Difference between revisions of "Rocket Pool (RPL)"
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==Basics == | ==Basics == | ||
* Founded in: 2016 | * Founded in: 2016 | ||
*Prater Testnet [https://medium.com/rocket-pool/rocket-pool-prater-testnet-guides-2428ecdc565e live] (3-8-2021). | *Prater [[Testnet]] [https://medium.com/rocket-pool/rocket-pool-prater-testnet-guides-2428ecdc565e live] (3-8-2021). | ||
* [[Mainnet]] release: plans for [https://medium.com/rocket-pool/rocket-pool-staking-protocol-part-4-2635c44e4f7e 6-10-2021]. Launch got [https://twitter.com/Rocket_Pool/status/1445536222881857545 delayed] to address vulnerability (6-10-2021). Went live [https://twitter.com/Rocket_Pool/status/1457893042367582209?s=20 9-11-2021]. | * [[Mainnet]] release: plans for [https://medium.com/rocket-pool/rocket-pool-staking-protocol-part-4-2635c44e4f7e 6-10-2021]. Launch got [https://twitter.com/Rocket_Pool/status/1445536222881857545 delayed] to address vulnerability (6-10-2021). Went live [https://twitter.com/Rocket_Pool/status/1457893042367582209?s=20 9-11-2021]. | ||
* Based in: [https://cointelegraph.com/news/eth2-withdrawals-are-coming-sooner-than-you-think Australia] | * Based in: [https://cointelegraph.com/news/eth2-withdrawals-are-coming-sooner-than-you-think Australia] | ||
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* Rocket Pool is a [[decentralized]] network of [[node]] operators. Your deposit will be allocated to a node operator who will perform [[Proof of Stake]] duties. | * Rocket Pool is a [[decentralized]] network of [[node]] operators. Your deposit will be allocated to a node operator who will perform [[Proof of Stake]] duties. | ||
* From [https://mirror.chorus.one/liquid-staking-report.pdf this report] by [[Chorus One]] (6-2020): | * From [https://mirror.chorus.one/liquid-staking-report.pdf this report] by [[Chorus One]] (6-2020): | ||
"''Rocket Pool is an Ethereum-based project that has been developing a staking pool/delegation system in preparation for Ethereum’s move to Proof-of-Stake since 2016. During this time, the design and specification of Ethereum’s staking protocol has changed frequently and Rocket Pool has constantly adapted their protocol to those changes. Recently the project overhauled its own design substantially and switched to a liquid staking model that seeks to tokenize Ether stake delegated to the project’s staking pool."'' | "''Rocket Pool is an Ethereum-based project that has been developing a staking pool/delegation system in preparation for Ethereum’s [[move]] to Proof-of-[[Stake]] since 2016. During this time, the design and specification of Ethereum’s staking protocol has changed frequently and Rocket Pool has constantly adapted their protocol to those changes. Recently the project overhauled its own design substantially and switched to a liquid staking model that seeks to tokenize [[Ether]] stake delegated to the project’s staking pool."'' | ||
== History == | == History == | ||
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*Is vulnerable to an exploit in [[Ethereum]]. [https://news.bitcoin.com/over-1-billion-in-ethereum-based-tokens-vulnerable-to-fake-deposit-exploit/ From] [[Bitcoin.com]] (27-8-2020): | *Is vulnerable to an exploit in [[Ethereum]]. [https://news.bitcoin.com/over-1-billion-in-ethereum-based-tokens-vulnerable-to-fake-deposit-exploit/ From] [[Bitcoin.com]] (27-8-2020): | ||
"''ERC20s who are allegedly vulnerable to the fake deposit exploit include [[BRC]] token, [[PWR Coin (PWR)|PWR]] token, [[BAT]], [[Huobi Token (HT)|HPT]] token, [[Cloudbric (CLB)|Cloudbric]], RPL token, [[Moviecredits]], and more."'' | "''ERC20s who are allegedly vulnerable to the fake deposit exploit include [[BRC]] [[token]], [[PWR Coin (PWR)|PWR]] token, [[BAT]], [[Huobi Token (HT)|HPT]] token, [[Cloudbric (CLB)|Cloudbric]], RPL token, [[Moviecredits]], and more."'' | ||
== Governance == | == Governance == | ||
* From [https://mirror.chorus.one/liquid-staking-report.pdf this report] by [[Chorus One]] (6-2020): | * From [https://mirror.chorus.one/liquid-staking-report.pdf this report] by [[Chorus One]] (6-2020): | ||
