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
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
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).