Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/s3.amazonaws.com/arc-authors/coindesk/3511dac7-07ba-4423-9003-82143ec00eab.png)
Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Coinbase Ventures has increased its involvement with liquid staking protocol Rocket Pool. Last Friday, the investment branch of one of the largest centralized exchanges by trading volume joined Rocket Pool’s Oracle DAO (oDAO), a group of permissioned special node operators that perform extra duties for the protocol.
As such, Coinbase Ventures will receive a share of the 15% of the total RPL inflation produced at each rewards period dedicated to Rocket Pool’s Oracle DAO. RPL, the native token for the Rocket Pool ecosystem that provides direct incentives, insurance and governance for protocol according to a blog post, has traded flat in April, ranging between $43 and $44, per CoinGecko. Additionally, rETH, Rocket Pool’s staking derivative, has a premium against ETH: On Uniswap, 1 rETH swaps for 1.07295 ETH at press time.
Earlier this year, Rocket Pool founder David Rugendyke announced that Coinbase Ventures had invested in the staking platform. Coinbase Ventures’ recent inclusion with Rocket Pool’s oDAO comes as many in the crypto space are gearing up for Ethereum’s Shanghai hard fork, set to enable ether withdrawals for the first time on April 12.
A pseudonymous Rocket Pool node operator, who goes by [object Object] on Discord, said they welcome Coinbase Ventures as a member of the Oracle DAO, but also responded to CoinDesk, “I personally would like to see more non-U.S. based entities in the oDAO going forward. As it stands, 8/18 oDAO members are based in the U.S.”
Edited by Christie Harkin.
DISCLOSURE
Please note that our
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
which invests in
and blockchain
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Sage D. Young is a tech protocol reporter at CoinDesk. He owns a few NFTs, gold and silver, as well as BTC, ETH, LINK, AAVE, ARB, PEOPLE, DOGE, OS, and HTR.
