The institutional version of web3 wallet MetaMask today unveiled its staking marketplace as the regulatory perception of proof-of-stake tokens continues to evolve.
The platform, which will go live on March 27, enables firms looking to delve into staking to access products with standardized terms and conditions for four different staking providers. Those include Kiln, Blockdaemon, Allnodes and ConsenSys Staking.
"It's really hard for institutions to decide which provider to go with — the average spent on that is up to twenty hours," said MetaMask Institutional product lead Johann Bornman in an interview at Kiln's side event during Paris Blockchain Week. "And you also have this very complex decision to make between different terms and conditions and different features across different staking providers."
Those initial partners are set to be expanded over time with liquid staking also trumpeted as a possible addition to the marketplace in the future.
"I do think that liquid staking tokens have a huge role to play in the future web3," continued Bornman. "We are very much in mind of how do we start adding liquid staking options for our users."
All eyes on staking
The launch comes with staking under the regulatory microscope in the U.S.
Last week, Securities and Exchange Commission Chair Gary Gensler suggested to reporters that tokens using staking protocols could be considered securities under U.S. law. Those comments come off the back of the SEC's first staking-as-a-service enforcement action — charges which were settled with Kraken last month.
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