By partnering with Allnodes, Blockdaemon, and Kiln, MetaMask introduces its pioneering platform for institutional staking endeavors.
In Brief
The newly launched marketplace is designed to attract a greater number of institutional entities into the world of web3.
In this venue, stakeholders can also access the staking product developed by ConsenSys.
The Web3 Portfolio dashboard by MetaMask Institutional is set to provide functionalities for institutional controls, overseeing portfolios, monitoring digital assets, and reporting on transactions.
Today marks the official launch of MetaMask Institutional's staking marketplace, created in conjunction with Allnodes, Blockdaemon, and Kiln.
For many organizations, diving into institutional staking can feel overwhelming due to the intricate details around fees, stipulations, rebates, and compliance standards. Add to that the variety among staking providers, each with distinct advantages like diverse infrastructure setups, from multi-cloud to multi-region strategies, and necessary certifications such as SOC2 Type 2 and ISO 27001.
MetaMask Institutional’s new staking marketplace seeks to simplify the process by providing access to premier staking options, along with uniform terms and conditions, as well as institutional-level reporting. Additionally, it will showcase ConsenSys' proprietary staking solution. This initiative aims to lower barriers for organizations looking to engage with web3.
"In the last couple of years, we’ve witnessed a remarkable surge of organizations venturing into web3 for a range of activities from NFTs to gaming and DeFi. At the foundation of these operations is a decentralized network. Following last year's Merge, and now with the upcoming Shanghai and Capella upgrade, there is an evident rise in demand from organizations eager to validate the Ethereum network. Our mission at MetaMask Institutional is to enable every organization to seamlessly transition into web3,\" remarked Johann Bornman, the Product Lead for MetaMask Institutional at ConsenSys.
The introduction of MetaMask's institutional staking marketplace aligns with Ethereum's anticipated Shanghai/Capella upgrade, slated for March or April 2023. This upgrade will allow users to withdraw their staked ETH. The press release indicates that since the Ethereum Merge, the total amount of staked ETH has surged by 4 million, now reaching an estimated 17.7 million.
When asked about their confidence that the upgrade will catalyze broader institutional adoption of Ethereum staking, Bornman pointed out that allowing stakers to withdraw directly via the Ethereum Protocol \"provides clearer insights into the rewards landscape and expected timelines for staking ETH, potentially instilling confidence in Ethereum staking, particularly among more cautious institutional investors.\"
Alongside the marketplace launch, MetaMask is rolling out a revamped Web3 Portfolio dashboard, designed to consolidate institutional controls, asset management, digital asset tracking, and transaction reporting into a unified interface. This will empower organizations to efficiently navigate between various EVM chains, monitor all ERC-20 tokens and the leading ten DeFi protocols, keep tabs on NFT collections, and manage portfolios collaboratively across teams.
Ultimately, the platform offers institutional features, including multi-custodial options and user management capabilities, which facilitate streamlined onboarding processes, comprehensive organization-wide portfolio views, and collaborative transactions for teams. Interested stakeholders can now explore these functionalities.
Binance Institutional is encouraging major corporations to take advantage of the current market dip. request access to the platform.
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Disclaimer
In line with the Trust Project guidelines Cindy, a journalist for Metaverse Post, delves into topics linked to web3, NFTs, the metaverse, and AI, with a strong emphasis on interviewing key figures in the Web3 sector. She has engaged with over 30 C-suite executives to share their insights with readers. Originally from Singapore, Cindy has made her home in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia, bringing a decade of journalism experience to her work.
