P2P.org has launched its Ethereum staking service on Safe, the decentralized custody protocol that stores more than $38 billion in total assets. According to P2P CEO Alex Esin, users on Safe can now stake their ETH directly with just a few clicks whilst maintaining total ownership over their staked ETH. Those who stake 32 ETH – the minimum amount needed to stake on Ethereum – through the application will also have slashing protections, guaranteed by P2P.
Slashing occurs when a validator is not doing its duties, oftentimes for being offline, and 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.
Ethereum currently has more than 22.8 million staked ETH worth nearly $40 billion securing its network, 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.