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Home Cryptocurrency Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

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When staking a validator, you need to deposit 32 ETH and actively manage your validator through the MetaMask Staking interface. You will be rewarded after deducting the commission, and you will be relieved of the obligation to maintain the validator.

What is MetaMask?

MetaMask is a handy browser extension designed to simplify interaction with the Dapp Ethereum ecosystem. In addition, it acts as a wallet for storing ERC-20 tokens, allowing users to access various services created in the network directly through their wallet.

A browser such as Chrome, Firefox, Opera or Brave is required to use this extension. Installation is done as a standard extension, similar to other plugins. After successful installation, the user can make transactions to any Ethereum address.

Dapps are automatically integrated with MetaMask, which simplifies the connection process. If payment is required in the Dapp, a pop-up window will appear requesting transaction confirmation from the MetaMask account.

Staking ETH in MetaMask

Go to MetaMask Portfolio and find the “Stake” section:

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

Click on the “Validator staking” tab at the top of the page:

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

Make sure that the selected account address is the one you want to use to make a deposit.

Use the slider to choose how much ETH you want to steak: (Note that you can only deposit in multiples of 32 – the amount of ETH needed for one validator)

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

Once you have determined the amount, the details of the staking transaction will appear. If you agree to proceed, you need to press the “Confirm” button:

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

You need to confirm and sign the transaction in your MetaMask wallet.

Done! After completing the transaction, your funds have been received and you are in the queue to start a new validator.

At this point, you should see one or more validators on the page, depending on how much ETH you have deposited into Staking.

The wait time for activation depends on the overall demand on the Ethereum network. To check your position at any time, simply hover over the “Activating” status next to each validator in the table.

MetaMask Commission for Staking the Ethereum Validator

It’s important to note that MetaMask charges a 10% commission to conduct the Ethereum steaking process.

How to withdraw validator rewards in MetaMask: Staking Ethereum?

The ability to request manual validator rewards is available at your convenience.

It is important to note that rewards can only be withdrawn to the account you used for Staking.

To request rewards, go to the Staking validator home page and click on the three vertical dots located to the right of the validator. Note that there must already be rewards available in the “Available rewards” column. Otherwise, you will not be able to make a withdrawal.

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

From the available options, select “Withdraw rewards only”.

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

On the “Review withdrawal” screen, you will be given the opportunity to scrutinize the details of the withdrawal. After careful review, you can click “Confirm” if you are ready to proceed.

It is important to note that the first time you make a withdrawal from the validator, you will have to sign an additional transaction to prepare the withdrawal address. You will then be able to request withdrawal transactions for each individual validator.

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

After waiting a little while for the transaction to be accepted and confirmed, the message “Transaction complete” should appear on the screen and the rewards should appear in your account.

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

Stop Staking and take out the entire validator balance?

You have the ability to exit your validator and withdraw all of your Staking, as well as any outstanding rewards, at any time you wish.

It is important to remember that you can only log out of one validator at a time. Your validator will stop receiving rewards once you log out.

To Withdraw, find the validator you wish to withdraw from and click on the three vertical dots to the right of its entry. Then select the “Withdraw total balance” option .

Review the withdrawal and click “Confirm” if you wish to proceed.

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

If you have never withdrawn rewards for this validator before, you will need to sign two transactions instead of one. The first one will prepare your account address for withdrawal, and the second one will make the withdrawal.

Sign the transaction in MetaMask. Back in the MetaMask portfolio, you will be able to confirm that your transaction is in progress.

Once the transaction is complete, your validator will move to the exit queue.

The length of the withdrawal queue depends on network activity – a rough estimate is displayed once withdrawals begin, and can be found at any time by hovering (or tapping on mobile) over the “Withdrawing” status displayed next to the specified validator.

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

Once the withdrawal process has been carried out, the funds you have withdrawn will not become immediately available. You will have to go back and request them from MetaMask Staking after the entire withdrawal process is complete.

When your balance is ready, the validator status will change to “Withdrawal complete” and you will see a “Claim balance” button.

Staking Ethereum in MetaMask: detailed setup. How to connect and become a validator?

Click this button to view the details, then “Confirm” to request the transaction to be withdrawn to your wallet.

At the end, you will see a message that your transaction is complete.

Once the transaction is confirmed in the chain, your balance and rewards will be in your account.

How does MetaMask calculate the reward for Staking Ethereum?

The projected reward for Staking provided before your validators are launched is calculated based on the average performance of similar validators in the previous week.

If you already have validators, the displayed reward represents your actual reward over the lifetime of your validators, less MetaMask’s commission (10%).

In general, validator rewards on Ethereum include a regular, constant prime rate, as well as variable rewards received each time your validator is randomly selected to participate in a block validation.

Regarding your validator’s withdrawal address – when you create a validator, the address for receiving rewards is customized. In the case of solo Staking (if you use the validator independently), you must use one of your account addresses.

However, when using Staking MetaMask, the developers customize the output address for you. This is done to ensure that the withdrawal address for each validator in MetaMask Staking is a unique smart contract. This contract ensures that MetaMask commissions can be taken and the majority of the rewards are directed to your account.

So even though you don’t see your account as a withdrawal address, the MetaMask developers claim that your rewards will be received. Your account used for initial steaking is the only account that has access to the withdrawal address (smart withdrawal contract).

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