Consensys Staking: Diverse Stakers, One Solution
The importance of staking in the Ethereum ecosystem cannot be overstated. As the Ethereum blockchain moved to the Proof of Stake consensus mechanism with the Merge in September 2022, staking became the activity that ensured the robustness of the ecosystem.
The blockchain is simply data, and staking is what ensures that data’s integrity. The more nodes that contribute to validating transactions and adding blocks to the Ethereum network, the more decentralized and secure the blockchain becomes. In return for reinforcing the security of the network, validators earn staking rewards.
Contributing to the security of the Ethereum network by developing useful, reliable software tools is a priority for ConsenSys, the leading Ethereum and decentralized protocols software company. ConsenSys is therefore thrilled to introduce an updated and expanded version of its staking offering.
With over 17,000 Ethereum validators, and over $1B in total value locked to date, Codefi Staking is relaunching as ConsenSys Staking.
We aim to unlock the collaborative power of web3 communities by enabling everyone to gain a stake in decentralized networks. Our mission is to make staking accessible to everyone—by offering embedded and rich staking experiences that are highly secure, reliable and performant.
What is Consensys Staking?
ConsenSys Staking helps web3 participants earn rewards for securing the Ethereum network. We run your validators safely and effectively, so that you collect rewards and reduce risks of slashing and downtime.
Over the coming months, we will diversify where stakers can access our services. Today, we offer direct to validator staking experiences with a web application and an API, and also contribute to staking experiences from other platforms as MetaMask Institutional (MMI) and Lido. Users have loved and trusted ConsenSys’ industry-leading products for years, and can now safely extend that to ETH staking.
Why Stake with Consensys Staking?
Security and reliability are core components of our staking offering.
Our proven track record demonstrates why users chose to stake with us:
- Our staking solutions have been in production since the launch of the Beacon Chain in 2020
- Our validators have never been slashed, ever—thanks to the tools and processes in place to monitor, evaluate and mitigate our risks, in coordination with the ConsenSys security team.
- We have a participation rate upward of 99.9% for the validators we operate, indicating stable product uptime.
- Our infrastructure is non-custodial and distributed across multiple clouds, regions, and validator clients. This prevents threats that may lead to a correlated outage across the staking ecosystem.
- We have a SOC 2 Type I and II certification and are working on ISO20001.
- With real-time monitoring capability, users can consistently monitor validator performance.
- We are the creators of industry-leading applications such as:
- MetaMask: The leading web3 wallet. MetaMask enables users to self-custody their crypto and manage their stake.
- Infura: The most powerful suite of blockchain APIs and dev tools. The software behind Ethereum node operation since 2015.
- Teku: An open-source institutional-grade client. The software behind Ethereum’s validators.
- Our developers have also contributed significantly to the Ethereum core protocol
ConsenSys Staking is also self-serviceable, i.e. users can find answers to most of their questions within the product experience, without contacting us. Still, if they contact us, we offer 24/7 customer and technical support to ensure minimal service disruption.
How to Stake with Consensys Staking?
There are multiple ways that you can stake with ConsenSys Staking.
Stake through MetaMask Institutional: Organizations can choose to stake their ETH with any of the four staking providers available on the platform–ConsenSys, Allnodes, Blockdaemon, and Kiln–using MetaMask Institutional. Through our significantly simplified staking experience, organizations can choose a staking provider based on criteria such as validator performance and fees. Users need to stake a minimum of 32 ETH to stake through MMI.
Stake through the Consensys Staking application: Users can connect their wallet to stake ETH directly through their MetaMask wallet, or any other wallet supported by Wallet Connect. If they choose to stake through ConsenSys Staking application, they need a minimum of 32 ETH.
Stake using the Consensys Staking API: Users can integrate the Consensys Staking API into their application to build their own staking interface and experience.
Stake through Lido: Consensys Staking is one of the 30 providers that support Lido’s ETH staking offering. Lido’s algorithm allocates users’ stakes to the validator operators with the smallest shares within Lido’s available validators.
Why does SOC2 Certification Matter?
We are one of the first staking operators to acquire SOC 2 Type II certification—having received it in October 2022, issued by an independent American Institute of CPAs (AICPA) accredited auditor. A SOC 2 Type 2 report is an internal controls report capturing how a company safeguards customer data and how well those controls are operating. It is the industry security standard for Software as a Service Providers.
As one of the first staking operators in the industry to achieve this standard certification, ConsenSys Staking has voluntarily met the five trust service criteria of Security, Availability, Processing Integrity, Confidentiality and Privacy developed by the AICPA over a 12 month audit.
These measures help raise staker confidence in our services.