Rocket Pool

Rocket Pool

RPL
$21.69%-3.21

Key Metrics

Price$21.69
Real Volume (24H)$6,315,705.13
Marketcap$441,729,691.98
Fully Diluted Valuation$100,000,000
ATH$59.46
ATH Date11/9/2021, 7:03:31 AM
ATL$0.00884718
ATL Date8/28/2018, 3:00:00 AM
Circulating Supply19M
Total Supply19M
Popularity Rank154
Chart
What is Rocket Pool?

Rocket Pool is a decentralized Ethereum staking pool that offers users a way to earn rewards for staking their Ether. With up to 4.33% APR for ETH2 staking, Rocket Pool is an innovative solution that enables anyone to participate in staking, regardless of their capital investment or level of technological sophistication.

Users can join the Rocket Pool network by becoming a decentralized node operator or by running their own nodes with as little as 16 ETH. In the latter case, users can earn a commission from staking ETH and additional RPL rewards by providing RPL collateral. This can amount to up to 6.36% APR for ETH and RPL rewards combined.

Rocket Pool's liquid staking feature allows users to benefit from an increasing exchange rate, rather than having to rebase their staked collateral, which would be a taxable event. Additionally, the platform offers smart nodes, which are a custom node software that allows anyone to run a node on the network. With losses from bad nodes socialized across the network, users can minimize their risk of facing penalties. This is supported by the pool's open-source and audited smart contracts, which guarantee fully non-custodial staking and a maximum degree of decentralization.

Rocket Pool was founded by David Rugendyke, a senior developer with a computer science background, and General Manager Darren Langley, an executive with over 18 years of experience in managing and mentoring development teams, designing application architecture, and delivering exciting digital products for government and financial services. The team is complemented by three blockchain and Solidity engineers with a combined 40 years of experience.

Rocket Pool offers two ways for users to participate in staking: through rETH and Node Staking. rETH is a tokenized version of the staked ETH in Rocket Pool, which allows stakers to engage from 0.01 ETH to up to 32 ETH. By staking their Ether, users receive rETH in return, which automatically accrues staking rewards based on the performance of the entire network of node operators. The value of rETH is protected against slashing through insurance mechanisms, with node operators staking RPL on nodes as collateral for any penalties they incur.

Node Staking, on the other hand, allows users to deposit 16 ETH and be assigned an additional 16 ETH from users who are depositing ETH and receiving rETH. In essence, users stake their own 16 ETH and 16 ETH on behalf of the protocol. Rocket Pool automatically adjusts its commission rate based on the supply and demand of node operators and available ETH. With this model, node operators are rewarded for providing insurance for stakers in case they are penalized or slashed. Furthermore, node operators must deposit a minimum amount of RPL as collateral.

Rocket Pool sees itself as a complement to staking-as-a-service providers, and the platform can be used by big players like Gemini, who can create nodes that stake 16 ETH each and receive rewards in ETH and RPL in return. Overall, Rocket Pool is a unique solution that offers anyone to participate in ETH2 staking and earn rewards for staking their Ether in a trustless, decentralized and autonomous manner.

Rocket Pool is also designed to be scalable, allowing it to accommodate a large number of users and nodes. Its smart node software ensures that the network can handle high levels of activity, and the platform's decentralized architecture ensures that the network is able to function even if some nodes go offline.

Another key feature of Rocket Pool is its governance system, which allows users to vote on important decisions regarding the platform's development and operation. This decentralized governance model ensures that the platform is constantly evolving and adapting to the needs of its users.

One of the key benefits of using Rocket Pool is the ability to earn rewards on a regular basis, as opposed to waiting for a long period to earn rewards, as is the case with other staking platforms. The platform's liquid staking feature also means that users can withdraw their staked ETH at any time without facing penalties or taxes.

Rocket Pool also has a strong focus on security, with its smart contracts and node software undergoing regular audits to ensure that they are secure and free from vulnerabilities. The platform also has a built-in insurance mechanism to protect against penalties and slashing.

In conclusion, Rocket Pool is an innovative, decentralized staking platform that offers users a way to earn rewards for staking their Ether. With its liquid staking, smart nodes, and decentralized governance, the platform offers users a unique, secure, and flexible way to participate in staking. Its low barrier to entry and scalability make it accessible to anyone, regardless of their investment or technological expertise. Rocket Pool sees itself as a complement to staking-as-a-service providers, and the platform can be used by big players like Gemini, who can create nodes that stake 16 ETH each and receive rewards in ETH and RPL in return. The platform is constantly evolving and adapting to the needs of its users and is poised for further growth and development in the future.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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