Coinbase Cloud platform has taken a step to reward its users who are willing to stake their ETH holdings on the network. An additional reward by MEV-Boost, backed by Flashbots, will be automatically credited to Prime and Retail users. PBS, short for Proposer-Builder Separation, enables these rewards. Customers will have the option to choose to receive rewards through the Coinbase Cloud platform.
Rewards will not be the same for everyone. It will significantly vary for users, and Coinbase Cloud will not have any control over setting the percentage of rewards that users should receive. According to estimates, users can expect an increase of 100-200% in average block rewards earned.MEV Rewards allows many small users to earn their fair share of rewards instead of distributing them to a small number of large validators. It enables them to outsource the construction of a block to the competitive market, allowing them to select the one that shows better profits. The reward system aims to decentralize the network and promote greater security for community members.
Its mechanism has certain limitations, but MEV Rewards make the best use of its capabilities. Many benefits can be seen given to networks, validators, and users. The network continues to go in the direction of being decentralized and neutral, credit for which majorly goes to the solo staker community earning rates at a competitive margin. Validators can continue to leverage the reward mechanism without featuring it in the safelist. A lower transaction fee helps Ethereum users save money.
Coinbase Prime customers and Coinbase Retail customers do not have to do anything from their side to enable receiving the reward. The platform will automatically turn on the feature, provided they are staking ETH to the network. Other users must connect with their respective account managers to enable the reward mechanism for their profiles. However, this is expected to boost the image of the Coinbase exchange even though it is at its peak globally. Stay tuned to the website to get an unbiased review of crypto investments and the new initiatives, along with their corresponding rewards.
Only Bitcoin was allowed for trading purposes during the initial years. The venture later went on to expand its offering by including more cryptocurrencies. What’s best is that it also offers an eWallet where users can store their holdings and make payments to their friends. The affiliate program further helps the platform to grow in different regions. Enabling users to earn rewards automatically is a great step to promote ETH staking on the network. One can expect Coinbase Cloud to continue this partnership for a longer time.