Introduction
Rocket Pool proposes listing Rocket Pool’s Liquid Staking Token ($rETH) as collateral on all markets on the Ethereum Mainnet. With a substantial total supply and significant demand on the Ethereum Mainnet, we anticipate that this addition will stimulate borrowing activity among rETH users, who can leverage their $rETH holdings.
Type: Collateral deployment
Authors: Rocket Pool DAO Head of Growth (Jon)
Motivation
Liquid Staking Tokens are the most popular asset in DeFi due to the real yield it produces. The Rocket Pool community is excited to propose the listing of rETH, the liquid staking token, as collateral on the USDT, USDC, USDS Markets on Ethereum Mainnet. rETH is a decentralized, trustless, and permissionless token that represents staked ETH on the Ethereum network. By holding rETH, users can earn staking rewards while maintaining liquidity and flexibility, allowing them to participate in DeFi activities without being locked into traditional staking arrangements. By listing rETH on Compound, we believe that both the Compound and Rocket Pool communities will benefit from increased capital efficiency and accessibility. rETH will keep stablecoin demand on Compound Finance. Compound users will gain access to a new, decentralized collateral option that is backed by the security of the Ethereum network, while Rocket Pool users will be able to leverage their staked ETH to access Compound’s lending and borrowing markets, further enhancing the utility and adoption of rETH.
Important Links
- Website: https://rocketpool.net/
- Twitter: x.com
- Current Marketcap: https://www.coingecko.com/en/coins/rocket-pool-eth
- Coinmarketcap, Coingecko; Blockexplorer link and contract address: GeckoTerminal, Contract Address: 0xae78736cd615f374d3085123a210448e74fc6393
- Audits: Rocket Pool - Decentralised Ethereum Liquid Staking Protocol
Next Steps
We invite the community to give their feedback and recommendations for the asset.