MyEtherWallet is one of the most popular and widely-used wallet suites in the entire Ethereum ecosystem, while Staked is an institutional staking services provider for top proof-of-stake (PoS) blockchains. Now, the two quality projects can be used together.
That’s because this week MyEtherWallet announced it integrated Staked’s new Eth2 staking service in its flagship web dashboard and the MEW Android app.
The beginning of Eth2, dubbed Phase 0, is new itself after having kicked off on Dec. 1st, setting Ethereum decisively on the path to its biggest evolutions to date. MEW’s Staked integration is similarly novel because it marks the first time Eth2 staking services can be readily accessed by mobile users.
As MEW CEO and founder Kosala Hemachandra noted in a press release shared with Blockonomi:
“By integrating Staked, we’re allowing users to stake on Ethereum 2.0 in a way that’s easy and accessible by nature. Ethereum 2.0 moving forward is a huge step for our community, and we want MEW users to know that as Ethereum continues to play a more and more prominent role in the world, we’re going to continue to build MEW into a nexus point for the entire Ethereum ecosystem.”
Indeed, MEW now has a great shot at becoming a go-to, one-stop hub for non-custodial mobile Eth2 staking and beyond, while the integration gives Staked, which also offers services like the Robo-Advisor Yield (RAY), direct access to serving MEW’s droves of users.
“MEW is rightly regarded as one of the original Ethereum wallets and it is only fitting that MEW users can now take advantage of our staking infrastructure to participate in Ethereum’s major upgrade,” Staked CEO Tim Ogilvie said.
The kicker? The new staking integration will be easy to use, as just a few clicks will be all that’s need for users to start earning their Eth2 validator rewards (which are currently generating yearly returns around ~15% right now).
MEW Evolved Beyond Mere Wallet App
If you’re not familiar with MEW or haven’t used it in the while, you might think it’s just an Ethereum wallet provider. “Wallet” is in the company’s name after all!
Yet that’s not so, particularly in recent months as MEW has made strives to build out a DeFi Hub that offers a suite of services and integrations that are useful for Ethereum power users and novices alike.
Weeks later, MEW followed up that release by integrating with stalwart DeFi projects like Aave and Ren via MEWconnect, a predecessor of MEW’s newer and improved mobile app offerings. These apps have become increasingly popular, as they allow users to easily move BTC onto Ethereum and more.
Challenges Ahead for Eth2?
In an interview earlier this month, MEW CEO Kosala Hemachandra said the ongoing Eth2 roadmap will come with its share of difficulties. That’s not necessary suprising, to be sure, but it does suggest that the full Eth2 upgrade is likely going to span several years.
At the time, Hemachandra said:
“Basically, after the Beacon Chain launch Ethereum will focus on Phase 1 specs. It will go through a lot of iterations similar to Phase 0 and tons of bug fixes. It is hard to define a specific issue as the next hurdle since there will be a lot.”
As such, the MEW CEO estimated the full actualization of Eth2 would take at least 3 years if not longer.
“With what I’ve seen in the past, I believe ETH 1 will take approximately 1 yr, then 1.5 should take another 6 months … Phase 2 might take at least 1.5 yrs,” Hemachandra noted.