Coinbase Invests in Rocket Pool, Launches RPL-rETH Mini Pool
Rocket Pool, the Ethereum staking platform, has announced on its Discord that Coinbase Ventures is making a direct investment into the DeFi protocol. The announcement also revealed that Coinbase Ventures will be participating in oDAO proposals. Here's the statement from the investment fund:
“We are excited to announce that Coinbase Ventures is strengthening its partnership with Rocket Pool through a direct investment in RPL, as well as participating in proposals within oDAO. Coinbase Ventures also plans to use RPL and ETH to create its own mini pool on Rocket Pool.”
Breaking from the @Rocket_Pool discord – @cbventures has announced an investment in $RPL to run mini pool and support both Ethereum and $rETH holders. pic.twitter.com/HglzLO01LR
— jasperthefriendlyghost.eth | jasper.lens (@Jasper_ETH) February 17, 2023
With this investment, Coinbase will not only enhance its involvement in the staking platform but also secure a significant voting power in oDAO for project decisions. Additionally, the exchange will launch its own pool for the RPL-rETH token pair.
However, the specifics of the investment amount have not yet been disclosed.
Launched in November 2021, Rocket Pool positions itself as a staking solution for Ethereum blockchain, allowing users to either run a node in the decentralized system or deploy their own node.
Rocket Pool recently reached a milestone of $1 billion in Total Value Locked (TVL) in less than two years since its inception.
RPL is currently trading around $50, marking a 10% increase in the past 24 hours.
1-hour chart of RPL/USDT on Binance as of 4:00 PM on February 17, 2023