"''Since [[smart contracts]] on the sharded [[Ethereum]] [[PoS]] network are only enabled in phase 2 of the rollout, stake contributed to Rocket Pool and rewards earned before that cannot be withdrawn. These limitations in the first two phases of the PoS rollout also mean that withdrawal [[addresses]] on the beacon chain cannot be controlled by smart contracts. Because of this, Rocket Pool will be a trusted solution at launch. Rocket Pool and their investors will custody the [[Admin Key|keys]] associated with these withdrawal addresses. This means they will be in control of all deposits and associated rewards that will accrue on Ethereum’s beacon chain when the PoS migration begins. Currently, there are few details available on how exactly transforming rETH and nETH to ETH will work and how the dynamic unbonding periods of Ethereum 2.0 will be taken into account."'' | "''Since [[smart contracts]] on the [[sharded]] [[Ethereum]] [[PoS]] network are only enabled in phase 2 of the rollout, stake contributed to Rocket Pool and rewards earned before that cannot be withdrawn. These limitations in the first two phases of the PoS rollout also mean that withdrawal [[addresses]] on the beacon chain cannot be controlled by smart [[contracts]]. Because of this, Rocket Pool will be a trusted solution at launch. Rocket Pool and their investors will custody the [[Admin Key|keys]] associated with these withdrawal addresses. This means they will be in control of all deposits and associated rewards that will accrue on Ethereum’s beacon chain when the PoS migration begins. Currently, there are few details available on how exactly transforming rETH and nETH to ETH will work and how the dynamic unbonding periods of Ethereum 2.0 will be taken into account."'' | ||
=== DAO === | === DAO === | ||
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*[https://www.rocketpool.net/files/RocketPoolWhitePaper.pdf From] their [[whitepaper]] (29-5-2020): | *[https://www.rocketpool.net/files/RocketPoolWhitePaper.pdf From] their [[whitepaper]] (29-5-2020): | ||
"''A Rocket Pool [[DAO]] will be formed in the future to allow RPL stakers the ability to participate in a Decentralised Autonomous Organisation which will be used to help govern important aspects of the decentralised network from smart contract upgrades to more minor changes in settings across the network."'' | "''A Rocket Pool [[DAO]] will be formed in the future to allow RPL [[stakers]] the ability to participate in a [[Decentralised]] Autonomous Organisation which will be used to help govern important aspects of the decentralised network from smart [[contract]] upgrades to more minor changes in settings across the network."'' | ||
=== Treasury === | === Treasury === | ||
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=== Token allocation === | === Token allocation === | ||
* [https://etherscan.io/token/0xb4efd85c19999d84251304bda99e90b92300bd93#balances It seems like] (21-7-2020) the team owns less than 49% of the tokens, but you can’t find a clear distribution. | * [https://etherscan.io/token/0xb4efd85c19999d84251304bda99e90b92300bd93#balances It seems like] (21-7-2020) the team owns less than 49% of the [[tokens]], but you can’t find a clear distribution. | ||
=== Utility === | === Utility === | ||
* RPL gives more rewards when staked in a RocketPool node. It is not required to stake. In the future also governing rights. Got changed [https://medium.com/rocket-pool/rocket-pool-staking-protocol-part-3-3029afb57d4c again], and now nodes must bond RPL and earn rewards, or get slashed if doing wrong (13-4-2021): | * RPL gives more rewards when [[staked]] in a RocketPool node. It is not required to stake. In the future also governing rights. Got changed [https://medium.com/rocket-pool/rocket-pool-staking-protocol-part-3-3029afb57d4c again], and now [[nodes]] must bond RPL and [[earn]] rewards, or get [[slashed]] if doing wrong (13-4-2021): | ||
