First-Time Ethereum Liquid Staking Protocol Goes Live

1. Rocket Pool has successfully been deployed on the zkSync Era network.
2. This makes it the first liquid staking protocol to operate on the network.
3. Now, $rETH can continue to accrue staking rewards automatically.

Rocket Pool, a prominent Ethereum staking provider, has successfully deployed its platform on the zkSync Era network, becoming the first Ethereum liquid staking protocol to operate on this recently launched network. With 58 projects already live on zkSync Era, Rocket Pool joins this growing ecosystem to offer enhanced services to its users.

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By utilizing zkSync Era, Rocket Pool enables faster and more cost-effective transactions for its token, rETH, resulting in a more user-friendly experience within decentralized finance (DeFi) applications. Rocket Pool has previously established its presence on Ethereum Layer 2 networks, including Optimism and Arbitrum.

Nick Ashley, the marketing manager at Rocket Pool, expressed excitement about this significant milestone, stating, “This is another exciting step in our mission to lower barriers to entry and ensure everyone can participate in Ethereum’s proof-of-stake system.” 

Holding Rocket Pool’s rETH on zkSync Era allows users to earn rewards through the decentralized liquid staking protocol while benefiting from Era’s improved transaction speeds and reduced costs.

zkSync Era is a Layer 2 network on Ethereum that employs zero-knowledge proofs to secure transactions. Its launch in March marked the first instance of such a network natively compatible with Ethereum, enabling seamless porting of applications between the two environments.

Rocket Pool stands as one of the leading Ethereum liquid staking providers, enabling users to stake their Ether and receive rETH in return, thereby unlocking the liquidity that would otherwise remain locked up. As a more decentralized liquid staking protocol, Rocket Pool operates through a network of node operators.

A notable distinction between Rocket Pool and some other liquid staking providers is that Rocket Pool’s token is non-rebasing. Rather than issuing additional tokens as rewards, the value of rETH grows in terms of Ether, delivering a straightforward and transparent reward mechanism to token holders.

Among the liquid staking providers in the market, notable names include Lido Finance, Coinbase, and Frax, each contributing to the evolving landscape of Ethereum staking and the broader crypto ecosystem. With Rocket Pool’s integration into zkSync Era, users can anticipate an improved and streamlined experience when engaging with Ethereum’s proof-of-stake system.

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