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 ETH without the requite physical infrastructure.
Via P2P’s application, users on Safe can now stake their ETH directly “with just a few clicks whilst maintaining total ownership over their staked ETH,” said P2P CEO Alex Esin in the announcement Wednesday. Users who decide to stake 32 ETH – the minimum amount needed to stake on Ethereum – through the application will also have slashing protections, guaranteed by P2P, according to the announcement.
When a validator is not doing its duties, oftentimes for being offline, the network gives the validator a financial penalty and slashes the staked ETH. P2P has had zero slashing events and will cover the slashed amount depending on a user’s coverage option, according to P2P’s communication representative Rick Bagshaw.
Ethereum currently has more than 22.8 million staked ETH worth nearly $40 billion securing its network, data from blockchain analytics firm Nansen shows, and P2P’s integration 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 to a growing DeFi community,” said the announcement.
Edited by Nick Baker.
DISCLOSURE
Please note that our
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
which invests in
and blockchain
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
https://www.coindesk.com/tech/2023/06/14/p2porgs-ethereum-staking-application-is-now-available-on-popular-wallet-provider-safe/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
The post P2P.org’s Ethereum Staking Application Is Now Available on Popular Wallet Provider Safe appeared first on BTC Ethereum Crypto Currency Blog.