Coinbase announced that it would invest in Rocket Pool. In addition to investing in the staking platform, the firm will also have a significant vote in the ODAO for project decisions.
Investment by Coinbase in Rocket Pool
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The company strengthens its connection to the protocol by its investment in it and its involvement in oDAO voting. The company is making a direct investment in the DeFi protocol, according to a recent Discord announcement from the protocol, an Ethereum staking platform.
As a result, the company will have a vital vote in the oDAO for project choices in addition to investing in the staking platform. The exchange will also create a unique pool just for the RPL-rETH token pair. Yet, the project has not made the precise investment amount public.
About The Protocol
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The Ethereum blockchain’s staking solution protocol, which debuted in November 2021, enables users to take part in running a node in Ethereum’s decentralized system or start their own node. After a little less than two years of operation, the protocol just reached a $ 1 billion locked value (TVL).
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