The developer infrastructure provider arm of Coinbase has introduced a new staking program which does not require the standard 32 ETH or any other minimum amount.
Coinbase Cloud announced the Partial ETH Staking program for solo stakers and individuals who want to join as validators. The staking program is launched in partnership with Kiln, a staking service provider.
“As the staked ratio of ETH continues to rise post-Shapella upgrade, this enables wallet providers to meet the demands of users looking for more flexible staking options,” said the announcement blogpost.
As 99% of Ethereum wallets hold less than 32 ETH, the native Ethereum staking – which requires 32 ETH to become validator – is not accessible for the vast majority of individuals. This program will allow all small wallets and individuals primarily to participate in securing the network and earn rewards.
According to the announcement, Coinbase Wallet will be the first wallet to leverage this solution that enables its users to stake ETH without a minimum amount limit. Coinbase Cloud will offer its staking APIs to clients and other self-custodial wallet providers to access the new staking service.
“We are thrilled to have worked with Coinbase Cloud and to welcome them as the first (non-Kiln) node operator leveraging the Kiln On-Chain Staking Platform,” said the CEO and co-founder of Kiln, adding “This integration with Coinbase Cloud is unique because it allows them to enable other wallets and services, including DEXes, with the same limitless ETH staking solution that will be offered by Coinbase Wallet.”
This novel staking program is built on top of Coinbase Cloud’s existing staking infrastructure. It is offered within various staking products the company offers, such as Delegate.
Also Read: Vitalik Buterin’s Twitter Hacked Via SIM Swap Attack
