Rocket Pool (RPL)
A Decentralized ETH Liquid Staking Derivative Provider.- Rocket Pool is a decentralized ETH Liquid Staking Derivative (LSD) provider.
- RPL is the native token of the project. The current use cases for RPL include:
- Node operation: Node operators need to stake 10% of the validator’s ETH value in RPL.
- Governance: RPL is required for on-chain governance for the protocol.
- The project consists of the following major components working in conjunction:
- Minipool: Rocket Pool nodes only need to deposit 16 ETH per validator. This will be coupled with 16 ETH from the staking pool to create a new Ethereum validator, which is called a minipool.
- rETH: Users can stake ETH to receive rETH. rETH is a non-rebase token, so the amount of ETH backing rETH will increase over time through the staking rewards.
- Decentralization: All of the creation, withdrawing, and rewards delegation is handled by Rocket Pool's smart contracts on the Execution layer. This makes it completely decentralized.
- As at January 18th 2023, the total token supply of RPL is 18,970,871. The current circulating supply is 10,279,742 (~54.19% of total supply).