Rocket Pool (RPL) is a decentralized network facilitating ETH staking for users lacking technical skills or the necessary assets. This platform enhances the staking process by offering a more accessible and streamlined experience.
Launched in 2016 and with its mainnet becoming operational in November 2021, the platform is known for its decentralized node operation model that eases user interaction with the Ethereum blockchain. Integration with decentralized exchanges (DEXs) enables easy wallet connections, allowing users to quickly access staking benefits.
Governance is managed by two decentralized autonomous organizations (DAOs), the Protocol DAO and Oracle DAO, which oversee network upgrades and reward distributions in a community-led manner.
Rocket Pool features a dual token model, with RPL used for governance and rETH representing a liquid staking token. This model supports straightforward staking and contributes to the ecosystem by enabling the exchange of rETH for ETH, thereby improving liquidity and tradability. The protocol includes watchtower nodes, which are essential for ensuring communication between the Beacon Chain and the Ethereum network, stabilizing the rETH/ETH exchange rate, and efficiently processing withdrawals.
Security is a key aspect of Rocket Pool, highlighted by a risk management system to protect against losses from ETH slashing and a mandatory 24-hour staking period to deter malicious activities. The platform's security is further affirmed by audits from leading security firms, enhancing user trust.
