Business News Report
March 22, 2023

MetaMask Joins Forces with Allnodes, Blockdaemon, and Kiln to Launch the First Institutional Staking Marketplace

In Brief

The new marketplace aims to bring more institutional organizations into web3.

The marketplace will also include ConsenSys’ own staking product.

MetaMask Institutional’s Web3 Portfolio dashboard will offer institutional controls, portfolio management, digital asset monitoring, and transaction reporting.

MetaMask Joins Forces with Allnodes, Blockdaemon, and Kiln to Launch the First Institutional Staking Marketplace

MetaMask Institutional, the web3 wallet for organizations developed by ConsenSys, has launched today its institutional staking marketplace in partnership with Allnodes, Blockdaemon, and Kiln.

Institutional staking can be a daunting task for many organizations, primarily due to the complexities surrounding fees, terms and conditions, rebates, and reporting standards. The differences among staking providers further complicate the process, as they offer varying benefits such as different infrastructure options, ranging from multi-cloud, multi-region, and multi-client, to certifications like SOC2 Type 2 and ISO 27001.

MetaMask Institutional’s staking marketplace aims to streamline access to top-tier staking providers while offering standardized terms and conditions, institutional-grade reporting, and a simplified staking experience. The marketplace will also include ConsenSys’ own staking product. With this platform, MetaMask hopes to make institutional web3 participation and adoption more accessible. 

“Over the last two years, we have seen an explosion of organisations accessing web3 to participate in everything from NFTs to Gaming and DeFi. Underlying these applications is the decentralised network itself. Since the Merge last year and now with the Shanghai and Capella upgrade, we see a similar demand from organisations to validate the Ethereum network. It is MetaMask Institutional’s goal is to bridge every organisation into web3,”

Johann Bornman, MetaMask Institutional Product Lead, ConsenSys, told Metaverse Post.

The launch of MetaMask’s institutional marketplace comes ahead of Ethereum’s upcoming Shanghai/Capella Upgrade. Expected to happen in March/April 2023, the upgrade will enable withdrawals of staked ETH. According to the press release, the total amount of staked ETH has grown by 4 million since the Ethereum Merge, reaching a current total of approximately 17.7 million.

When asked why MetaMask Institutional believes that the upgrade will bring further growth in institutional adoption of Ethereum staking, Bornman explained that giving stakers the ability to unstake directly from the Ethereum Protocol “provides more clarity in the rewards profile and time horizon for staking ETH, and could inspire confidence in Ethereum staking, especially amongst typically risk-averse institutions.”

In addition to the marketplace, MetaMask is introducing an updated Web3 Portfolio dashboard that will offer institutional controls, portfolio management, digital asset monitoring, and transaction reporting all in one place. With that, organizations will be able to swap across different EVM chains, monitor digital assets for all ERC-20 tokens and the ten most prominent DeFi protocols, track NFTs, and bundle accounts to manage portfolios across team members and organizations.

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. Interested parties can now request access to the platform.

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Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.

More articles
Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via cindy@mpost.io with press pitches, announcements and interview opportunities.

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