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Though on Rocketpool ETH staking. Is it safe? What could go wrong? Should you stake all of your ETH on it?
Received 3 NFT's while staking with Rocketpool
Wallet enhancements for the next generation of decentralized power users
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tldr; The market cap of liquid staking assets has increased by 5%, led by Lido and Rocket Pool, with their respective tokens LIDO and RETH showing gains of 5.2% and 5.9%. Despite the overall bullish momentum, technical indicators suggest potential overbought conditions for both assets, advising traders to be cautious of possible price corrections. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Yes, but you need to give your ETH away for RETH
RPL / RETH and LIDO/STETH reminds me of LUNA/UST so a bit hesitant.
The short clip shows that the wallet has USDC, RETH, ETH etc And it seems they were sending 0.00062 ETH
Read the article. Restake is a new protocol type where you can "restake" your already staked ETH. This is a leveraged staked position, which can be liquidated if the underlying asset is depegged (e. g. STETH, RETH, etc.).
RETH doesn’t really have much in the way of fees, pays about the same as STETH
There is no supply squeeze because of countless Staking Tokens such as stETH, BETH, RETH that people buy instead of ETH to stake.
Not even my dude. Not even. I've got regular old ETH, Staked ETH (L2 on Loopring wallet) WETH on Polygon, RETH staked on Rocket Pool, and ETH on Arbitrum.
ETH if you count my ETH, STETH, WETH, RETH and Arb ETH.
I have 10, but 4 of those are ETH. (ETH, RETH, STETH, WETH). I'm only DCAing into 4 coins at the moment though.
I'd say use a LSD to stake in a cold wallet depending on how comfortable you are with self-custody. Look at Rocket Pool (RETH) it is a Liquid Staking Derivative.
Poor curve. If RETH gets hacked gg for eth
>but a holder of RETH (rocketpool) would only be subject to capital gains tax. Why? I don't use rocket pool. I'm too poor, but always wonder about it. ​ Is it like Coinbase's token?
Depends on how you "stake". Solo staking would be income (in America for all these), something like STETH would be income I believe (I think they distribute new STETH to STETH holders as rewards come in), but a holder of RETH (rocketpool) would only be subject to capital gains tax. Although I realize they are technically not the ones staking, I assume the validator operators are still subject to income tax.
Yes. But I’m not taking about keeping it on exchanges. Read up on Rocketpool. You basically get given RETH for your ETH. The RETHs value increases annually from the staking rewards they receive from staking your ETH. So when you convert your RETH back into ETH you get more ETH back than when you started. All the while your RETH can be stored anywhere you like, including a hard wallet.
Rocketpool is a very legit, well designed and open source protocol. Node operators needs to deposit RPL as collateral to pay in case they miss behave or get slashed, that’s to protect RETH holders so they don’t miss on rewards. I wouldn’t stake my whole bag, in any protocol to be fair. But the portion I’m staking is using Rocketpool. Take a look at r/RocketPool, those guys are active and provide a lot of valuable information
Righto, so if you look at RETH/rocketpool-eth, you'll notice the price is pretty much the same as regular ETH: Check out Rocket Pool ETH https://www.coingecko.com/coins/rocket-pool-eth The rETH is generated when users deposit ETH into the rocketpool contract (along with locking up a small amount of RPL) for a specific minipool. The minipool is set up by an operator, who posts 16 ETH (I think they're going to lower it to 8 ETH soon) for half of the 32 ETH required to run a validator. When the validator exits, the minipool is closed, the holders of the rETH can withdraw the ETH in the pool (not sure here). Until then the rETH can be traded on a DEX or CEX.
You can do that on l2 directly. RETH you can buy on arb/op. You can take your eth directly from kraken to l2 without ever using mainnet.
>Does anyone have any information on Rocketpool and why my wallet has received 3 random NFTs? No. >I don't like that I have these things being airdropped or is this normal? It's normal for random NFTs to be airdropped in wallets. >Is my address now compromised? No, as long as you haven't done anything with it. It's a bit like receiving normal mail in the post, anyone can send it to you. >or if it's even safe to continue using my staking address. If you haven't interacted with them, it is fine. >Im about at the point of sending my RETH back to Rocketpool and creating a new wallet. Unless you have interacted with the NFTs, you'll just be wasting your time by creating a new wallet. >I have never been a fan of NFT's. Cool story. >Im not sure if this is a common scam or if this is a legitimate airdrop. Random NFTs are generally a common scam, unless you are expecting them, hide them, ignore them. >I don't feel easy touching them at the moment until I have the correct information on what to do about this. And this is exactly how you should feel.