''"RPL mechanics are used in multiple key places to drive the protocol:'' | ''"RPL mechanics are used in multiple key places to drive the protocol:'' | ||
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# ''rETH value protection with node operators staking RPL as insurance.'' | # ''rETH value protection with node operators staking RPL as insurance.'' | ||
# ''[[Oracle]] DAO member good behaviour bonds.'' | # ''[[Oracle]] DAO member good behaviour bonds.'' | ||
# ''Protocol DAO Governance."'' | # ''Protocol DAO [[Governance]]."'' | ||
=== Token Details === | === Token Details === | ||
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"''This token does not need to be locked within the network to gain rewards and it can be traded, sold or held as the user desires, all from the moment they deposit [[ETH]] for staking. This token can instantly be used in [[DeFi]] apps and allows [[DEX|DEXs]], [[wallets]] the ability to offer instant staking services.'' | "''This token does not need to be locked within the network to gain rewards and it can be traded, sold or held as the user desires, all from the moment they deposit [[ETH]] for staking. This token can instantly be used in [[DeFi]] apps and allows [[DEX|DEXs]], [[wallets]] the ability to offer instant staking services.'' | ||
''Importantly, this token also provides Rocket Pool users with liquidity over Phases 0 and 1 of the ETH2 rollout, in which any staking deposit is locked. When smart contracts are natively enabled on ETH2 during Phase 2, a [[smart contract]] will be deployed that will allow users with the rETH token to [[burn]] it for ETH.'' | ''Importantly, this token also provides Rocket Pool users with [[liquidity]] over Phases 0 and 1 of the ETH2 rollout, in which any staking deposit is locked. When smart contracts are natively enabled on ETH2 during Phase 2, a [[smart contract]] will be deployed that will allow users with the rETH token to [[burn]] it for ETH.'' | ||
''nETH & rETH'' | ''nETH & rETH'' | ||
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''"In Rocket Pool, at least half of the stake in the system needs to be contributed by node operators forcing them to have skin-in-the-game. The protocol is using a three token model at launch: '' | ''"In Rocket Pool, at least half of the stake in the system needs to be contributed by node operators forcing them to have skin-in-the-game. The protocol is using a three token model at launch: '' | ||
''rETH: Tokenized Ether staked with Rocket Pool nodes. This [[fungible]] liquid staking token is a claim on staking deposits and rewards after commissions minus penalties in excess of what is covered by node operators. '' | ''rETH: [[Tokenized]] Ether staked with Rocket Pool nodes. This [[fungible]] liquid staking token is a claim on staking deposits and rewards after commissions minus penalties in excess of what is covered by node operators. '' | ||
''nETH: Node operators receive this token when they withdraw from the network before smart contracts are enabled on Ethereum’s PoS network. It is a claim on their own deposited stake and rewards, as well as commissions earned for running a Rocket Pool node. '' | ''nETH: Node operators receive this token when they withdraw from the network before smart contracts are enabled on Ethereum’s PoS network. It is a claim on their own deposited stake and rewards, as well as commissions earned for running a Rocket Pool node. '' | ||
''RPL: The project’s native token that is used to incentivize high uptime and to discourage incurring penalties for node operators. Staking RPL enables node operators to receive a higher share of protocol commissions, but also puts their RPL at risk in the case of slashings. If a node operator incurs a penalty, his staked RPL will be burned proportionally. RPL will in the future also be used to govern parameters of the protocol."'' | ''RPL: The project’s [[native token]] that is used to incentivize high uptime and to discourage incurring penalties for node operators. Staking RPL enables node operators to receive a higher share of protocol commissions, but also puts their RPL at risk in the [[case]] of slashings. If a node operator incurs a penalty, his staked RPL will be burned proportionally. RPL will in the future also be used to govern parameters of the protocol."'' | ||
