Rocket Pool RPL Price $ 21.97

Rocket Pool operates as a decentralized Ethereum Staking platform. The project was founded in 2016 as a Proof-of-Stake Protocol that is owned by the community, is trustless, and can be used with Ethereum 2.0 staking. The protocol has two target audiences: those who want to take part in tokenized staking using rETH, and those that seek a higher ROI when staking ETH and operating a node. It also hopes to reduce the entry barriers required for running Ethereum nodes, including reducing the 32 ETH required for solo staking, and the technical challenges of operating nodes. As such, the protocol allows almost any crypto user to take part in ETH staking.

The RPL token serves as the backbone of the protocol and plays several major roles in the overall operation of the Rocket Pool ecosystem. 

What are Rocket Pool’s key features and how does it work?

In order to use the platform, a user must stake ETH. Users can stake as little as 0.01 ETH. In return, participants receive an equivalent amount rETH. Staking rewards will automatically begin accumulating. Rewards are determined by the total amount staked by the user, as well as the overall performance of the Rocket Pool protocol. Participants can use their collateral to capitalize on the DeFi opportunities available to ETH holders.

What can RPL be used for?

The RPL token is vital to the protocol’s operation. Some of the key uses include:

• Node Operators must deposit a certain amount of RPL to serve as collateral when depositing ETH in the case of malicious or penalty incurring behavior. Node Operators earn rewards in the form of RPL.
• Within the Oracle Node DAO. The Oracle Node DAO comprises oracle nodes, which operate the same as usual nodes but have extra responsibilities. Such responsibilities include reporting validator balances from the beacon chain. They are compensated in RPL for their extra work, however, they must also post an extra RPL bond in order to access the extra benefits.
• Protocol DAO Governance and Treasury. RPL holders will be able to vote on and propose changes to the DAO.

Where can you buy RPL?

RPL is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Uniswap V3, Uniswap V2, and Hoo. The price of RPL will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for RPL market price, please view the price charts on this page.