Proposal: Add support for rETH Token

74b084d50ea1e3935ebec492c39e33d3b9d3bba0

1. Who is the interested party for this collateral application?

  • Rocket Pool Pty Ltd.
  • David Rugendyke | Project Founder, CTO

2. Provide a brief high-level overview of the project, with a focus on the applying collateral token.

  • Rocket Pool is an Ethereum 2.0 Proof of Stake infrastructure service.
  • rETH is a redemption token representing staked ETH.
  • 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 wealth threshold.
  • Abstracting staked ETH as rETH participants are able to retain commodity properties of their stake (transfer of ownership).

3. Provide a brief history of the project.

  • 2017 - Rocket Pool proof of concept based on the specifications released for Casper in the Mauve paper by Vitalik Buterin.
  • Today there is a great team working on Rocket Pool passionately alongside a fantastic community. Both have helped Rocket Pool run two public betas with over 50,000 ETH (testnet) staked and hundreds of users participating over the last 1–2 years.
  • 2021 With Ethereum 2.0 on the horizon, Rocket Pool is aligning its battle-tested platform to begin staking as a decentralized network.

4. Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.

5. Link any available audits of the project. Both procedural and smart contract focused audits.

6. Link to any active communities relating to your project.

7. How is the applying collateral type currently used?

  • When rETH becomes available it can be used as a commodity

8. Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?

  • Brisbane, Queensland (QLD)

9. Where does exchange for the asset occur?

  • rETH is currently unlisted.
  • It is intended that rETH will be able to be exchanged wherever ETH is exchanged.
4 Likes

Probably my ignorance, but I thought Rocket Pool was still in testnet beta? That’s all I find on their website.

They are in public Beta - I could not post all links because new accounts limits you to 5 links.
They have a discord with up to date info.
Audit is in process.
I submit this listing proposal now because I assume there is some governance bureaucracy which takes time, RocketPool will be released by the time proposal would be approved. IMO

Maybe it’s a good suggestion

I’ve been participating in the beta and it’s a great project. Very thorough and well done.