Stock Groups

ETH 2.0 Staking Protocol ‘Rocket Pool’ Hits $360 Million TVL Within Five Weeks -Breaking

by Mike Robinson

[ad_1]

ETH 2.0 Staking Protocol ‘Rocket Pool’ Hits $360 Million TVL Within Five Weeks

Since embraced staking, more options have become available through which investors are able to lock their ETH to earn rewards – one of such platform is ‘Rocket Pool (NASDAQ:).’

Rocket Pool claims to be a new-generation, decentralized ETH2.0 staking pool protocol. Rocket Pool lets investors deposit as low as 0.01 ETH to receive liquid rETH staking tokens with a 6.36% APR.

Rocket Pool Proves to Be a $360,000,000 TVL Winner in Five Weeks
Rocket Pool is the Ethereum 2.0 Staking Pool that has been truly decentralized. It also boasts a remarkable project of being the first to achieve a true Ethereum 2.0 staking pool. Rocket Pool achieved a TVL of over $320 Million in just five weeks.

Rocket Pool delayed its launch date due to security vulnerabilities in its network. It finally went live on November 9, and five weeks later its TVL was already over $325 million. This makes it one of most popular dApps.

Rocket Pool currently has 368.39 millions in TVL. It is the third-largest Ethereum2.0 staking pool according to DefiLama. Rocket Pool is also ranked as the second-largest decentralized application.

Rocket Pool now trails Keep3r Network, October 2020 at $592.34million and Lido Finance (December2020), in the first place with $6.19billion. Rocket Pool says it has 635 node operator.

Speaking on the growth of Rocket Pool, Darren Langley, the project’s general manager, stated, “in the staking market, there was significant latent demand for a decentralized option — it just needed our launch to spark an inferno.”

The Flipside

  • Finance has a vulnerability Lido Finance also reported this issue, which may have an impact on more ETH 2.0 staking protocol.

What You Need to Care About

Following Ethereum’s upcoming transition in mid-2022, Langley believes that liquid staking could become more profitable, therefore increasing interest and adoption.

EMAIL NEWSLETTER

You can also join the crypto-verse

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
With just one click, you can unsubscribe at any time.

Continue reading on DailyCoin

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]