Rocket Pool’s Ethereum staking service reaches $1B in TVL

Based on information from DefiLlama, staking service Rocket Pool (NASDAQ:) reached $1 billion in complete worth locked (TVL) on Feb. 9. The transfer comes lower than two years after the decentralized finance (DeFi) protocol launched its mainnet on Nov. 9, 2021. Dubbed a liquid staking resolution for Ethereum, Rocket Pool permits customers to affix an Ethereum decentralized node operator or run their very own node.

In contrast to typical staking options, the capital necessities are far much less, as customers can run their very own node with simply 16 Ether (ETH) versus the community specified 32 ETH, with one other 16 ETH coming from a pool of customers who be a part of a decentralized node operator. For the latter, the deposit requirement is simply 0.01 ETH. Depositors obtain liquid staking token rETH in change for his or her ETH, which proves the consumer is entitled to staking rewards over time and accrues yield.

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