What is Rocket Pool (RPL)?
Rocket Pool is a pioneering ETH staking pool that is also compatible with Ethereum 2.0 staking. It was originally founded in late 2016 and has since conducted over 5 successful public beta tests during the lifetime of Ethereum 2.0 development. The project offers liquid staking, which benefits stakers when the exchange rate is rising, and smart nodes, which allow anyone to run a node.
Aimed at accommodating stakers across all sizes, Rocket Pool was designed to enable anyone to safely stake ETH through a decentralized network of nodes while retaining full autonomy backed up by RPL coin. You can find the live Rocket Pool price chart above. It shows the current and the previous RPL price.
In essence, Rocket Pool allows everyone to stake ETH, regardless of their financial capacity or level of technological competence. Users can run their own nodes with just 16 ETH or join the Rocket Pool, which is a decentralized network of node operators.
Users who simply choose to stake ETH, receive rETH in exchange. rETH automatically accumulates staking incentives based on the performance of the network's node operators as a whole. With Node Staking, however, users who deposit 16 ETH and receive rETH can also allocate additional 16 ETH from other users. Then, they end up staking 16 ETH of their own money while also staking 16 ETH that belongs to the protocol.
Besides, note that rETH is a Rocket Pool staking deposit token.
RPL Use Cases
RPL tokens have two main use cases – governance and staking. As a governance token, RPL provides its holders with voting right while deciding various decisions concerning the Rocket Pool crypto project. In terms of staking, RPL coins can be staked for insurance.
Planning to acquire RPL tokens? If you are, make sure to check the Rocket Pool price chart. Knowing the current and the previous RPL price will help you to make better purchasing decisions.
Who Founded Rocket Pool?
David Rugendyke, a senior computer scientist with 18 years of experience, established Rocket Pool in the final quarter of 2016. He is an expert on cryptocurrency and currently serves as the Chief Technology Officer for this project. Additionally, an impressive team composed of developers, blockchain engineers, and marketing specialists with many years' worth of expertise contribute to advancing and maintaining Rocket Pool.
RPL has a max supply of 18,970,871 tokens. The distribution is quite straightforward, with 70% being used as insurance for node operators, 15% going to Oracle DAO members, and the remaining 15% intended for developing the ecosystem through the DAO treasury protocol.