I’ve been hearing a lot of talk about Rocketpool lately and it seems like people are saying it’s in a slow death spiral. Is this true? I’m curious to hear what other people think about this. Have any of you had any experience with Rocketpool? What do you think about its future?
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(it can be hard to notice the S and extra N if not careful.)
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They can be easy to fall for if you aren’t cautious!
Remember Rocketpool from last bullrun, it was quite literally rocketing in price and now not so much.
Dex are really going through a lot of crisis, people are starting to loose trust, it’s very evident looking at volume and transactions.
DeFi in general is suffering this bear market, much more because of the hacks
A legitimate concern…
As a node operator, the exposure to RPL and associated risk is very real. It must be evaluated when deciding whether running RP minipools is right for you.
I found the risk acceptable, as have many others. But it shouldn’t be downplayed.
Really interesting analysis! I’ve always preferred Rocket Pool over Lido because it is more decentralized, but the one you described can be a significant issue. I believe that the team had seen this possibility when they designed RPL, so maybe they already have a solution for extreme cases.
DEFI = 99% ruin
Thank you for sharing this. It just didn’t feel right for me to swap my ETH for something else. In the end it’s good to listen to your inner voice…
Tnx great anlysis . between these lido is better option?!
Seems like the DAO needs to readjust the tokenomics on the RPL token, I doubt it will happen though if they have a short-term focus.
I’m an NO who sold a lot of ETH for RPL to get collateralized right before Atlas aka the top. I’m down so much on the RPL, it would take years and years of staking to break even.
Takes some of the fun out of it; would be better if I was making money from rocketpool.
RocketPool was never intend to solve partional staking only made to sell RPL token, such a bad project.
>Disclosure: I’m not FUDing Rocketpool, I myself run multiple mini nodes and have for quite some time, but this is unfortunately a very real problem that will only become a bigger problem.
Signature of a concerned user. Thanks for the write-up.
On short , the Eth:RPL ratio is the issue, irelevant if the price will bounce back to former ath’s?
Never heard of it
I can confirm. Had to convert 4.8 ETH to RPL for the collateral of 2 minipools. Right now this is worth about 2.8 ETH. I can’t imagine how people feel who have much more than 2 minipools, they will probably never break even.
Projects need to figure out how to generate and maintain revenue for governance token holders. It’s a problem for your token to have only the utility of “insurance” and no actual protocol revenue. That’s a problem that needs solved with a very significant amount of ETH project tokens unfortunately
Get out while you can.