Monday, January 16, 2023

Rocket Pool Bi-weekly Update | 2022-01-17 Update

Protocol update, over the last two weeks:

+ rETH supply has grown 4.7% to 176,651 - annualised growth of 124%

+ Minipool count has grown 5.0% to 11,076 - annualised growth of 131%

+ Effective RPL staked has declined* -6.1% to 7.09m - annualised decline of -160%
\(Rapid RPL price increases can cause collateral to exceed 150% & become ineffective)*

+ Node operator count has grown 4.0% to 1,968 - annualised growth of 105%

Smartnode:

+ The Rocket Pool team has been working with Lodestar to resolve compatibility issues in their code with v1.8.0 Beta 1. Meanwhile, work has been progressing on v1.7.3.

+ Atlas Smartnode integration work is continuing.

R&D:

+ A website refresh has commenced, including moving to a multi-page setup with more detailed information to ensure that it can appeal to node operators looking to migrate over to Rocket Pool once withdrawals are live, and featuring additional LSD & DeFi ecosystem information.

+ The second Atlas audit is underway now, with ConsenSys Diligence starting preparatory work.

+ The Rocket Pool Router was launched, aggregating rETH secondary markets to fulfil your transaction via the deposit queue and/or decentralised exchange & deliver the best possible rate. Other improvements were made to the staking website including displaying the premium/discount if any: (https://twitter.com/Rocket_Pool/status/1612495605720567808).

+ Kicked off work to push rETH exchange rate to Polygon and ZKSync 2.0.

Integrations:

+ Pendle integrated our rETH-WETH Aura/Balancer pool into their yield-trading platform (https://twitter.com/Rocket_Pool/status/1613355161342345217) with volume subsequently outperforming: (https://twitter.com/pendle_fi/status/1613928343908544512).

+ MYSO launched rETH zero-liquidation “hyperstaking”: (https://twitter.com/Rocket_Pool/status/1613222653602705408) and subsequently RPL/USDC pools: (https://twitter.com/MysoFinance/status/1614043240180719619).

+ MetaMask integrated Rocket Pool liquid staking: (https://twitter.com/MetaMask/status/1613953273957945352) and this was subsequently covered in media pieces including Fortune: (https://twitter.com/Rocket_Pool/status/1615039717669769218).

+ Multiple CEX’s listed RPL. Please take all necessary precautions before interacting with centralised entities. The listings included LBank: (https://twitter.com/LBank_Exchange/status/1613778285598498816), BitForex: (https://twitter.com/bitforexcom/status/1612766327084564480), and Gate: (https://twitter.com/gate_io/status/1612732252688977922).

+ rETH onboarding to Aave has commenced with the publication of an ARC: (https://twitter.com/lemiscate/status/1614943189131218944).

Governance:

+ Coinbase was proposed as a new oDAO member: (https://discord.com/channels/405159462932971535/405163979141545995/1062872861867528273), which was subsequently covered in media pieces including The Defiant: (https://twitter.com/DefiantNews/status/1613977440937996288) and Bankless: (https://twitter.com/RP_Intern/status/1614452380296433665). The event was celebrated in Discord with a POAP.

+ An oDAO member launched new minipools: (https://twitter.com/Jasper_ETH/status/1614773971429515264).

+ The first round of Grants & Bounties submissions has now closed, with multiple worthy submissions meaning the committee will have plenty of work ahead to determine how best to distribute the funds: (https://dao.rocketpool.net/t/january-2023-gmc-community-discussion-of-submitted-applications/1334).

+ Joe posted an update to the Rewards Tree Spec v4: (https://dao.rocketpool.net/t/odao-rewards-tree-spec-v4/1389).

+ Valdorff posted a draft RPIP on self-limiting: (https://dao.rocketpool.net/t/self-limiting-principles/1396).

+ Superphiz produced an oDAO v1.7.2 upgrade analysis piece: (https://dao.rocketpool.net/t/rocket-pool-odao-v1-7-2-upgrade-analysis/1385).

+ Ken posted some proposed protocol settings for the Atlas release: (https://dao.rocketpool.net/t/proposed-protocol-settings-for-atlas-release/1367).

Media & Marketing:

+ Relentless LSD fever gripped the markets over the past two weeks. A seemingly endless stream of Rocket Pool content was created in addition to the selection listed below. The Rocket Pool intern continues to tirelessly curate the most insightful pieces every day for your easy reference: (https://twitter.com/RP_Intern).

+ DefiLlama started tracking Rocket Pool minipools in their Yield Dashboard: (https://twitter.com/DefiLlama/status/1615201498354405376).

+ A Romanian-based company, 01node, launched minipools: (https://twitter.com/01node/status/1610643535237193734).

+ An analyst for CMS produced a report about Rocket Pool: (https://twitter.com/cmspeary/status/1611025665549275140).

+ A crypto YouTuber produced content covering Rocket Pool: (https://twitter.com/CryptoTubeYT/status/1612105876348747780), (https://twitter.com/RP_Intern/status/1613258349390495745).

+ Gamma produced a thread covering the high Uniswap v3 volume for rETH: (https://twitter.com/GammaStrategies/status/1612217314811826185).

+ Sreeram Kannan from EigenLayer talked about Rocket Pool during an interview: (https://twitter.com/RP_Intern/status/1614455485121560577).

+ Waq’s Launch Pad featured Joe: (https://twitter.com/waqwaqattack/status/1613542710295535616), and Jasper: (https://twitter.com/waqwaqattack/status/1611348052282851329).

+ Rocket Pool was featured in Loopring’s Q4 report: (https://twitter.com/loopringorg/status/1612947175461322757).

+ Exponential Capital announced additional RPL buys: (https://twitter.com/EXPO_Capital/status/1613258324446969857).

+ Kryptview added functionality for users to provide detailed reviews of Rocket Pool: (https://twitter.com/RP_Intern/status/1612877212059074560).

+ Selected LSD market commentary featuring Rocket Pool included content from Delphi Digital: (https://twitter.com/Delphi_Digital/status/1612842105906368512), and Messari: (https://twitter.com/MessariCrypto/status/1612479488922898433), (https://twitter.com/MessariCrypto/status/1610694011051970560).

+ Rocket Pool was also mentioned in articles by Bloomberg: (https://twitter.com/RP_Intern/status/1613964595441303559), CoinDesk: (https://twitter.com/CoinDesk/status/1610227049335083010), and BitcoinAgile: (https://twitter.com/bitcoinagile/status/1610292381860896770).

+ And Rocket Pool was mentioned in two more articles by Cryptoglobe: (https://twitter.com/RP_Intern/status/1613832609230123012), (https://twitter.com/RP_Intern/status/1612548809254637568).

+ Finally, Rocket Pool was also covered in articles by Decrypt: (https://twitter.com/decryptmedia/status/1612397226545893378), Yahoo Finance: (https://twitter.com/RP_Intern/status/1612545664604606464), and cryptonews: (https://twitter.com/RP_Intern/status/1615138441540534272).


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