Rocket Pool, a decentralized staking platform from Ethereum 2.0, reached a Total Locked Value (TVL) of $ 380 million within 5 weeks of its official launch.

The project aims to remove barriers to access for Eth2 stackers and node operators. It allows any user to run a node at 16 ETH ($ 59,000), half of the 32 ETH ($ 119,000) claimed in the Eth2 deposit contract. Users with at least 0.01 ETH can also wager their coins and make profits.

According to data from DefiLlama, Rocket Pool became the third largest DeFi platform with a TVL of $ 380 million, followed by Keep3r Network with $ 584.34 million and Lido Finance in first place with $ 6.04 billion la.

Lido Finance was launched in December 2020 and is currently outperforming its competitors in terms of TVL. However, in the fourth quarter of 2021 there are only 14 node operators.

Rocket Pool now has around 635 node operators, who probably contribute most to the decentralization of Ethereum. Around 67,000 ETH worth over 252 million US dollars are staked, the rest in TVL comes from the platform’s own RPL token.

Mark out
TVL: 94.1k (???? + 1.5%) – $ 345.4 million
Staking Pool: Ξ1.48k
rETH price: Ξ1.0096 (4.3% APY)
Average commission: 12.24%

️ knot
Registered Nodes: 634
Stake out mini pools: 2.07 k
ETH validator share: 0.75%
Commission: 15.51%
RPL price: 0.0112
RPL staked: 2.37 million (effective 2.30 million) pic.twitter.com/SjYbQXr1rY

– Rocket Pool Network Bot (@RocketPoolBot) December 30, 2021

The project officially started on November 22nd after a successful beta start with 237 node operators who registered to participate in 42 locations around the world, with 1,088 ETH staked two weeks beforehand.

Rocket Pool views decentralization, liquidity staking pools, commissions and staking rewards as key factors. It also allows users to stake their ETH and receive rETH tokens based on their holdings, which also accrues stake rewards over time.

Darren Langley, general manager of Rocket Pool believes decentralization is the main reason for the platform’s strong launch.

“In the staking market, there is a significant underlying demand for a decentralized option – it only takes our launch to cause an explosion.”

“For those who respect the principles of Ethereum, you will be investing with a decentralized pool. From an Ethereum perspective, a decentralized pool is as secure as staking alone. Decentralization is extremely important. “

When asked how Rocket Pool is preparing for the long-awaited transition to Eth2 and the expected Proof-of-Stake (PoS) consensus mechanism in mid-2022, Langley said it will give users more options.

“Liquidity staking will increase in value after the merger, so we expect interest rates to rise. The validator receives the priority fees that PoW miners currently receive. “

With a view to 2022, Langley also hopes to increase the acceptance of his ETH token and expand the services on the platform.

“We want rETH to be ubiquitous in the Ethereum ecosystem, so we focus on integrating DeFi (AMM, lending, wallet, farming). In addition, we will be working on using Layer-2 to optimize aspects of Rocket Pool. “

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