=== RPL Tokenomics changes in Beta 2.5 === | === RPL Tokenomics changes in Beta 2.5 === | ||
* From their [https://medium.com/rocket-pool/rocket-pool-2-5-tokenised-staking-48601d52d924 blog] (29-5-2020): | * From their [https://medium.com/rocket-pool/rocket-pool-2-5-tokenised-staking-48601d52d924 blog] (29-5-2020): | ||
''"We realised one of the drawbacks for 2.0 was the need for RPL to even run a single minipool validator on your node. This was a barrier to entry and we are all about knocking those down at Rocket Pool HQ. RPL will now not be needed to run a [[node]] in Rocket Pool. Under 2.5 you will be able to stake RPL on your node as an additional security and uptime promise. Users that choose to stake RPL be rewarded with an additional reward proportional to the extra security they are providing. Failure to provide this additional security when staking RPL will result in your RPL being [[burned]] proportionally to the size of your penalty or [[slashing]] event.'' | ''"We realised one of the drawbacks for 2.0 was the need for RPL to even run a single minipool [[validator]] on your node. This was a barrier to entry and we are all about knocking those down at Rocket Pool HQ. RPL will now not be needed to run a [[node]] in Rocket Pool. Under 2.5 you will be able to stake RPL on your node as an additional security and uptime promise. Users that choose to stake RPL be rewarded with an additional reward proportional to the extra security they are providing. Failure to provide this additional security when staking RPL will result in your RPL being [[burned]] proportionally to the size of your penalty or [[slashing]] event.'' | ||
''But wait, where does this extra reward come from? In short, from us. Previously we had a commission on all rewards earned on the network. We will now be giving that to users that provide extra security and uptime by staking RPL."'' | ''But wait, where does this extra reward come from? In short, from us. Previously we had a commission on all rewards earned on the network. We will now be giving that to users that provide extra security and uptime by staking RPL."'' | ||
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=== Staking === | === Staking === | ||
* Staking while running a [[node]] on RocketPool gives ETH2.0 staking rewards, plus extra rewards by charging Rocket Pool users a set percentage of the rewards earned on your node. | * Staking while running a [[node]] on RocketPool gives ETH2.0 [[staking rewards]], plus extra rewards by charging Rocket Pool users a set percentage of the rewards earned on your node. | ||
* From their [https://medium.com/rocket-pool/rocket-pool-2-5-tokenised-staking-48601d52d924 blog] (29-5-2020): | * From their [https://medium.com/rocket-pool/rocket-pool-2-5-tokenised-staking-48601d52d924 blog] (29-5-2020): | ||
"''When a user deposits into the Rocket Pool network, they will instantly receive the rETH token which represents a tokenised [[staking]] deposit and the rewards it gains over time in the Rocket Pool network."'' | "''When a user deposits into the Rocket Pool network, they will instantly receive the rETH token which represents a tokenised [[staking]] deposit and the rewards it gains over time in the Rocket Pool network."'' | ||
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''"In a blog post today it [https://medium.com/rocket-pool/rocket-pool-eth2-our-vision-e367d366d01e indicated] the platform is waiting for [[smart contract]] withdrawals to be enabled before it can go live."'' | ''"In a blog post today it [https://medium.com/rocket-pool/rocket-pool-eth2-our-vision-e367d366d01e indicated] the platform is waiting for [[smart contract]] withdrawals to be enabled before it can go live."'' | ||
== Usage == | == Usage == | ||
* Rocket Pool now runs [https://twitter.com/Rocket_Pool/status/1495571529819901954 1%] of [[Ethereum (ETH)|Ethereum]] [[validators]] (26-2-2022). | |||
