MetaMask Institutional, in partnership with Allnodes, Blockdaemon, and Kiln, has launched the first institutional-staking marketplace, bringing together staking providers and offering simple, one-click staking to institutions. The marketplace will also include Consensys’ own staking product.
The new marketplace aims to bring more organizations into web3 and boost Ethereum network security by simplifying ETH staking. So far, the total amount of staked ETH has reached 17.7 million since the Merge.
The upcoming Shanghai/Capella Update will enable staked ETH withdrawals, which could drive further institutional adoption by offering greater asset flexibility and control.
MetaMask Institutional is simultaneously launching advanced capabilities including institutional controls, portfolio management, digital asset monitoring with built-in P&L and performance attribution, and in-depth transaction reporting— to redefine the institutional web3 experience in a more powerful web3 portfolio dashboard. These new features will go-live on March 27th.
Paris, France, March 22, 2023 — Today, MetaMask Institutional, the web3 wallet for organizations developed by Consensys, and the first multi-custodial institutional web3 offering on the market, launched its institutional staking marketplace in partnership with Allnodes, Blockdaemon, and Kiln. The marketplace will also leverage Consensys’ own technology with Consensys Staking (formerly Codefi Staking). This first-of-its-kind platform is designed to simplify and provide unrivaled access to institutional staking. The nuances and complexity of institutional staking can deter companies looking to participate. MetaMask Institutional’s marketplace will level the playing field by bringing together these best-in-class partners to provide institutions with a simple one-click staking experience.
Choosing the right vendor for institutional staking can be complicated due to the differences in the fees charged, terms and conditions, rebates, and reporting standards. In addition, various staking providers offer different benefits to institutions, ranging from differences in infrastructure (multi-cloud, multi-region, and multi-client) to certifications (SOC2 Type 2 and ISO 27001). MetaMask Institutional’s staking marketplace will reduce this complexity by streamlining access to top-tier staking providers; offering standardized terms and conditions, institutional-grade reporting; and a simplified staking experience—to facilitate broader institutional web3 participation.
Staking promises to be an increasingly crucial foundation of the crypto industry. In September 2022, the Ethereum Merge delivered several significant improvements, including transitioning the world’s second-largest cryptocurrency (ETH) from Proof-of-Work to Proof-of-Stake and reducing the network’s carbon footprint by 99.95%. The upcoming Shanghai/Capella Upgrade is expected in March/April 2023 and will enable withdrawals of staked ETH. Since the Merge, the total amount of staked ETH has grown by 4 million, reaching a current total of approximately 17.7 million. In anticipation of the upgrade, Ethereum staking could experience a further surge in institutional adoption as it will offer greater flexibility and control over assets.
This marketplace launch comes just two months after MetaMask launched staking functionality for users, marking a significant step forward in the platform's offerings for individual and institutional investors.
“The Ethereum Merge last year was one of the most profound accomplishments in the history of Crypto—resulting in increased economic security, reduced energy costs, and client diversity. With withdrawals coming soon, we believe institutional demand to secure the world's computer will surge. We are delighted to work with these ‘best-in-breed’ staking partners. We believe MetaMask Institutional can play a unique role in providing unrivaled and seamless staking access to all organizations,” said MetaMask Institutional Product Lead Johann Bornman.
On the side of staking service providers—Engaging with institutions requires multiple custodial integrations. It also means institutions are bound by the provider their custodian has chosen. However, MetaMask Institutional today is integrated with 11 custody and self-custody platforms globally. This allows institutions seamless and unrivaled access to staking providers.
"We are excited to announce our collaboration with Consensys to launch the world's first institutional staking marketplace on MetaMask Institutional,” said Konstantin Boyko-Romanovsky, CEO and founder of Allnodes. “By leveraging our resilient and high-performance node infrastructure with Consensys's intuitive user interface, institution-grade security, and extensive range of services, we aim to bring more people into the space and drive the growth of the Web3 ecosystem.”
“Blockdaemon is committed to securely connecting institutions to crypto and DeFi with ever-increasing ease and simplicity. Metamask's new Institutional Marketplace is an excellent way to experience how automated protocol solutions can incentivize institutions to participate in securing the Ethereum network," said Konstantin Richter, Blockdaemon Founder and CEO. "We couldn’t be prouder to be one of the partners to bring Metamask’s Institutional Marketplace to life."
“Our mission at Kiln is to make enterprise-grade staking seamless and secure for everyone. We are delighted to integrate Kiln’s ETH staking platform with MetaMask Institutional’s product and network. This integration allows enterprise customers worldwide to help secure the Ethereum network and be rewarded for it. It’s a great milestone to meet an ever-increasing demand as the Shanghai upgrade approaches.” Laszlo Szabo, co-founder and CEO of Kiln
In addition to the marketplace, MetaMask Institutional is introducing a more powerful Web3 Portfolio Dashboard, offering a range of cutting-edge tools that will enable organizations to better manage how they interact with web3. MetaMask Institutional’s Web3 Portfolio dashboard will offer institutional controls, portfolio management, digital asset monitoring, and transaction reporting, all in one place. These new features will go-live on March 27th.
With these features, organizations will be able to swap across different EVM chains. The platform also allows for digital asset monitoring, including profit & loss and performance attribution for all ERC-20 tokens and the ten most prominent DeFi protocols. It also allows tracking NFTs and bundle accounts to manage portfolios across team members and organizations. Additionally, the platform's advanced transaction classification and reporting features provide detailed information on holdings and transactions, making it easy for users to reconcile their transaction history with their fund admins. Finally, the platform's institutional controls, including multi-custodial organization and user management, enables organizations to automate onboarding, see organization-wide portfolio views, and transact as a team, providing unparalleled convenience and flexibility to institutional investors.
For more information on MetaMask Institutional's institutional staking marketplace and web3 portfolio dashboard, interested parties can request access to the platform here.
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Consensys is a leading Ethereum and decentralized protocols software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, MetaMask, Truffle, Diligence, and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, visit https://consensys.io.
Since 2017, Allnodes.com has been an industry leader in non-custodial staking and blockchain node infrastructure for both retail and institutional investors. With headquarters in the United States and team members worldwide, Allnodes promotes the adoption of Proof Of Stake with straightforward flat fee pricing, data centers all over the globe, and an easy-to-use user interface that allows users to host blockchain nodes or stake directly to the networks on over 65 protocols in less than 2 minutes.
Blockdaemon powers the blockchain economy with its suite of industry leading infrastructure solutions. We are a globally established, single integration partner for accessing premier blockchain networks. We provide integrated business solutions to exchanges, custodians, crypto platforms, financial institutions and developers using our end-to-end suite of blockchain tools, including dedicated nodes, APIs, staking, liquid staking, MPC tech, and more. Blockdaemon provides its customers with the confidence to quickly and easily scale without compromising security or compliance.
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake assets, and to whitelabel staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data and commission management.