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Rocket Pool

RPL
rocket pool, best crypto exchange
€0.000EUR
Figures shown refer to the past. Past performance is not a reliable indicator of future results. Pricing data is provided by CoinJar.
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RPL

Overview

#254Popularity
DeFiAsset type
2021Active since
Official site

What is Rocket Pool?

Buy Rocket Pool (RPL): Rocketpool makes staking convenient and accessible, even if you don't have a lot of crypto.

The Rocket Pool launchpad

is useful for people who want to help out with the Ethereum network and earn some rewards along the way.

Ethereum, like many cryptocurrencies, uses a system called "proof of stake" (PoS) to keep things protected and running smoothly. This involves people "staking" their Ethereum – essentially locking it up for a while – to help validate transactions and create new blocks. In return, they get rewarded with more Ethereum.

The problem is, to stake Ethereum directly, you need to have 32 ETH (a lot of money!) and some technical know-how. That's where Rocket Pool comes in.

How does Rocket Pool work?

Rocket Pool makes it convenient for anyone to participate in Ethereum staking, even if you don't have 32 ETH or aren't tech-savvy. Here's how:

Minipools

Think of these as little groups where people pool their Ethereum together. You only need 16 ETH to join a minipool. Rocket Pool finds someone else with 16 ETH and pairs you up.

Node operators

These are the tech experts. They run the computer servers that help keep Ethereum running, using the Ethereum from the minipools.

Rewards

The node operators earn rewards for their work, and they share a portion of those rewards with everyone in the minipool. It's a win-win!

RPL token

RPL is the special token that powers Rocket Pool. It's used for:

Governance

RPL holders get to vote on how Rocket Pool is run.

Insurance

Node operators need to hold RPL as a kind of “security deposit”, ensuring they act responsibly.

Rewards

Node operators earn extra RPL for their contributions.

Why buy RPL?

People buy RPL for a few reasons.

Belief in Rocket Pool

They think Rocket Pool will become more popular as Ethereum staking grows.

Potential for price increase

As demand for RPL grows, so could its price. Note that other factors can affect RPL's price, such as market conditions, competition, and broader economic factors.

Active participation

They want to be part of Rocket Pool's community and have a say in its future.

Ready for takeoff

Rocket Pool aims to make Ethereum staking accessible to everyone.

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How to buy Rocket Pool with CoinJar

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Frequently asked questions

What are the staking rewards for participating in Rocket Pool?

Staking rewards are the Ethereum (ETH) you earn for helping to protect the Rocket Pool network. As a node operator or by contributing to a staking pool, you receive a portion of the ETH rewards generated by your minipool. The exact amount depends on various factors, including the network's overall staking yield and the RPL exchange rate.

You don't need a crypto wallet to start buying RPL, you can keep it in your CoinJar account.

How do I join a Rocket Pool staking pool?

You don't need to actively join a specific pool. Rocket Pool automatically matches users who want to stake ETH with node operators who run smart nodes. If you have 16 ETH, you'll be matched with another user, and your combined 32 ETH will be used to run a minipool.

What are RPL tokens used for?

RPL tokens are the native tokens of the Rocket Pool network. They have several uses.

Governance: RPL holders can vote on proposals that affect the Rocket Pool protocol.

Insurance: Node operators must stake RPL as insurance to ensure the network's protection.

Rewards: Node operators earn additional RPL rewards for their contributions.

What is Rocket Pool RPL, and why are people buying it?

Rocket Pool RPL is the ticker symbol for the Rocket Pool token. People buy it for various reasons.

Belief in the project: They see the value Rocket Pool brings to Ethereum staking and expect the network to grow.

Potential for price appreciation: If the demand for RPL increases and the supply remains limited, the RPL exchange rate could rise.

Active participation: They want to be part of the Rocket Pool community and influence its future through governance.

How is the Rocket Pool network protected?

The Rocket Pool network is secured through a decentralized network of node operators who run node software on their computers.

These node operators stake ETH and RPL to ensure they act honestly and in the network's best interest. The more ETH staked on the network, the more secure it becomes.

What is liquid staking, and how does Rocket Pool offer it?

Liquid staking lets you stake your ETH while still having access to its liquidity. When you deposit ETH into Rocket Pool, you receive rETH tokens in return.

These rETH tokens represent your share of the staking pool and can be traded or used in other DeFi applications.

What is the difference between Ethereum staking and Rocket Pool staking?

Ethereum staking traditionally requires 32 ETH to run your own node.

Rocket Pool allows users to stake with as little as 16 ETH by pooling their funds with others. This makes Ethereum staking more accessible and decentralised.

Who is David Rugendyke, and what is his role in Rocket Pool?

David Rugendyke is the founder of Rocket Pool. He is a prominent figure in the Ethereum community and a vocal advocate for decentralized staking solutions.

Why do node operators need 16 ETH?

Each minipool on Rocket Pool requires 32 ETH to function. Node operators are responsible for half of that amount (16 ETH). The other 16 ETH comes from users who want to stake.

How does Rocket Pool allow users to stake ETH without running their own nodes?

Rocket Pool matches users who want to stake with node operators who run nodes. Users deposit their ETH, and node operators use it to run minipools on their behalf.

What is the total supply of RPL?

The total supply of RPL is capped at 18 million tokens.

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