đ What is RPL token? Coinbase Staking Group Invests in Rocket Pool
đ«Rocket Pool is a decentralized ETH proof-of-stake protocol, designed to be community-owned, trustless, and compatible with staking in Ethereum.
âïžRocket Pool caters to two main groups of users: those who want to participate in staking tokenized in rETH with a minimum amount of 0.01 ETH and those who want to stake ETH, running a node in the network to generate higher ROI than staking outside the protocol thanks to attractive commission fees.
âłOn September 9, Binance Futures announced the launch of RPLUSDT Perpetual Contracts with up to 75x leverage, driving the token price higher.
âïžRPL Token Information
âïžToken Name: Rocket Pool
âïžSymbol: RPL
âïžBlockchain: Ethereum
âïžTotal Supply: 20,706,749 RPL
âïžCirculating Supply: 20,706,749 RPL
đŁAllocation
â Project Team: 15%
â Pre-sale: 54%
â ICO: 31%
đ Mechanism and Role of rETH
đ°Rocket Pool ETH (rETH) is the protocol's liquidity staking token. The rETH token represents an amount of ETH that is being staked and earning rewards in Ethereum Proof-of-Stake.
â ïž Essentially, Rocket Pool offers anyone the opportunity to participate in ETH2 staking, regardless of investment capital or technological level. The project enables ETH staking without relying on a decentralized node network that is autonomously operated and backed by collateral from RPL.
đ When depositing ETH into Rocket Pool, users receive Rocket Pool's liquidity staking token rETH, which represents the corresponding claim on ETH in Rocket Pool. The project applies a 0.05% fee when converting ETH to rETH tokens. The conversion rate is calculated according to the corresponding claim on ETH on the protocol.
