MetaMask Introduces Staking Functionality to Portfolio App

Adekunle Joshua

MetaMask, the leading web3 wallet, now offers a new feature in its Portfolio app for easy staking of Ether and Polygon's MATIC token to secure networks and earn rewards

Users can compare staking rates and diversify assets across providers in one dashboard, ensuring the best returns

ETH staking through Lido and Rocketpool, and MATIC staking through Lido and Stader Labs are supported in the app for users outside the United States

MetaMask routes tokens to the chosen provider for staking rewards, and users can withdraw their assets anytime

Despite easier access to staking services, regulators are tightening their grip on the crypto ecosystem

The IRS ruled that staking rewards must be reported as gross income in the year of receipt

The SEC views staking services as securities offerings and has targeted digital asset exchanges, imposing fines and forcing some to leave the US jurisdiction

Coinbase is currently in a legal battle with the SEC, highlighting the challenges for crypto platforms