MetaMask, a popular cryptocurrency wallet that allows users to interact with a variety of decentralized applications (DApps), has announced a new feature that allows ETH to be withdrawn directly from one of its liquid staking providers, Lido.
Liquid staking is a process that allows users to stake their ETH and receive a tokenized equivalent of their staked ETH, such as stETH from Lido or rETH from Rocket Pool. These tokens can then be used in other DApps such as lending platforms or decentralized exchanges to generate additional returns.
Previously, MetaMask users who staked their ETH with Lido had to use a third-party service like StakeWise or Chorus One to withdraw them from Lido. This meant an extra step and cost for users who wanted to get their ETH back.
With the latest update, MetaMask users will now be able to withdraw their ETH directly from Lido within the MetaMask application. This makes the process simpler and more convenient for users who want to access their staked ETH.
MetaMask also announced that with the latest update, it also supports direct ETH withdrawals from another liquid staking provider, Rocket Pool.
MetaMask is one of the most widely used cryptocurrency wallets in the industry, with more than 10 million monthly active users. The wallet supports various blockchains such as Ethereum, Polygon, Binance Smart Chain and Arbitrum.
*Not investment advice.