I just made a post about this especially for the new lst/lsdfi craze a lot the tokens out there are clear securities especially for a lot of the staking protocols such as StEth or RETH or the new protocols like lybra finance that allows you to mint a stablecoin that earns you interest. It seems like these coins would easily get scrutiny from the SEC, because it’s not about an ICO anymore but the tokens themselves. This has adverse effects on the growth of the project because protocols like lybra finance, and other future lst projects might not be able to get listed on exchanges and get VC investment. Ultimately stunting the project. A lot of projects could have an argument that they aren’t securities if they provide enough evidence of decentralisation, but for tokens like the liquid staking protocols where it seems like you’re holding a token that bares the holder a dividend it’s hard to defend the commodity stance. For future projects and devs it’s clearly an important part of development now that they should consider the tokenomics to see if it will comply to the SEC rules.
And for people with much less, just buy RETH
I did all the converting on my hot wallet and sent my RETH to my Ledger. It costs some extra gas but it's worth peace of mind IMO
Buy RETH Enema Repeat
If you really wanna stake your ETH, stake on an L2 like Loopring. Fees are like less than $2 in total to move from L1 -> L2 and stake if you use orbiter finance or layer swap, and then you can earn passive staking rewards from trusted coins like RETH and wstETH
There's two angles through which this isn't really the case. One which other commenters mentioned is the deflation occurring in Ethereum post-merge, which will cut the total supply from 120 million to something like 60 million ETH over the next ~200 years. The other is that you can stake ETH to earn from the tokens that are being generated by validators. I use Rocketpool RETH for this, though there are a variety of options. There's also some degen plays you can make with outrageous yield farming on DEXes but it's less consistent and carries higher risk.
Can stake LRC or RETH in the Loopring DEX or wallet
u/malificent_plankton thanks for another well researched and high quality post. Two points. Geth is probably the most “supported” of the clients in terms of EF sponsorship. It’s one of the oldest clients though and seen as an important reference. Even though it has a very complex code base, it’s maintained by the EF almost as a public good, even though many more modern clients exist (see RETH for example), because of how many other downstream forks and clients depend on it. It still contains PoW code for example which is used by ETH PoW. Second, this really is one of the most important metrics of decentralisation, beyond all others. More credit needs to be given to the Solana community for pushing to build a serving client. When we talk about resilience and avoiding downtime, this will be an important step for that network. Ethereum had similar attacks and wobbles in its early days, but as a community we were able to rapidly shift between clients to keep the network running smoothly.
This is a large part of why I make sure 50% of my holdings are BTC at all times, and rebalance if any of my alts go on a tear. My strategy is a 50/35/15 split. I divide by 35 ETH up into a staked and unstaked portion, split across STETH, RETH and BETH for safety. The other 15% I hedge into competitors for my two big positions, primarily ETH competitors and NANO for an environmentally friendly currency/value store. If they go on a tear I rebalance my portfolio to keep my exposure level. The only thing I don't do is sell BTC to go further into alts or ETH, I just switch my DCA until it levels off.
It’s not that they don’t have good tech. It’s the fact I can’t trust the team behind it. I’m sure there are good devs and they will do well. But putting someone like that and not addressing that issue is huge red flags for me. Just FYI, I use LRC platform, use the dual investment features a good bit and hold RETH on their layer 2. So it doesn’t mean I won’t use their platform, just won’t hold nearly as much as I did in the past (my holdings of LRC token is down 99% from when I first invested). I still hold a little. But to my knowledge, they never addressed the illegal pumping that took place. The hype was completely fraudulent and at no point warranted the level of hype they tried to build up. What happened to the filings worth 10 quarterly filings? What happened to the bread crumbs of working with GME only to get snubbed from IMX? All because they couldn’t stop commuting fraudulent hype that even GME didn’t want. When you commit any kind of fraud, whether it’s SBF level or just a defrauding investors on what you are putting out there, you lose my money.
