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RPL is now listed on Cryptology!

November 24, 2023
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What is Rocket Pool?

Rocket Pool is the definitive staking pool on the Ethereum network. 

Earn lucrative APR rewards on the Rocket Pool protocol, lending a hand to maintaining the Ethereum mainnet.

Join the staking fun today with Rocket Pool’s designated node validators, or become one when you stake just 16 ETH.

Returns on Rocket Pool are between 4.33% and 6.36% APR for ETH staking, including additional RPL token rewards. More on that below!

You can build your own operators through smart nodes on Rocket Pool. If a bad node is added to the network, losses are distributed, minimizing user penalties. 

Liquid staking services like Rocket Pool also cancel out extra fees as users benefit from an increasing exchange rate rather than adding their stake of tokens to their collateral.

Thanks to the fully open-sourced smart contracts, staking is non-custodial, and Rocket Pool remains decentralized!

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📈 Spot trading of RPL/USDT

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The RPL token

The native token of Rocket Pool is RPL, an ERC-20 token built on Ethereum.

RPL token is pivotal in the Protocol DAO, one of the two Decentralized Autonomous Organizations on Rocket Pool.

Protocol DAO is where RPL inflation, rewards, auctions, staking conditions, commissions for nodes, and deposits are all looked after.

The other is the Oracle DAO. Here smart contracts from the Beacon chain are bridged with the Ethereum mainnet. Those participating in Oracle DAO are big ETH stakers, including ConsenSys and Bankless. 

To become a node operator on Rocket Pool, you must stake both ETH and RPL tokens to get access.

Rocket Pool added a 5% inflation mechanism, as they believe the user is at the expense of the token’s value. Furthermore, when the new RPL token was issued in 2021, the distribution was changed to the following:

 

  • Node Operators - who stake RPL as insurance collateral (70%)
  • Oracle DAO - members providing various oracle data (15%)
  • Protocol DAO Treasury - funds decentralized development (15%)


RPL’s market stats:

  • Current market cap: $558,316,523
  • Circulating supply: 19,768,220 RPL
  • Max supply: 19,768,220 RPL
  • Twitter: 46,481 followers 




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Risk Disclosure Statement

The information provided in this article is for educational and informational purposes only and should not be construed as financial, tax, or legal advice or recommendation. Dealing with virtual currencies involves significant risks, including the potential loss of your investment. We strongly recommend you obtain independent professional advice before making any financial decisions. The products and services offered by Cryptology may not be suitable for all users and may not be available in certain countries or jurisdictions. The promotional materials do not guarantee any specific outcomes or profits from virtual trading. Past performance is not indicative of future results. It is important to read and understand the risks, which are explained in our Risk Disclosure Statement

Katya V.

Katya is one of Cryptology’s skilled content managers and a writer with a diverse background in content creation, editing, and digital marketing. With experience in several different industries, mostly blockchain and others like deep tech, they have refined their ability to craft compelling narratives and develop SEO strategies.