chain: News of Rocket Pool (RPL) - June 2024 Price Update - 7.08% Breakout Crypto News and Analysis
Explore the Core.
Rocket Pool (RPL) is a decentralized Ethereum staking protocol that allows users to earn high returns on their Ethereum holdings by participating in staking. It operates through two decentralized autonomous organizations (DAOs): the Protocol DAO and the Oracle DAO. The Protocol DAO manages settings such as RPL inflation, rewards, and staking requirements, while the Oracle DAO acts as a bridge between the smart contracts on the Beacon Chain and the ETH1 main chain. The governance of the protocol is divided between the two DAOs. The Protocol DAO manages settings such as RPL inflation, rewards, and staking requirements, while the Oracle DAO acts as a bridge between the smart contracts on the Beacon Chain and the ETH1 main chain. Rocket Pool offers liquid staking, which allows users to benefit from an increasing exchange rate without incurring taxes. Additionally, it offers smart nodes, which are custom node software that minimizes risk by socializing losses across the network. The platform allows users to join the platform’s decentralized node operator network or run their own nodes. By providing RPL collateral, users can earn a commission from staking ETH and additional RPL rewards.
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Spot the Main Event:
They announced next major upgrade “Houston” which has been under development for the last 9 months will be going live in just a week on the 17th June. The Houston upgrade is largely aimed at removing reliance on 3rd party systems by introducing a fully on-chain DAO to govern the protocol, known as the Protocol DAO or pDAO, to be responsible for shaping the direction of the protocol. The pDAO is run by RPL governance. Its members and their voting power are made up of node operators, big and small, all of which are directly participating in the protocol and as such, invested in its success.
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