> 1) The loss of custody over customer assets > > You swap your ETH for RETH. Isn't this a swap instead of giving up ownership? I can always sell or swap my RETH afterwards. That is still a security. It's what the term "securitization" means in the context of commodities. A Wheat futures contract is a security, for example, even though Wheat is a commodity. Making a token/contract/share is exactly what securitization refers to. RETH is a classic example of a security - especially under the Howie test. As for Custody, virtually *every* form of custody involves an exchange like this. For example, When you deposit your money into the custody of a bank, you implicitly recieve a claim against that bank on their ledger - exactly how you recieve a claim on the blockchain (which is just a fancy ledger). This is *not* a nee or unique model and has existed (and been legislated) for centuries. > 3) risk of loss for the owner of the security. > > You don't lose your ETH when the node operator gets slashed. The node operator loses it. Good to know, I was wrong about that nuance but that's not actually the main problem when it comes to risk of loss. Rug pulls, fraud, defaults/bankruptcy of the actor *also* imply that risk, and that can only be mitigated legally by registering as a security, having disclosures and audits, etc. If a compliant company goes under, there are mechanisms in place to protect client funds. Not so with Rocket Pool - or at least, not enough to satisfy the regulatory requirements.
Why do you think that those 3 points are applying to RETH? \> 1) The loss of custody over customer assets You swap your ETH for RETH. Isn't this a swap instead of giving up ownership? I can always sell or swap my RETH afterwards. \> 2) the "securitization" of those assets in the form of claims (or tokens) representing delegated ownership This could be the case. That is up for lawyers to decide. \> 3) risk of loss for the owner of the security. You don't lose your ETH when the node operator gets slashed. The node operator loses it. The node operator is putting 16 ETH into the pool. Then other people provide the other 16 ETH. The slashed amount will be deducted from the node operators ETH, never from the other participants.
It’s becoming more and more decentralised, there are now ten client teams. And RETH is on the way.
Fair and understandable.bim nervous about my loopring wallet because there's no keys, yet, that's why I like it. If your in ETH, check out beefi and their ETH chain. They have ETH/RETH and wstETH/ETH pools which will aggregate like up to 10%apy and there's minimal IP losses because the coins generally move together. Beefi also has a single stake USDC/USDT and a bunch of other pools for stables/algos. It's a pretty neat dAPP. Thank you for your honesty, that's rare these days.
No it’s liquid staking so you just purchase RETH and it should appreciate in value over time. Read up a lot about it so you know what your doing first. I would check out the rocketpool subreddit if I were you.
GMX is an extremely smooth dApp, I love it. I've been investing in it too. Very natural growth, immense TVL, and they're far in profit. The team behind it are very smart and the backend tech is as polished as their frontend.. It's Arbitrum's best app. Arbitrum is running an event - eventually - Arbitrum Odyssey, where you do tasks for NFTs, and the first week that goes live Arb is getting everyone try GMX for that week's NFTs. I seen a couple comments in this thread that don't know the beauty that is GMX - validation I'm still early. It's a great DEX, try it out if you haven't before. I think RPL has a good shot personally. Very sustainable tokenomics. To validate on Ethereum you need 32 ETH, **or** you can create a 'mini pool' on Rocketpool for 16 ETH - using 1.6 RPL as collateral for in case you're slashed then 16 other ETH from a 'rETH' pool.. Then regular people can buy 'rETH', a liquid staked ETH derivitive *that bears interest* in any denomination, and they don't have to worry about slashing because it's backed by RPL. Rocketpool is developing on making *8 ETH* mini pools, with plans on reducing that down to 4 ETH later on and maybe even 1-2 if possible, down from 32 regularly or 16 using Rocketpool today. The incentives to run a 'Minipool' are that smaller fish can run their own validators, allowing even smaller fish to hold staking derivites and earn yield on their $50 of ETH. But my thesis is based on those with <32 ETH already - instead of running 1 validator they're now able to run 2 - maybe up to 16 validators in the future, using the same amount of ETH. To those would-be solo validators, they're able to earn greater yield in Rocketpool using the RETH pool to make up multiple validators than going solo, mostly because of RPL's own token incentives. If you're to run 2 mini pools, (16+16) instead of 1 solo pool you're required to put up 1.6+1.6 RPL as collateral, and if you ran 4 mini pools you'd need twice as much collateral than that. This gives RPL demand, since it's the only way to 'leverage your validator yield' which tbh sounds exactly like something people would do. When most validators locked up, Rocketpool wasn't available. No decentralized staking was at all, actually. Rocketpool is completely decentralized, and even uses the same ETH clients to validate allowing for ease of migration. When unstaking is enabled, probably in the Spring/Summer, I expect a lot more people will use Rocketpool than today, assuming people do care about decentralization. Rocketpool did an interview on Bankless before and threw out the most wild numbers - but I double checked the math after and it backs up. Even if 1/10th of *their* thesis comes true it should be a very strong token next bull market. Their whitepaper is very good also, explains it a lot more clearly than I just did. Aside from that L2's themselves are profit machines. Their security costs are >1/100 of an L1 yet they process practically 100x as much activity. In other words they aren't inflationary. Arbitrum individually has more activity than Solana now, so does Optimism iirc. Each are only just coming out with their tokens *now* so there should be lots of opportunities to get in on distribution (such as Arbitrum Odyssey, Optimism Quest, Zksync validation, etc.) otherwise it may be a good opportunity to DCA (to mitigate from the initial inflation, speculative dumps, etc.). These are the next cycle's *L1-killers* imo. Zksync wants to be maximally decentralized, their token will likely act the same as ETH, whereas I believe the Optimism token is used for governance (to decide where the all the profit goes), so each are different and require their own research. No cost + high profit - if they can't make *that* work there's no hope looking at fundamentals anywhere lol.
