MetaMask Institutional announced the opening of a new staking marketplace for its institutional clients
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MetaMask Institutional (MMI), a crypto storage platform designed for organizations and businesses, introduced a new ETH staking marketplace for its institutional clients.
The institutional version differs from MetaMask retail wallet by more versatile controls and functionality. With the new marketplace, organizations will be able to manage ETH staking through four select vendors — ConsenSys Staking, Allnodes, Blockdaemon and Kiln.
Besides, the new feature aims to simplify access and management of solo staking, allowing institutional clients to become Ethereum network validators. Typically, institutional staking has a complex mechanism with varying fees, terms and conditions, rebates and reporting standards. However, the MMI update provides institutions with a direct avenue to becoming Ethereum validators by staking 32 ETH.
The service is a timely addition, considering the upcoming Shanghai/Capella upgrade. It has already driven a shift from liquid staking to 32-ETH staking, increasing investors’ confidence. Besides, the number of ETH validators has grown to 500,000 in the anticipation of the upgrade.
Shanghai will allow solo stakers to withdraw their tokens and have access to accrued staking rewards without the need to participate in liquidity provider pools.
Currently, there’s a marked increase in Eth2 staking by institutions and the staking rate has the potential to increase rapidly along with the new opportunities for validators.
The staking marketplace will be enhanced with the announced advanced MMI dashboard. It will reportedly include institutional controls, portfolio management, digital asset monitoring with built-in profit-and-loss and performance analytics as well as transaction reporting.
