What is RPL coin? What can RPL coins do? How to store RPL coins?

RPL, the native cryptocurrency token of the Rocket Pool (RPL) decentralized protocol, empowers users to participate in Ethereum node operation, delegation, and network governance.

Oct 04, 2024 at 09:54 am

What is RPL Coin?

RPL is the native cryptocurrency token of the Rocket Pool (RPL) decentralized protocol. Rocket Pool is a decentralized network that enables individuals to run Ethereum nodes and earn rewards for their participation in the network.

Key Features of RPL Coin:

Node Operator Rewards: RPL holders can stake their tokens to earn rewards for operating Ethereum nodes on the Rocket Pool network.
Delegation: Non-node operators can delegate their RPL to node operators, allowing them to participate in rewards without running nodes themselves.
Governance: RPL holders can participate in the governance of the Rocket Pool network, including voting on protocol improvements and parameters.

What Can RPL Coins Do?

Node Operation: Stake RPL to become a node operator on the Rocket Pool network and earn rewards.
Delegation: Delegate RPL to node operators to earn rewards without running a node.
Governance: Participate in network governance and vote on protocol updates.
Speculation and Trading: RPL can be traded on cryptocurrency exchanges for speculative purposes.

How to Store RPL Coins?

RPL coins can be stored in the following ways:

Hardware Wallet: Store RPL securely offline in a hardware wallet such as the Ledger Nano X or Trezor Model T.
Software Wallet: Store RPL in a reputable software wallet such as MetaMask or Coinbase Wallet.
Rocket Pool Minipool: Users can store their RPL in a Rocket Pool Minipool, which offers additional features for node operators and delegators.

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