I am stuck in deciding whether to stake my ETH or no. On 1 hand I would like to earn the juicy yields while waiting for the bull run to start. However I'm also worried about the possible risks involved. Anyone able to advise? Fyi I would be keeping it in a ledger. I know lido works, but not too sure about RETH. Can rockelpool's staked eth be stored in the ledger as well?
Yeah it's like ETC, ETH, RETH, WETH. Like how many ETH do we need ? Lol 😆
I think buying and holding RETH (rocket pool) in a hardware wallet is the best option and how I hold a large part of my crypto. Focus on the asset and the self custody instead of the APY. If the crypto value drops 20%, or the staking provider gets hacked, the who cares that you made 4% instead of 3.
The validator puts in 16 of their own ETH and receives 16 ETH from the deposit pool. The validator doesn't have access to the 16 ETH from the deposit pool, the rocketpool smart contract does, it is completely non-custodial. They could fail to validate and get slashed, but that is why the validator must put up RPL collateral which acts as insurance for slashing, so even if the 16ETH that they are using to validate (which they cant do anything else with) gets slashed, their RPL stake is used to cover the loss. The only way to access my share of the ETH in the pool is with my keys, returning my RETH for ETH.
RETH is NOT ETH and if rocketpool is attacked, your rETH is worthless and your actual ETH is gone. That’s the risk.
If you're actually interested in learning how it works, Google the rocketpool tokenomics articles the company wrote. There are 3 of them. You have mistaken how it works, rocket pool as a company has no control at all. It is a series of smart contracts, rocket pool itself takes no fees. They never receive your eth. It's pretty much just a way more gas intensive way to setup a solo validator that allows people to pool their eth together, non custodian entirely. Slashing events are covered by a collateral of the RPL token the node operator is forced to put up. All slashing gets taken out of the node operators 16 eth (soon ish to be 4eth), and any excess slashing above that gets taken from the RPL collateral so it is very very low risk for users of RETH. it's a pretty complex system and I personally think some of it is dumb as fuck, but they made almost no concessions on decentralizing the protocol and it is impressively non custodial .. they deserve kudos for that even if it can't currently compete with LIDO
Lots of liquidity for ETH : RETH on zigzag exchange for those wanting exposure to ETH staking. Also, they have confirmed there will be a governance token airdrop,
Recommend looking in to rocket pool (if you’re the least bit okay with maintaining a crypto wallet, don’t stake with a central service). Seriously, staking with rocket pool is as simple as swapping your eth for rocket pool eth (rETH). RETH will gain value against eth over time (at the same rate as the current beacon chain APY) and you swap back to eth whenever to claim your staking reward.
tldr; Realms of Ethernity is a play-to-earn MMORPG that is also a ‘meta-metaverse’ – being both an exciting RPG game in itself, as well as a game-of-games hosting other metaverses. The game is powered by the RETH governance token, which enables the community to take the reins. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
RETH holders will be able to govern the project’s treasury, disburse grants and make key roadmap and product decisions.
$BMC (Company Bluemonstergames) Website: Bluemonstercoin . com $RETH (Game token of RealmsOfEthernity, under Bluemonstergames) Copperlaunch is on Dec. 20 Website: realmsofethernity . com $QAO (Multi-chain future DAO token) has big updates this month and next year January Website: QAO . io Where to buy: Polygon network How to buy: https://youtu . be/WPBn0sM-eIM
Fairmoon and RETH ( Rugethereum) from an well know ´ anti rugpull´ ambassador. Barely no one saw that coming.