The venture arm of the Coinbase exchange invests in Rocket Pool, the second most popular liquid staking protocol on Ethereum.
The official announcement from Coinbase Ventures states that it has purchased RPL tokens from Rocket Pool team as a strategic investment into the protocol.
Coinbase Ventures says that it will actively participate in Rocket Pool’s Oracle DAO which manages operations such as overseeing governance, monitoring proposals, constructing rewards Merkle tree for node operators and more.
WIth this strategic investment, Coinbase will be using ETH from its corporate balance sheet to operate several nodes on the Rocket Poo.
“We’re honored to help support Rocket Pool’s long-term growth and look forward to engaging with and contributing to the Rocket Pool community in the years ahead,” said Coinbase Ventures.
Rocket Pool is a liquid staking platform that allows solo stakers to join in running a node on Ethereum and secure the network. Its governance token RPL jumped 9% in markets following the announcement.
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