=== Projects that use or built on it === | === Projects that use or built on it === | ||
== Competition == | == Competition == | ||
* [[StaFi Protocol (FIS)|StaFi]] is also working on liquid staking. | * [[StaFi Protocol (FIS)|StaFi]] is also working on liquid staking. | ||
*ETH 2.0 staking solutions has grown a lot in 2020. A review of all options. can be read [https://cryptotesters.com/blog/staking-pools here] (7-1-2021). | *ETH 2.0 staking solutions has grown a lot in 2020. A review of all [[options]]. can be read [https://cryptotesters.com/blog/staking-pools here] (7-1-2021). | ||
== Pros and Cons == | == Pros and Cons == | ||
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=== Cons === | === Cons === | ||
* From [https://mirror.chorus.one/liquid-staking-report.pdf this report] by Chorus One (6-2020): | * From [https://mirror.chorus.one/liquid-staking-report.pdf this report] by [[Chorus]] One (6-2020): | ||
# "''Keys that will control funds on Ethereum’s beacon chain will be custodially controlled at launch, so this is a trusted/custodial solution until smart contracts are enabled (ETH2 phase 2). '' | # "''Keys that will control funds on Ethereum’s beacon chain will be custodially controlled at launch, so this is a trusted/custodial solution until smart contracts are enabled (ETH2 phase 2). '' | ||
# ''High requirements for stake contributed by node operators may prove to be a limitation of this solution.'' | # ''High requirements for stake contributed by node operators may prove to be a limitation of this solution.'' | ||
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Making these free wiki pages is fun but takes a lot of effort and time. | Making these free wiki pages is fun but takes a lot of effort and time. | ||
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information. | If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information. | ||
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | ||
[[Category:Coins/Tokens]] | [[Category:Coins/Tokens]] |
Revision as of 04:05, 11 March 2022
Basics
- Founded in: 2016
- Prater Testnet live (3-8-2021).
- Mainnet release: plans for 6-10-2021. Launch got delayed to address vulnerability (6-10-2021). Went live 9-11-2021.
- Based in: Australia
- Ethereum Tokenised Staking Deposits
- Rocket Pool is a decentralized network of node operators. Your deposit will be allocated to a node operator who will perform Proof of Stake duties.
- From this report by Chorus One (6-2020):
"Rocket Pool is an Ethereum-based project that has been developing a staking pool/delegation system in preparation for Ethereum’s move to Proof-of-Stake since 2016. During this time, the design and specification of Ethereum’s staking protocol has changed frequently and Rocket Pool has constantly adapted their protocol to those changes. Recently the project overhauled its own design substantially and switched to a liquid staking model that seeks to tokenize Ether stake delegated to the project’s staking pool."
History
- From their website (21-7-2020):
"Rocket Pool was originally designed in late 2016 using the Mauve Paper which was released by Vitalik."
Audits & Exploits
- Bug bounty program can be found [insert here].
- No audits have been done so far (21-7-2020).
Bugs/Exploits
"Yesterday our bug bounty program helped discover an exploit that also affected other staking providers, as a result we are postponing launch to implement a fix. Fix preparation is underway, the changes required are relatively minimal. We will have more information on the adjusted launch date soon."
- From Week in Ethereum (5-10-2021):
"Staking pool vulnerability impacting Lido and Rocket Pool, deposit can be frontrun putting funds at risk, flagged by StakeWise, raised in Eth Research in late 2019."
- Is vulnerable to an exploit in Ethereum. From Bitcoin.com (27-8-2020):
"ERC20s who are allegedly vulnerable to the fake deposit exploit include BRC token, PWR token, BAT, HPT token, Cloudbric, RPL token, Moviecredits, and more."
