P2P.org’s Ethereum staking app is now on Safe wallet.

P2P.org has introduced its Ethereum staking service to Safe, a decentralized custody protocol that stores over $38 billion in total assets. This move is expected to simplify the staking of ETH without requiring physical infrastructure.

Through P2P’s application, Safe users can now stake their ETH directly “with just a few clicks while maintaining complete ownership of their staked ETH,” according to P2P CEO Alex Esin’s announcement on Wednesday. Users who choose to stake 32 ETH – the minimum amount required to stake on Ethereum – via the application will also receive slashing protections guaranteed by P2P, according to the announcement.

When a validator fails to perform its duties, which often happens when it is offline, the network imposes a financial penalty on the validator and slashes the staked ETH. P2P has never had a slashing event and, depending on a user’s coverage option, will cover the slashed amount, according to P2P’s communication representative Rick Bagshaw.

According to data from blockchain analytics company Nansen, Ethereum currently has over 22.8 million staked ETH worth nearly $40 billion securing its network, and P2P’s integration with Safe is intended to make it easier for crypto users to participate in staking.

The announcement stated that P2P’s launch of its “first-ever direct staking app on the Safe Apps ecosystem” is a step toward providing “non-custodial staking services to a growing DeFi community.”

Edited by Nick Baker.

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