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RPL

RPL is the  native utility token of the ecosystem, a decentralized platform. RPL can be staked on a node as insurance. [1][2][3]

Migration

In November 2021, a new protocol token was released and the old Rocket Pool token was migrated using the Rocket Pool website.[4][5]

Tokenomics

RPL follows a different approach than most fixed-supply  tokens and introduced a 5% annual inflation. The protocol argues that any value-generating protocol will need to reward its participants. A fixed-supply model would result in this value being generated at the expense of its users. [3]
RPL inflation is initially 5% pa and is allocated as follows:

  • Node Operators RPL as insurance collateral (70%)
  • Oracle members providing various data (15%)
  • Protocol DAO Treasury to fund decentralized development (15%)

This model incentivizes key stakeholders and supports decentralized development. The Oracle comprises Node Operators who report Oracle data accurately, while the Protocol DAO governs the protocol's treasury. [3]

Utility

Network Participation

RPL token holders can use their tokens to run their nodes and participate in the network as a node operator. By running a node, users can contribute to the security and decentralization of the network and earn rewards for providing staking services. [1]

Governance

RPL token holders have the right to participate in the governance of the Rocket Pool platform. They can vote on proposals and decisions that impact the protocol's development, upgrades, and parameters. The governance model ensures the community has a say in the platform's evolution. [1]

Protocol Fees

RPL token holders can use their tokens to pay for protocol fees for premium services or features on the platform. This maintains the platform's operations. [1]

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RPL

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Edited On

June 12, 2023

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updated info

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