Rocket Pool Unveils Plans for Protocol DAO and Upcoming Upgrades
Rocket Pool, the Ethereum staking service, has revealed its plan to create a fully on-chain decentralized autonomous organization (DAO) known as Protocol DAO (pDAO) powered by RPL governance. This new system will eliminate the need for third-party tools or snapshot voting, making it entirely blockchain-based.
The pDAO will empower community members to modify protocol settings, allocate treasury funds, and respond to any potential protocol issues. The announcement caused a 25% surge in RPL price, reaching $34 before settling at $32.8. These changes will be implemented pending approval of RPIP-33 by the Rocket Pool community, with no specific timeline established.
Saturn Upgrade and Other Developments
In addition to the pDAO, Rocket Pool developers have also outlined plans for the Saturn upgrade, aimed at scaling the protocol and reducing setup costs for validators. The upgrade will allow participants to control multiple validators from a single smart contract and lower the minimum required ETH to create a minipool from 8 to 4. The Saturn release is scheduled for Q2 2024.
Hot Take: Rocket Pool Prepares for Major Upgrades
Rocket Pool’s introduction of the pDAO and upcoming Saturn upgrade signals a significant evolution for the Ethereum staking service, providing greater community governance and scalability. The surge in RPL price following the announcement reflects market confidence in these developments, highlighting the potential impact on the project’s future growth and adoption.
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