Governance
- From this report by Chorus One (6-2020):
"Since smart contracts on the sharded Ethereum PoS network are only enabled in phase 2 of the rollout, stake contributed to Rocket Pool and rewards earned before that cannot be withdrawn. These limitations in the first two phases of the PoS rollout also mean that withdrawal addresses on the beacon chain cannot be controlled by smart contracts. Because of this, Rocket Pool will be a trusted solution at launch. Rocket Pool and their investors will custody the keys associated with these withdrawal addresses. This means they will be in control of all deposits and associated rewards that will accrue on Ethereum’s beacon chain when the PoS migration begins. Currently, there are few details available on how exactly transforming rETH and nETH to ETH will work and how the dynamic unbonding periods of Ethereum 2.0 will be taken into account."
DAO
- From their whitepaper (29-5-2020):
"A Rocket Pool DAO will be formed in the future to allow RPL stakers the ability to participate in a Decentralised Autonomous Organisation which will be used to help govern important aspects of the decentralised network from smart contract upgrades to more minor changes in settings across the network."
Treasury
Token
Launch
Token allocation
- It seems like (21-7-2020) the team owns less than 49% of the tokens, but you can’t find a clear distribution.
Utility
- RPL gives more rewards when staked in a RocketPool node. It is not required to stake. In the future also governing rights. Got changed again, and now nodes must bond RPL and earn rewards, or get slashed if doing wrong (13-4-2021):
"RPL mechanics are used in multiple key places to drive the protocol:
- rETH value protection with node operators staking RPL as insurance.
- Oracle DAO member good behaviour bonds.
- Protocol DAO Governance."
Token Details
- From their blog (29-5-2020):
"This token does not need to be locked within the network to gain rewards and it can be traded, sold or held as the user desires, all from the moment they deposit ETH for staking. This token can instantly be used in DeFi apps and allows DEXs, wallets the ability to offer instant staking services.
Importantly, this token also provides Rocket Pool users with liquidity over Phases 0 and 1 of the ETH2 rollout, in which any staking deposit is locked. When smart contracts are natively enabled on ETH2 during Phase 2, a smart contract will be deployed that will allow users with the rETH token to burn it for ETH.
nETH & rETH
For Phases 0 and 1 of the ETH2 rollout, if you run a node in Rocket Pool and withdraw from the network, you will receive the nETH token, which represents your deposit, rewards + commissions earned in the network for the time you participated, and is backed by ETH 1:1. This is not the same as rETH, which represents tokenised staking deposits + rewards earned by the whole network, and has a variable exchange rate.
This is a temporary token for node operators which will be replaced with actual ETH in Phase 2 of the ETH2 rollout. At this time, node operators will also be able to trade nETH in for actual ETH."
- From this report by Chorus One (6-2020):
"In Rocket Pool, at least half of the stake in the system needs to be contributed by node operators forcing them to have skin-in-the-game. The protocol is using a three token model at launch:
rETH: Tokenized Ether staked with Rocket Pool nodes. This fungible liquid staking token is a claim on staking deposits and rewards after commissions minus penalties in excess of what is covered by node operators.
nETH: Node operators receive this token when they withdraw from the network before smart contracts are enabled on Ethereum’s PoS network. It is a claim on their own deposited stake and rewards, as well as commissions earned for running a Rocket Pool node.
RPL: The project’s native token that is used to incentivize high uptime and to discourage incurring penalties for node operators. Staking RPL enables node operators to receive a higher share of protocol commissions, but also puts their RPL at risk in the case of slashings. If a node operator incurs a penalty, his staked RPL will be burned proportionally. RPL will in the future also be used to govern parameters of the protocol."
