Rocket Pool proposal sparks negative discussion

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There has been a recent surge in negative sentiment towards decentralized staking protocol Rocket Pool (RPL), confusing data watchers.

According to cryptocurrency analytics provider santimentOn November 6, RPL saw a surge in mentions, topping the trending list with 40% negative comments.

This vitriolic criticism contrasts with the positive outlook for Ethereum (ETH), which garnered over 54% positive sentiment and 29% negative sentiment on the same day.

Rocket Pool proposal sparks negative comments - 1
Social Value of Rocket Pool | Source: Santiment

What is Rocket Billiards and why is it so annoying?

Rocket Pool aims to open up Ethereum staking to users who lack the 32 ETH required to run an independent validator node. Using a tokenized staking system called rETH, users only need 0.01 ETH to stake and receive staking rewards.

The protocol also enables node operators to earn higher returns than staking alone by drawing rewards from user deposits. Rocket Pool emphasizes decentralized governance and trustless operations in line with Ethereum’s guiding principles.

The latest controversy stems from Rocket Pool Proposal 30 (RPIP-30), currently awaiting a community vote. RPIP-30 will overhaul the RPL emissions program to better align incentives. The most controversial change is the new two-step withdrawal process, which locks RPL for 28 days before being removed from the agreement.

While supporters believe this will prevent governance attacks, critics have criticized the move as being contrary to the ethos of Rocket Pool. Critics also fear the change will trap assets and enrich early investors at the expense of new investors.

Rocket Pool community advocate Jasper explained that he supports the change.

He further Quote Nethermind researchers believe that node operators are sensitive to Rocket Pool’s annual percentage rate (APR), especially when collateral is set at 10%. For this reason, researchers recommend an annual interest rate of 15%.

Voting will close on November 17, and the next few days will be decisive for Rocket Pool. But whatever the outcome, the heated debate highlights the growing governance headaches Ethereum faces as it gradually transitions to proof-of-stake.


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