top of page
  • Writer's pictureMichael Paulyn

Rocket Pool, Ethereum Staking Service, Sees New Valuation of Over $1 Billion

As of February 9, and thanks to data released from DefiLlama, Rocket Pool, an Ethereum staking service company, holds a valuation of over $1 billion. The significance of this announcement is that it’s now a little over two years since the introduction of the mainnet for the decentralized finance (DeFi) protocol on November 9, 2021.

Rocket Pool has an industry reputation for being a liquid staking solution for Ethereum, allowing customers to join pre-existing Ethereum decentralized node operators or manage their own. Users can look after their nodes with just 16 Ether (ETH) rather than the network-specified 32 ETH.

As a result, for their ETH, users are rewarded with a liquid staking token called rETH, which is almost like evidence that the user is eligible for staking rewards and gaining a yield.

Currently, the node operating at Rocket Pool can collect up to 7.26% annually in funds for verifying transactions on the Ethereum network, while stakers can collect up to 4.68%.

However, it’s important to remember that these rates are subject to change and can fluctuate depending on the demand and supply of nodes for a given period. There are 2,068 node operators, and 385,344 in Ethereum invested in Rocket Pool.

Hungry for more? Join me each week, where I’ll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.

4 views0 comments


bottom of page