- Rocketpool allows users to stake Ethereum and withdraw them at any time through liquid staking.
- Liquid staking allows users to withdraw or add liquidity at any point in time, where users can receive Liquidity Provider (LP) token after depositing $ETH on the protocols.
- The LP tokens allow users to redeem their deposited tokens or use them on other DeFi protocols for additional yields. However, it carries a certain level of risk depending on protocols.
Table of Contents
Coins Wiki: RPL (Rocket Pool)
|Whitepaper||Rocket Pool Whitepaper|
|Summary of Token||Rocket Pool is a decentralized Ethereum 2.0 staking pool that allows users to stake their ETH and earn rewards.|
|Overview of Token||Rocket Pool is a decentralized Ethereum 2.0 staking pool that allows users to stake their ETH and earn rewards. It is an open-source project that was created to make staking easier and more accessible for everyone.
Rocket Pool works in a dual token model, rETH and RPL. RPL is the native token for RocketPool, which is used to incentivize node operators for high uptime and discourages incurring penalties. Node operators can stake RPL to receive a higher share in protocol commissions but will be punished in the event of slashing of eth rewards.
rETH is the liquidity token representing tokenized staking. When a user deposits ETH, they will receive rETH. The value of rETH will proportionately increase to ETH based on ETH staking APY.
rETH can be exchanged back for the deposited ETH or can be used on other DeFi protocols.
|Audit||Sigma Prime Audit|
|Circulating Supply||19,113,413 RPL|
|Number of Holders||7,215*|
|Where to Buy & Sell||Trade $RPL on CoinsPro a BSP-regulated licensed crypto exchange in The Philippines|
|Token Use Cases||RPL Token has 3 main functions, slashing insurance, network incentives, and governance.
RPL tokens are used to incentivize users to stake their ETH in the Rocket Pool network, and they can be used to pay for fees associated with staking or for other services within the Rocket Pool network.
|*as of writing|
What is RPL (Rocket Pool)?
RocketPool is a decentralized Ethereum staking pool platform. Staking is a process that allows cryptocurrency holders to participate in validating transactions on a blockchain network in exchange for rewards. RocketPool's platform allows users worldwide to stake their ETH in different staking pools, sharing the rewards obtained from staking without a central authority.
The goal of RocketPool is to make the Ethereum staking process more accessible for all users, including those with small ETH balances. Users can stake their ETH without needing to maintain a full node, which requires technical knowledge and 32 ETH.
Recent Developments of Rocket Pool
Since its launch in 2020, Rocket Pool has seen steady growth in its user base and total volume locked (TVL) from $0 TVL in 2020 to $998.73 million TVL in March 2023.
The project has also developed new features to enhance the offerings that the platform provides:
- Partnership with Metamask: RocketPool will be partnering with MetaMask to allow staking directly on the MetaMask wallet, which can help increase adoption for Rocket Pool.
- Unified Grafana Dashboard: The team created a new Grafana Dashboard to help node operators track and access the stats, progress, and overall health of their nodes.
Rocket Pool's Staking Protocol is an innovative solution that allows more people to participate in validating the Ethereum network and receive rewards for their contributions. The protocol uses a validation pool approach and a guarantee system to encourage participation and protect the integrity of the network. With Rocket Pool's Staking Protocol, users with as little as 0.01 ETH can participate in the staking process, allowing them to earn some yields from their Ethereum deposits.
How to buy $RPL in the Philippines?
Via Coins Pro, BSP Licensed Spot Exchange:
- Step 1: Log into your Coins Pro account and click [Balance].
- Step 2: Select the currency you want to deposit, click on [Deposit] and enter your desired cash-in amount.
- Step 3: Select RPL/PHP pair and enter the [Order Quantity] you would like to trade.
- Step 4: Click Buy or Sell to place your Limit and Stop Orders.
- Step 5: Wait for your order to be filled
How To Deposit & Withdraw RPL to Coins Pro In The Philippines?
Step 1: Get whitelisted for Coins Pro’s Wallet Address here
Step 2: Our team will provide access to you shortly within two working days..
Step 3: Once you have access, Tap [Deposit] and select [Deposit from Wallet]
Step 4: Complete your order.Learn more on What is Coins Pro Crypto Deposits and Withdrawals? How to Deposit & Withdraw?
Disclaimer: The information and publications in this article are not intended to be and do not constitute financial advice, investment advice, trading advice, or any other advice or recommendation offered or endorsed by Coins.
Get your crypto journey started with Coins.ph
Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first-ever blockchain-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank.
Sign up for a Coins.ph account now to start trading OR download the Coins.ph app. Once you have verified your account, you can convert PHP into the cryptocurrencies of your choice.
Get P50 in BTC when you sign up(with level 2 verification) and fund P200 into your coins wallets with promo code: coinsacademy
Start trading your favorite Crypto on Coins Pro with fees as low as 0.05%!
Join the Coinmunity
Connect with like-minded crypto enthusiasts! Be the first to learn about our news and campaigns.
Join us on:
- Twitter: https://twitter.com/coinsph
- Discord: https://discord.io/coinscommunity
- Telegram (Announcements): https://t.me/coinsph_announcements
- Telegram (Community): https://t.me/coinsphfilipino
- Instagram: https://www.instagram.com/coinsph/
- Facebook: https://www.facebook.com/coinsph/
- TikTok: https://www.tiktok.com/@coinsph_official
- YouTube: https://www.youtube.com/coinsph