Rocket Pool, a renowned decentralized Ethereum-based staking service, has recently launched its Atlas upgrade. This significant update offers architectural improvements and ensures compatibility with Ethereum’s Shanghai hard fork upgrade. In addition, the Atlas upgrade has made it more affordable and accessible for users to stake ETH, ultimately expanding the opportunities for Ethereum validators.
Immediate Staking Rewards and Lowered Barriers to Entry
One of the most remarkable features of Rocket Pool’s Atlas upgrade is providing instant access to staking rewards for node operators. Additionally, the upgrade has effectively lowered the entry barrier for users looking to establish an Ethereum validator, also known as a “minipool” in the Rocket Pool ecosystem.
Previously, to participate in Ethereum’s staking process, node operators needed to provide a substantial 16 ether (ETH). However, with the Atlas upgrade, the requirement has been slashed to just 8 ETH, along with a small amount of RPL, Rocket Pool’s governance token. This change considerably reduces the capital needed to engage in Ethereum staking.
Rocket Pool documentation shows minipools created with only 8 ETH bonded by their owning node operator are matched with an additional 24 ETH from the staking pool. The staking pool is provided by rETH holders, creating a fully-fledged validator.
Impressive Growth in RPL Value and Rocket Pool’s Total Value Locked (TVL)
The successful implementation of the Atlas upgrade and Ethereum Shanghai compatibility has had a notable impact on Rocket Pool’s performance. RPL, the platform’s governance token, has experienced a remarkable 30% increase in value, rising to $55.37 within just six days after the Shanghai hard fork, as per CoinGecko.
Furthermore, Rocket Pool’s Total Value Locked (TVL) has surged over 20% to an impressive $1.47 billion during the same timeframe. This growth has positioned Rocket Pool as the third-largest liquid staking entity, coming only after prominent competitors Lido and Coinbase, according to data from DefiLlama.
Rocket Pool’s Atlas upgrade has revolutionized the Ethereum staking experience by providing users with immediate access to staking rewards and lowering the barrier to entry for creating Ethereum validators.
The platform’s compatibility with the Ethereum Shanghai hard fork has also contributed to its growth, with significant RPL value and TVL increases.