MetaMask Institutional (MMI) has created an Ethereum (ETH) single-stacker platform that gives institutional clients the ability to 'single bets'.
Through MetaMask's institutional wallet and storage service, four providers - ConsenSys Staking, Allnodes, Blockdaemon and Kiln - can be used for ETH stacking. The platform aims to make it easier for institutions to become Ethereum network validators by making it easier for them to access and manage single stacking.
In October 2021, MetaMask Institutional, a set of management tools designed for companies and organizations, was introduced. This staking service aims to make institutional staking more accessible, with more reasonable rates, terms, discounts and reporting standards.
Johann Bornmann, head of MMI products at ConsenSys, has suggested that the business is seeing a transformation from liquid rates to 32 ETH rates. He believes this is not only due to Ethereum 'merging' in 2022, but also due to the upcoming Shapella upgrade. This update will allow Ethereum validators to access their digital assets and rewards by unlocking the deposit withdrawal feature.
"We expect staking to become very popular in the near future. We have seen a significant increase in rates from corporates over the past few months and this development is likely to continue after the release of the update."
Simultaneously with the arrival of MMI's new extended dashboard, the staking market has kicked in. This enhanced dashboard offers institutional control, portfolio organisation, digital asset monitoring with built-in profit and loss analytics, performance tracking and transaction reporting.