Coinbase Ventures strengthens its partnership with Rocket Pool by investing in the protocol, and participating in voting on proposals in the oDAO.
Rocket Pool, an Ethereum-based staking platform, has just announced on its Discord that Coinbase Ventures is pouring capital directly into the DeFi protocol. Quoted verbatim from the investment fund as follows:
“We are pleased to announce that Coinbase Ventures is strengthening its partnership with Rocket Pool through a direct investment in RPL in addition to proposed participation in oDAO. Coinbase Ventures also plans to use RPL and ETH to create its own mini pool Rocket Pool.”
Breaking from the @Rocket_Pool discord – @cbventures has announced an investment in $RPL to run mini pool and support both Ethereum and $rETH holders. pic.twitter.com/HglzLO01LR
— jasperthefriendlyghost.eth | jasper.lens (@Jasper_ETH) February 17, 2023
Thus, along with investing in the staking platform, Coinbase will also hold an important vote in the oDAO for project decisions. In addition, the exchange will launch a separate pool for the RPL – rETH token pair.
However, details of the investment value have not been announced by the project.
Launched in November 2021, Rocket Pool positions itself as a staking solution for the Ethereum blockchain, which allows users to participate in running a node in Ethereum’s decentralized system or launch their own node. .
Rocket Pool recently recorded reached 1 billion USD in locked value (TVL) Less than 2 years after its release.
RPL price is currently trading around the $50 mark, up 10% in the 24-hour frame.