Rocket Pool Hits $1 Billion TVL – RPL Price Sees Mild Surge
The staking platform Rocket Pool on Ethereum has reached a major milestone of $1 billion in total value locked (TVL) in less than two years since its launch.
According to data from DeFiLlama, the Rocket Pool (RPL) Ethereum staking protocol officially achieved a TVL of $1 billion on February 9th.
Launched in November 2021, the DeFi protocol positions itself as a staking solution for the Ethereum blockchain, allowing users to either operate a node within Ethereum’s decentralized network or launch their own node.
In exchange for validating on-chain transactions, participants running Rocket Pool nodes can earn up to 7.26%, while depositors (stakers) in the protocol receive an annual yield of 4.68%. Note that these rates can fluctuate based on node supply and demand, as well as Ethereum transaction volumes.
Currently, Rocket Pool has 385,344 ETH staked and 2,068 nodes operational. Rocket Pool’s smart contracts have been audited by Sigma Prime, ConsenSys, and Trail of Bits. The project also runs a bug bounty program supported by Immunefi.
The latest report from DappRadar shows a significant recovery in the DeFi sector over the past month, with the total TVL for the industry at $74.6 billion.
The RPL price has quickly responded to this milestone, seeing a 15% increase in the past 24 hours, despite the broader market being “in the red” following news of increased regulatory scrutiny on crypto assets in the US.
