Bi-weekly update, 02 July 2024
Protocol update, over the last two weeks:
+ rETH supply declined -0.3% to 502,632 — annualised decline of -9%.
+ Pending/active minipool count increased 0.2% to 23,722 — annualised growth of 4%!
+ Node operator count increased 0.5% to 3,711 — annualised growth of 12%.
Smart Node:
+ Smart Node v1.13.6 was released — it’s a recommended update for all users as it contains important client updates, bug fixes, and new features. In particular, node operators can now connect node voting power to the address that will be used to vote on Snapshot: (https://discord.com/channels/405159462932971535/918351974406172723/1255336785257435157). You can even earn a POAP: (https://x.com/shf_ryn/status/1806769116230926513).
+ Node operators should take note of a vulnerability that was discovered in OpenSSH Server. The exploit requires exposing the SSH server to the internet but it’s still recommended to update OpenSSH as soon as possible: (https://discord.com/channels/405159462932971535/918351974406172723/1257482672763310172).
R&D:
+ Work has focused on post-Houston items. A bug was discovered that impacts exiting & closing pre-Atlas 16 ETH minipools — node operators will initialise voting power first: (https://discord.com/channels/405159462932971535/405163979141545995/1253567762740154438).
+ Node operators were requested to review the delegate page to ensure their node address is correct: (https://discord.com/channels/405159462932971535/405163979141545995/1253581789071675495).
+ As per RPIP-30, the RPL withdrawal limit has been reduced to 60% of a node’s bonded ETH. (https://discord.com/channels/405159462932971535/405163979141545995/1255039338320760905).
+ A guide was shared on Medium to support node operators to initialise their vote power: (https://discord.com/channels/405159462932971535/405163979141545995/1257211681105514616).
Governance:
+ The GMC will allocate $300,000 towards tokenomics research: (https://x.com/shf_ryn/status/1806793018705433062).
+ 1KX shared some tokenomics feedback: (https://dao.rocketpool.net/t/1kxs-thoughts-and-feedback-on-the-2024-tokenomics-rework/3073).
Integrations:
+ A crypto strategies protocol built a leveraged ETH product on rETH: (https://x.com/torosfinance/status/1807698045385277756).
+ A liquidity market protocol built on a hybrid Bitcoin/EVM “L2” now accepts rETH deposits: (https://x.com/segment_fi/status/1804201709725442055).
Media & Marketing:
+ A mystery donor airdropped every holder of the Kiln testnet POAP $1700 in RPL: (https://x.com/superphiz/status/1806106361950097889).
+ Silo Finance directed a portion of their OP rewards to rETH: (https://x.com/RP_Intern/status/1803077903694926192). The rewards can also be enjoyed via Contango: (https://x.com/Contango_xyz/status/1803077039290814838), and Beefy: (https://x.com/beefyfinance/status/1803183065277276284).
+ Flat Money launched a GMC-funded campaign that includes a gas rebate for bridging rETH to Base: (https://x.com/0xflatmoney/status/1803584745265307862).
+ Houston has been used on mainnet, with one party providing the Node and ETH, while another contributed the RPL: (https://x.com/drjasper_eth/status/1804662004143079853).
+ Rescue Node contributors are eligible to claim a GitPOAP: (https://x.com/gitpoap/status/1804223925846708317).
+ A recent episode of Rocket Fuel featured a Q&A with two core tokenomics contributors: (https://x.com/waqwaqattack/status/1807832032531120511).
+ Some disappointing commentary from VCs about home staking not being sustainable prompted responses on Twitter/X in support of home stakers: (https://x.com/RP_Intern/status/1806380082446922117).
+ The SEC mentioned that, just like you, they enjoy staying informed with Rocket Pool protocol developments here on Medium: (https://x.com/functi0nZer0/status/1806762144136057228).
+ There has been a large amount of chatter about Rocket Pool on Twitter/X over the past two weeks, far too much to be listed here. The Rocket Pool Intern has been hard at work reposting relevant content, so don’t forget to follow the little guy to stay up to date: (https://x.com/RP_Intern).
+ There was a handful of new listings for RPL, but ensure you DYOR first: (https://x.com/vox_swap/status/1806390116820385887), (https://x.com/BitcoinMe_/status/1806393132613042218), (https://x.com/klever_io/status/1806391449585684641).
About Rocket Pool:
Rocket Pool is Ethereum’s most decentralised liquid staking protocol. Its 3,200+ worldwide node operators have staked over 810,000 ETH representing over 3% of all Ethereum staked. Liquid stakers can participate by depositing as little as 0.01 ETH to receive the rETH liquid staking token. Rocket Pool is a fully non-custodial solution, and its node operators are economically aligned to perform well for stakers. Joining as a node operator is fully permissionless and requires just 8 ETH (instead of 32). A boosted ROI is provided from both operator commission plus RPL rewards. The Rocket Pool team have been in the staking space since its inception in 2016, which gives them a pedigree and track record without peer. Comments and views expressed in this content do not constitute any kind of advice, financial or otherwise.
