MetaMask introduces liquid staking in dapp for an easy and convenient way to stake ETH

The Portfolio Dapp has introduced MetaMask Staking, its latest feature for 2023. With this feature, you can stake ETH through MetaMask using liquid staking providers Lido and Rocket Pool. The Portfolio Dapp has a growing list of features, including Portfolio View, Bridges, Swaps, and now staking.

Staking is the process of securing the Ethereum network by locking up tokens in a smart contract and receiving rewards in return. There are three ways to stake - liquid staking, solo staking, and custodial staking. With MetaMask Staking, you can engage in liquid staking with providers Lido and Rocket Pool, where you deposit ETH and receive a token representing the value of your stake.

Lido issues stETH in exchange for ETH, while Rocket Pool issues rETH in exchange for ETH. stETH is a rebasing token that accrues rewards over time, while rETH is a repricing token that accrues rewards by increasing the amount of ETH that it's redeemable for. You can choose to hold onto the stETH/rETH token, use it as collateral in DeFi, or swap it for another token.

MetaMask Staking provides a user-friendly interface to connect directly with Lido and Rocket Pool smart contracts, but it does not provide the staking service itself. To stake, visit portfolio.metamask.io, choose your desired staking provider, enter the amount you want to stake, review and confirm the transaction, sign the transaction in your wallet, and view your holdings.

With the growing demand for simple staking services in the post-Merge world, MetaMask Staking offers an easy way for both seasoned stakers and new participants to secure the Ethereum network and receive rewards