Swap RPL at the Best Rate

What is RPL?

RPL is the protocol token of Rocket Pool, a decentralized Ethereum staking protocol. Rocket Pool splits staking into two sides: ETH holders mint rETH, a liquid staking token whose exchange rate rises as rewards accrue, while independent node operators run the validators that earn those rewards. RPL sits with the operators: it is staked on nodes, shares in protocol revenue, and carries the protocol's governance votes.

The token predates the protocol's launch. An original fixed-supply RPL was sold in 2017 while the project was developed. The current contract replaced it on 9 November 2021, when the staking protocol went live on mainnet, through a one-to-one migration that has no deadline.

How RPL works

Node operators join Rocket Pool by posting an ETH bond per validator, with rETH deposits supplying the rest of the 32 ETH. The bond started at 16 ETH, fell to 8 ETH with the Atlas upgrade in 2023, and fell to 4 ETH with Saturn 1, which reached mainnet on 18 February 2026 and introduced megapools, single contracts that host many validators for one operator.

RPL's role changed with Saturn. Operators historically staked RPL as supplemental collateral, between 10% and 150% of their ETH value, to earn a share of RPL inflation. Saturn 0 removed the mandatory RPL bond in October 2024, and Saturn 1 activated a fee switch: RPL staked on megapool validators now earns part of the protocol's ETH commission under an adjustable revenue split between rETH holders, node operators and RPL stakers.

RPL supply and tokenomics

The 2017 token had a fixed supply of 18 million. The current RPL inflates at 5% per year, minted on roughly 28-day intervals, a rate the protocol DAO can change. The initial split sent 70% of new tokens to node operators staking RPL, 15% to the oracle DAO and 15% to the protocol DAO treasury.

Saturn 1 begins winding that model down. With the fee switch live, staked RPL earns ETH from actual protocol commission instead of relying on new RPL issuance, and the minipool inflation rewards are being phased out over time. The redesign was adopted through the protocol's RPIP governance process, not by a company decision.

Who builds RPL

Rocket Pool was conceived by David Rugendyke in late 2016, and he remains its CTO. The core team is small and public, works with a large open-source community, and ships audited protocol releases with planetary names: Atlas, Houston, Saturn.

The protocol is non-custodial by design. The team does not hold staked ETH; validators are run by independent node operators around the world, and rETH holders' stake is spread across them.

How RPL is governed

Rocket Pool has two DAOs. The protocol DAO is RPL-weighted: node operators' effective staked RPL conveys voting power, moderated by a square root modifier, and since the Houston upgrade in April 2024 its votes execute on-chain. The oracle DAO is a smaller membership body of trusted nodes that reports off-chain data such as balances and countersigns protocol upgrades.

Changes are specified as Rocket Pool Improvement Proposals, debated on the governance forum and voted by RPL stakers. Saturn's redesign of the token's own economics, including the fee switch and the adjustable revenue split, went through exactly that process.

What people use RPL for

RPL is a working asset inside the protocol rather than a payment currency. Operators stake it on their nodes, voters direct the protocol with it, and since Saturn 1 stakers collect ETH from protocol commission.

• Stake RPL on a megapool validator to earn a share of protocol commission in ETH.
• Vote on protocol DAO proposals with effective staked RPL.
• Earn the remaining RPL inflation rewards while they phase out.
• Swap leftover 2017-era RPL one to one through the official migration, which has no deadline.

RPL risks and considerations

RPL's value depends on Rocket Pool's share of Ethereum staking, which competes with much larger centralized and decentralized providers. Its reward model is mid-transition: inflation rewards are being phased out while the ETH fee share ramps up, and the revenue split between rETH holders, operators and RPL stakers can be changed by governance.

RPL is not rETH: it holds no staked ETH and its price floats freely, so staking it alongside a node adds token exposure on top of validator risk. Tokens trading under the RPL name on other networks are bridge representations; the protocol, its staking and its governance live on Ethereum, so verify the contract address before trading elsewhere.