Summary:
I present to the community with the opportunity to add rETH to the BASE V3 market as a reserve.
Motivation
The AAVE base market has only centralized Liquid restaking tokens for Ethereum, cbETH and WstETH. As with the other network markets on AAVE, rETH is an option for participants to lend/barrow rETH. rETH is available on the base network, and there is much utility for this popular liquid staking token not to be on this base marektplace. Here is a run down of the DAO of rETH.
Rocket Pool is a decentralized Ethereum staking protocol with permissionless Node Operators.
- Rocket Pool provides a liquid staking experience for Ethereum stakers; they do not need to run a validator, and they can contribute any amount of ETH
- rETH is a LSD token representing staked ETH.
- The rETH liquid staking token accumulates value against ETH over time.
- Simply swapping ETH for rETH (or buying it on a secondary market) provides access to Ethereum staking rewards.
- Without a stake pool service, only wealthy network participants who meet the 32ETH threshold are rewarded for validating transactions.
- Rocket Pool democratizes participation in network validation by providing a service which lowers the collateral threshold.