RPL Tokenomics changes in Beta 2.5
- From their blog (29-5-2020):
"We realised one of the drawbacks for 2.0 was the need for RPL to even run a single minipool validator on your node. This was a barrier to entry and we are all about knocking those down at Rocket Pool HQ. RPL will now not be needed to run a node in Rocket Pool. Under 2.5 you will be able to stake RPL on your node as an additional security and uptime promise. Users that choose to stake RPL be rewarded with an additional reward proportional to the extra security they are providing. Failure to provide this additional security when staking RPL will result in your RPL being burned proportionally to the size of your penalty or slashing event.
But wait, where does this extra reward come from? In short, from us. Previously we had a commission on all rewards earned on the network. We will now be giving that to users that provide extra security and uptime by staking RPL."
Coin Distribution
Tech
- Whitepaper can be found here (29-5-2020).
- Code can be viewed here (21-7-2020).
- Built on: Ethereum
How it works
Fees
Upgrades
- in beta v1, actually behind schedule (21-7-2020) for beta v2.
Staking
- Staking while running a node on RocketPool gives ETH2.0 staking rewards, plus extra rewards by charging Rocket Pool users a set percentage of the rewards earned on your node.
- From their blog (29-5-2020):
"When a user deposits into the Rocket Pool network, they will instantly receive the rETH token which represents a tokenised staking deposit and the rewards it gains over time in the Rocket Pool network."
Validator Stats
- From their mainnet announcement (9-11-2021):
"In just two hours, 94 nodes across 28 time-zones have registered. Our stage 1 target of 15 minipools has been hit."
Slashing
- From their website (21-7-2020):
"Minimised deposit risk. Any losses that occur from bad nodes for stakers who deposit ETH are socialised across the whole network to minimise impacts on any single user."
- From their blog (29-5-2020):
"Due to the change in network mechanics that v2.5 brings, Rocket Pool can now offer even more safety for user deposits. All losses that are incurred when a node operator finishes staking with < 16 ETH in total are now socialised across the whole network. This means that your deposit cannot be assigned to a “bad node” — all rETH holders share the risk of nodes being slashed or penalised equally. If a node fails, all holders lose a tiny amount of value, rather than one unlucky person losing everything.
Node operators, though, are still accountable for their penalties and will absorb any losses if their validators earn less than 32 ETH. This makes them economically bonded to perform in the same way as previously. As long as a node performs well, it stands to earn extra rewards in the network from commissions charged on deposits and staking rewards. This increases the ROI for node operators over staking solo, where all the same parameters apply."
Different Implementations
Interoperability
Other Details
Oracle Method
Privacy Method
Compliance
Their Other Projects
Roadmap
- Can be found here (21-7-2020).
- From Cointelegraph (2-12-2020):
"In a blog post today it indicated the platform is waiting for smart contract withdrawals to be enabled before it can go live."
Usage
- Rocket Pool now runs 1% of Ethereum validators (26-2-2022).
Projects that use or built on it
Competition
- StaFi is also working on liquid staking.
- ETH 2.0 staking solutions has grown a lot in 2020. A review of all options. can be read here (7-1-2021).
Pros and Cons
Pros
- From this report by Chorus One (6-2020):
- "The team has long experience and developed various iterations specifically for Ethereum’s PoS protocol.
- Built on Ethereum, so rETH has access to DeFi protocols and there are fewer security risks than projects built on less proven chains (of course, the risk of smart contract exploits remain).
- Very simple user experience for non-node operating ETH stakers."
Cons
- From this report by Chorus One (6-2020):
- "Keys that will control funds on Ethereum’s beacon chain will be custodially controlled at launch, so this is a trusted/custodial solution until smart contracts are enabled (ETH2 phase 2).
- High requirements for stake contributed by node operators may prove to be a limitation of this solution.
- Highly specialized and completely focused on Ethereum staking, not a cross-protocol solution."
Team, Funding, Partners
Team
- Full team can be found here (21-7-2020).
- Rocket Pool Pty Ltd.
Funding
- Backed (21-7-2020) by Consensys, Milliwatt and Kryptonite1
Partners
(:
Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.