P2P.org has brought its Ethereum staking service to Safe, the decentralized custody protocol that stores more than $38 billion in total assets, in a move that should make it easier for people to stake the ETH without the required physical infrastructure.
Through the P2P app, Safe users can now stake their ETH directly “with just a few clicks while retaining full ownership of their staked ETH,” Alex Esin, CEO of P2P, said in the announcement Wednesday. Users who decide to stake 32 ETH – the minimum amount needed to stake on Ethereum – via the app will also benefit from anti-slashing protections, guaranteed by P2P, according to the announcement.
When a validator fails to perform its functions, often because it is offline, the network imposes a financial penalty and reduces the ETH staked. P2P has not experienced any reduction events and will cover the reduced amount in depending on the user’s coverage option, according to P2P communications representative Rick Bagshaw.
Ethereum currently has more than 22.8 million ETH staked, worth nearly $40 billion, securing its network, according to data from blockchain analytics firm Nansen, and the integration of P2P with Safe aims to make it easier for crypto users to participate in staking.
P2P’s launch of its “first-ever direct staking app on the Safe Apps ecosystem” is a step toward supporting “non-custodial staking services for a growing DeFi community,” the announcement said.
Edited by Nick Baker.
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P2P.org’s Ethereum Staking App Now Available on Popular Secure Wallet Provider appeared first on BTC Ethereum Crypto Currency Blog.
