentralization in the long run. Flocking of most node operators would make them prone to face the 51% attack by the hackers and it could result in losing control over the whole system.&nbsp; 
Though there are concerns around the modus operandi, liquid staking derivatives (LSD) services make a fortune for communities and token holders. The total value locked (TVL) of the LSD rose to over $22 Billion this year, the report added. The overall market capitalization of these offerings hit $18 Billion.&nbsp; 
<h3 class="wp-block-heading" id="strong-regulatory-eyes-on-crypto-staking-strong">Regulatory Eyes on Crypto Staking</h3> 
The crypto staking services got regulatory attention in the past which is possible to happen again in the future. The Securities and Exchange Commission (SEC) raised concerns about staking services facilitated by crypto trading and exchange platforms in the past.&nbsp; 
The financial regulator was even <a href="https://www.thecoinrepublic.com/2023/02/10/the-sec-cracks-at-kraken-coinbases-shares-pay-the-price/" target="_blank" rel="noopener noreferrer nofollow">rumored</a> to ban crypto staking offerings. Although the ban did not happen, a lesson was taught to the companies after making the crypto exchange Kraken pay <a href="https://www.thecoinrepublic.com/2023/02/10/kraken-to-pay-30m-fine-in-sec-settlement-shut-us-crypto-staking/" target="_blank" rel="noopener noreferrer nofollow">a hefty fine</a> of $30 Million.&nbsp;

MetaMask Adds New Feature of Portfolio App to Support Staking

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Thecoinrepublic.com

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