What Is RocketPool (RPL)?

RocketPool (RPL)is a decentralized ETH staking protocol run by the community.The purpose of the asset is to provide a better understanding of Rocket Pool to all Ethereum users. The team also caters to all facets of collective ownership as a community-owned staking process. It involves ETH bulls staking rETH to smart contract DApps, wallet providers, DEXs, or staking node operators. The platform is the basic layer protocol for decentralized and ETH staking. Also, this asset seeks to embody the Ethereum and DeFi core ethos, particularly the noncustodial nature that enables true self-sovereignty to flourish.

The currency was designed with the intention of enabling users to stake ETH toward a network of decentralized node operators that has complete autonomy backed by RPL collateral. The Rocket Pool was created to help the providers, wherein ETH staked through SaaS solutions that may be used through the asset instead of having to create custom staking solutions for each client. RPL is the native token of the platform. The ticker symbol used for the token is RPL.

The currency is the first Ethereum staking pool that is fully decentralized. The platform is intended for two types of users: the users who wish to engage in tokenized staking with rETH and the users who wish to stake ETH and run a node. Rocket Pool nodes only need to deposit 16 ETH per validator, unlike single stakers who should deposit 32 ETH to create a new validator. To construct a new ETH2 validator, this network gets combined with 16 ETH from the staking pool (which stakers put in exchange for rETH). A minipool is the name given to this new validator.

History of RocketPool (RPL)

David Rugendyke is the founder and chief technology officer. Rugendyke began building Rocket Pool in late 2016 after 18 years of commercial experience as a senior developer with a computer science degree. He is currently working full-time as the chief technology officer of Rocket Pool. Darren Langley is the general manager of RocketPool. The currency has a total supply of 17,922,515RPLtokens.