Rocket PoolRPL to PKR

What Is Rocket Pool (RPL)?

The Rocket Pool network provides Ethereum 2.0 blockchain validation services through a decentralized node network. This service is designed for users who can't stake Ethereum tokens or possess the technical abilities to run a node and those who don't have the minimum amount of tokens to stake.

The minimum deposit for investors is 32 ETH, but they can stake only 16 ETH. Rocket Pool manages all validators without requiring the user to intervene, and the entire process is automated.
 

Staking Ethereum tokens through Rocket Pool still involves a long-term commitment if investors want to lock up tokens. Once staked, all assets are locked until Phase 2 of Ethereum’s Proof-of-Stake rollout.
 

Although RP can’t override this lockup, it does a fairly good job of balancing the risk with the help of tokenized staking.
 

The rETH token represents your stake and yields every time you take 16 or 32 ETH. The stakers can securely store or sell rETH like any ERC-20 token, although assets remain locked up.

RPL Coin History

It's not rocket science: Rocket Pool has been developing for 4 years and releasing beta versions regularly. A total of 18 million tokens were minted and distributed by RPL in late 2017.

Between April 2020 and April 2021, RPL had a minimal amount of trade volume on exchanges. RPL's trading volumes increased as the protocol crystallized. A few months later, RPL was valued at $0.50. As of March 2021, it was valued at $10. In mid-May, RPL peaked at $23, riding the wave of the general market bubble.

By July, RPL was trading at $8-$9 since the market bubble burst. This one declined less during the burst than many other crypto assets. RPL is also experiencing a steep increase since July, unlike other cryptocurrencies that have yet to fully recover from the bubble burst. It is now trading at $32 after scaling the $30 height. A pre-launch enthusiasm may be responsible for these increases.


 

How does Rocket Pool work?

Using the Ethereum 2.0 network for transaction verification, Rocket Pool works as previously described. ETH investors can begin staking via Rocket Pool by depositing ETH and becoming a node operators. Deposits of only 16 ETH are matched with deposits of another user.

The node performs all standard Ethereum node activities. ETH deposited by users earns a flexible interest rate (APY), which is added to their commission account.
 

Commissions earned by users in Ethereum 2.0 are determined by supply and demand dynamics. ETH deposits are extremely popular when mini pools have limited capacity and a large pool of deposited ETH. Alternatively, if ETH is in short supply, but capacity is abundant, the demand will be low.
 

As soon as the user stakes and creates a mini pool, the node demand and commission rate are calculated. Mini-pools can be created by entering a minimum commission rate before depositing.

How is the RPL token used?

To provide an additional security guarantee to the network, you can stake RPL on a Rocket Pool node. The Rocket Pool network does not require intelligent nodes.
 

Staked RPLs are an additional security deposit provided to the network by node operators with at least one mini-pool validator running. They earn an additional commission proportional to the size of their security deposit. They will lose their RPL security deposit proportionate to the ETH they lose for failing to provide the extra security for their node if they fail to perform their network duties and end up with 32 ETH from their original 32 ETH deposit. 

Who Is Behind Rocket Pool?

David Rugendyke founded Rocket Pool late in 2016. As part of Rocket Pool's development, a broader pool of users would be able to stake their coins on blockchains.
 

Darren Langley recently became the project's General Manager, replacing Rugendyke as the project's CTO. A key developer on the protocol was Langley back in 2018.

Brisbane is the headquarters of Rocket Pool. VC funding was raised in May 2018 in an undisclosed amount. Rocket Pool has only received venture capital funding so far. Blockchain solutions development company ConsenSys Ventures provided the financing.

Why are Rocket Pool tokens valuable?

Its native protocol uses RPL as its primary cryptocurrency. To help keep the project safe, holders can stake the token. Furthermore, the pass offers additional commissions, which also serve as an incentive. As with any crypto token, the RPL also be traded on any exchange platform that supports it, allowing holders to make money.

How is Rocket Pool different from others?

Besides being decentralized, the staking infrastructure on the project makes it unique from other projects. Stakeholders and node operators can earn a profit on the same basis because of it. A completely decentralized network of nodes prevents storage risk as well. The project refers to this technique as "chinking."

Is Rocket Pool investment good?

Having ties to Ethereum makes this project very promising. The only thing you need to do is deposit your digital assets to support ETH 2.0. In addition, the project's team can also work on finding new uses for its RPL tokens to enhance its potential. It's no surprise that experts are divided about the protocol's future, given the volatile nature of the crypto world. Make sure you only invest an amount you are comfortable risking if you want to invest in Rocket Pool.

Rocket Pool (RPL) Token Metrics

Where is the Rocket Pool (RPL) coin available?

Rocket Pool (RPL) is available on a variety of cryptocurrency exchanges. The list of quick, secure, and easy exchanges is listed below.

• Binance
• Kraken
• Huobi
• Gate.io

You can check the whole list of exchanges here to buy Rocket Pool (RPL)