Ethereum Proof of Stake (PoS) Casper Pool
Rocket Pool

Rocket Pool Tokens

Rocket Pool currently has two great and very different tokens.

RPL Token
The RPL token is the life blood of the distributed Rocket Pool network and serves several important purposes. It is our primary token and available at several exchanges.
Rocket Pool Tokens
RPD Token
The RPD token is entirely user oriented and allows uses to withdraw from staking at anytime, these can then be redeemed at Rocket Pool for ether at a 1:1 exchange.
If you participated in Rocket Pools RPL crowdsale, view instructions on how to collect your tokens here.

MetaMask, MyEtherWallet, Trezor or Ledger

  • Go to MyEtherWallets Contract page.
  • Enter 0x5F5cCb699Caaa517c51410BC43979d27f51ba1C2 into the Contract Address field.
  • Copy and paste the Crowdsale Contract ABI text into the ABI / JSON Interface field.
  • Click the Access button.
  • From the Select function... dropdown, choose the claimTokensAndRefund option.
  • Select your desired wallet type, follow the prompts and ensure to provide the transaction with a min gas limit of 250,000 wei.
  • Once that transaction is processed, you'll have your tokens/refund in your wallets account.

Parity

  • Go to Parities Contracts page when Parity is running.
  • Select the Watch option.
  • Choose the Custom Contract option.
  • Click the Next button.
  • Enter 0x5F5cCb699Caaa517c51410BC43979d27f51ba1C2 into the Network Address field.
  • Add RPL Crowdsale into the Contract Name field.
  • Copy and paste the Crowdsale Contract ABI text into the Contact ABI field.
  • Click the Add Contract button.
  • On the contracts page, select the RPL Crowdsale contract.
  • Click the Execute option in the top right corner.
  • Select the account that you made the contribution from.
  • From the function to execute dropdown, choose the claimTokensAndRefund option.
  • Click the Post Transaction button in the bottom right corner and follow the prompts.
  • Once that transaction is processed, you'll have your tokens/refund in your wallets account.
If you need help at any time, please contact us here or ask for @darcius in our slack channel.

The RPL Token

The RPL token is the life blood of the distributed Rocket Pool network

The RPL protocol token is the life blood of the Rocket Pool network and is the token that has featured in the Rocket Pool token presale and crowdsale. There are a maximum of 18 million RPL tokens available. RPL is not a requirement for staking your ether with Rocket Pool.

RPL is the main protocol token of the Rocket Pool network and serves several purposes that are outlined in the white paper. In the future after Rocket Pool has been running successfully for a while, we’d like to give users and businesses the opportunity to supply their own nodes to operate as part of the Rocket Pool network, this will give them several benefits and also aid in the decentralisation of the Rocket Pool network. A quick summary of a few of its more primary purposes are:

  1. Every smart node in the Rocket Pool network requires RPL to be identified as a node that belongs in the network.
  2. The amount of RPL a node has locked in it is a base metric of that nodes resources. In the future when users and businesses can add their own nodes to the network, we can’t tell if their staking using a laptop with poor resources or a giant Amazon EC2 instance, so the amount of RPL will reflect that node operators trust in their resources. So if a node has lots of bandwidth and good hardware, you’d want to load it up with a lot of RPL so that Rocket Pool assigns your node more users and you make more ether yourself by taking a % of their interest earnings as a reward for providing the node validating service.
  3. To prevent malicious node operators in the network, any smart node operator must stake as much ether themselves as they receive from our users. This means they have as much to lose as users we assign them. RPL node operators also get to stake their own ether for free in the network in return for providing validator services.
  4. Partial compensation for users in case of node downtime. If a node operator incurs detected downtime and is penalised by Casper, that node loses RPL proportional to the effect of the downtime on users that were assigned to it for staking. So if a node incurs a detected 5% penalty from Casper when a Minipool returns, that node operator has 5% of their RPL given to the affected users. While this isn’t a 1:1 protection of value, the size of the compensation should scale with Rocket Pools success and it also provides additional incentive for node operators to behave.
  5. The more successful that Rocket Pool becomes and the bigger we expand, the more RPL becomes locked up in the network and less is available on the free market for users/businesses that want to offer validating services in the network.

The RPD Token

The RPD token allows uses to withdraw from staking at anytime.

Rocket Pool will allow users that are staking, the ability to withdraw a token that backs your deposit, the RPD token. These tokens match the value of ether on a 1:1 basis always when redeeming them at Rocket Pool, provided liquidity of the RPD contract is sufficient. Of course if lots of users have been redeeming these tokens quicker than the RPD contract can refill with ether, then users can sell these tokens on the free market, most likely at a slight discount, to users who are willing to wait for the contract to gain sufficient liquidity again. This means the user always has options to get funds quickly even while staking.

The RPD token contract contains a variable amount of ether in it at any given time. This ether is sourced from Minipools that have finished staking and had users withdraw all or part of their deposit as RPD tokens. This ether is sent to the RPD token contract where it becomes an available source of ether for those wishing to trade in RPD tokens.

When withdrawing RPD tokens, the users incurs a 5% fee which serves a dual purpose. First it prevents abuse of the RPD contract, where a user could keep in permanently drained of ether by staking, then withdrawing RPD tokens and redeeming those immediately. With the 5% fee, the user incurs a small penalty each time.

The second purpose is to help sellers out by incentivising users to buy these tokens on the free market if the user wishes to sell them there, due to the RPD contract not having sufficient liquidity at the time. This means users get an extra 5% ether when trading tokens which would help any seller out who needed funds quickly. In this case, if you had 95 RPD tokens and traded them back into the contract for ether, you would receive 99.75 ether.

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