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What is RPL coin? Learn what RPL coin is in one minute
RPL Coin, a native cryptocurrency of Rocket Pool, enables users to earn rewards and participate in the governance of the decentralized ETH staking protocol.
Oct 08, 2024 at 07:48 am
- Definition:
RPL (Rocket Pool Token) is the native cryptocurrency of Rocket Pool, a decentralized staking protocol for Ethereum (ETH).
- Purpose:
RPL serves two primary functions within the Rocket Pool ecosystem:
- Staking Rewards: Users are required to stake RPL to participate in the network as node operators and earn rewards for validating ETH transactions.
- Collateral: RPL is used as collateral to secure the funds deposited by ETH stakers, ensuring the integrity of the protocol.
- Benefits of Holding RPL:
- Staking Rewards: Node operators can earn ETH staking rewards while also passively accruing RPL rewards.
- Governance Rights: RPL holders have voting power on the direction and development of the Rocket Pool protocol.
- Ecosystem Value: RPL is essential for the functioning of the Rocket Pool network, providing value and utility to its holders.
- Unique Features:
- Non-inflationary Emission: RPL emissions are capped at a maximum supply, ensuring the long-term value and scarcity of the token.
- Adaptive Inflation: The RPL inflation rate is dynamically adjusted based on the number of ETH staked in Rocket Pool, incentivizing more ETH deposits.
- Decentralized Infrastructure: Rocket Pool utilizes a network of independent node operators to ensure the distribution and security of the staking infrastructure.
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