Rocket Pool is a decentralized network designed for Ethereum 2.0 staking. It provides users with the option to earn staking rewards on their ETH holdings without the need for extensive technical knowledge. RPL is the network's native governance token and can be staked on a Rocket Pool node.
Check the live Rocket Pool price, total supply, circulating supply, 24-hour trading volume, fully diluted market cap, historical statistics, etc., along with data on several of the biggest and fastest-growing cryptocurrencies on CoinStats, one of the best crypto platforms around.
CoinStats is a cryptocurrency research and portfolio tracker app that provides valuable information on cryptocurrency news and investment advice to help investors make better decisions.
Read on to learn everything you need to know about the Rocket Pool project and the RPL token.
What Is Rocket Pool
Rocket Pool is a decentralized and trustless Ethereum 2.0 staking protocol designed to let Ether holders stake their tokens, put them to work, and get rewards. Rocket Pool enables staking ETH with lowered capital and hardware requirements.
By depositing Ether, token holders receive rETH, the Rocket Pool protocol's liquid staking token, which accrues staking rewards over time. Users can then put their rETH to work on various DeFi protocols or sell the tokens. Everyone can run a node in Rocket Pool by depositing 16 Ethers and the protocol's native token RPL as collateral. The required amount of RPL tokens is a minimum of 10% of the deposited Ether's value. The token acts as insurance. If any penalty occurs, the protocol will sell the collateral and return the sale proceeds to the network.
Before getting into Rocket Pool, staking on Ethereum's Beacon Chain is done through validators. The required amount of a deposit is 32 ETHs. In Rocket Pool, users can provide 16 ETHs, and the protocol will add the other 16. Node operators get rewards from their 16 ETHs and a commission from deposits.
RPL holders can take part in the governance of Rocket Pool, deciding on smart contracts upgrades and other changes.
Rocket Pool Founders
Rocket Pool was founded in 2016 by David Rugendyke. He is an Ethereum Solidity developer and the CTO of Rocket Pool. Rugendyke has a background as a computer scientist and more than 18 years of experience as a senior developer. He got into blockchain technology in 2013, when Bitcoin started to appear in the media more often.
In 2016, Rugendyke started working on Rocket Pool as he got interested in Ethereum's technology and its smart contract programming language, Solidity.
RPL Launch and Supply
RPL token was launched in 2017 after the presale and Initial Coin offering (ICO). In ICO, RPL price was 0.00083 ETH, or around $0.98. The initial max supply of the token was 18,000,000, 54% of which was distributed between presale investors, 31% was allocated via premined rewards and airdrops, and 15% went to the Rocket Pool team.
Visit CoinStats to check the current price of RPL, its market cap rank in the crypto market, and learn about the price of Rocket Pool today compared to RPL all-time high of $59.
How Does Rocket Pool Work
The Rocket Pool protocol uses smart contracts to power the decentralized network of smart nodes, allowing users to deposit Ethers and earn interest for helping to secure the Ethereum network.
Rocket Pool provides a network that scales and loads balance automatically. Users send the minimum required amount of Ethers for staking, and the network creates minipool contracts, assigning the assets and adding network deposit to it (32 Ethers in total). As Ethereum 1.0 and Ethereum 2.0 are separate chains, Rocket Pool built a system of oracle nodes to validate activities on Ether 2.0 and inform Ether 1.0 about them.
How to Buy Rocket Pool Token
Popular crypto exchanges to buy Rocket Pool tokens are Uniswap v3, Bkex, Hotbit, XT.COM, Hoolgd, Bilaxy, etc.
