What is Rocketpool (RPL)?

Rocket Pool is a pioneer ETH liquid staking protocol designed to be decentralized, community-owned and trustless. It connects those who want to participate in tokenized staking using rETH with very low ETH holdings with those who wish to stake ETH and run a node to earn higher ROI and additional rewards.

RPL is the native token of the Rocket Pool ecosystem. It serves various functions, including reward, governance token, collateral and more. Unlike many other cryptos with a fixed supply, RPL has an unlimited maximum supply with 5%25 annual inflation. The protocol uses newly issued RPL tokens to reward node operations and empower DAO members.

How Does Rocketpool (RPL) Work?

Rocketpool is a decentralized protocol that allows everyone to participate in ETH staking, regardless of the size of their ETH holdings and technical knowledge. It does so by giving them a network of decentralized autonomous nodes. Additionally, it complements the staking nodes by giving them the opportunity to maximize their returns by joining Rocketpool and receiving a commission, as well as additional RPL rewards. Those who wish to become node operators in Rocketpool are required to deposit some collateral from RPL tokens as an insurance for the penalty scenarios. The deposit amount depends on the type of node.

When someone stakes ETH on the nodes operated in the Rocketpool ecosystem, they receive rETH (wrapped ETH in Rocketpool) in return. rETH is the tokenized version of the staked ETH through which the participants earn staking rewards. To ensure that every participant follows the guidelines, the value of rETH is subjected to the slashing of RPL tokens deposited by node operators as collateral. In case of any misbehaviour, the network can penalize the operators by slashing their RPL holdings.

Rocketpool provides a commission to its node operators, depending on their supply and demand. This commission rate changes according to the availability of nodes.

Unlike a single governing DAO, Rocketpool has two primary governing bodies: the Oracle DAO (oDAO) and the Protocol DAO (pDAO). The Oracle DAO comprises a group of special Rocketpool nodes that manage the administrative duties that smart contracts can not perform due to technical limitations. On the other hand, pDAO handles the future direction of the Rocketpool protocol and is powered by RPL governance. Both oDA and pDAO receive 15%25 supply of the newly issued RPL tokens to reward those who participate in them.

How to Buy Rocketpool (RPL) in India?

There are many platforms where you can invest and Buy Rocketpool (RPL) in India.

One such platform is Flitpay. To buy RPL in INR, you have to sign up to Flitpay, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, ensure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy RPL and execute the purchase.

You can instantly convert your INR to RPL and RPL to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After Buying Rocketpool (RPL)?

RPL can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold the RPL till it reaches a high price, and then you can sell it through Flitpay's OTC order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

FAQs

What is Rocketpool (RPL)?

RPL is the native cryptocurrency of the Rocketpool platform. It acts as a collateral asset and reward for the network participants. In addition to these two functions, the RPL token powers Rocketpool's governance by giving its holders a say in protocol changes. RPL has an uncapped supply of an inflationary nature.

What is the Rocketpool (RPL) price in India?

Check out the current INR price of RPL crypto in India on Flitpay.

Which is the best crypto app in India to buy RPL?

Flitpay is the best cryptocurrency app in India to buy RPL, buy Ethereum, or your favourite cryptocurrencies. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of Rocketpool (RPL)?

As the one-of-a-kind decentralized ETH liquid staking protocol, Rocketpool allows anyone, regardless of the size of their ETH holdings, to participate in staking and earn rewards. It also attracts nodes by providing them additional commission and rewards in its native RPL tokens.

The Rocketpool ecosystem has multiple use cases for RPL tokens, including rewards, governance, and collateral. With Ethereum permanently shifting to proof-of-stake consensus, staking protocols like Rocketpool and their native cryptos have a good scope of growth in the crypto space.

Is it safe to invest in Rocketpool (RPL) in India?

Yes, investing and trading Rocketpool is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying RPL tokens. It is regulatory compliant and offers real-time prices, advanced investing features and lowest trading fees.

Where can I deposit and withdraw Rocketpool (RPL) crypto in India?
Flitpay facilitates hassle-free and Instant deposits and withdrawals of numerous cryptocurrencies with minimal or no fees.

More ETH Liquid Staking Platforms to Explore: Lido DAO, Ankr