The Rocket Pool Layer Zero Bull Case

mirror.xyz/0x04BEE613690e…

Running a @Rocket_Pool node is great.

But what if you could do more?

What if you could validate Ethereum with RP, secure a data availability layer, and run an oracle with the same node?

Layer 0 =👑🚀

1/8
Ethereum staking is the largest crypto economic market and it is based on security.

Defense is measured in various ways including the number of individual node operators that exist as well as the amount of capital locked.

For @Rocket_Pool that's >1500 nodes and >$500 mil.

2/8
An irony of such a system is that the strongest defense is one that's never used--the system works best being maximally capital inefficient.

@eigenlayer recognizes that the trust and capital layers of oracles/L1s are split, yet would be more efficient if they were cohesive.

3/8
DataLayr is a proof of concept where Ethereum node operators can include data-specific middleware tieing their Ethereum validator to additional bonding requirements.

@eigenlayer connects the trust layer to the dApp, in this case DataLayr.



4/8
Rocket Pool has created the perfect counterparty for EigenLayr. The @Rocket_Pool node operator set already is taking on additional risk on their ETH validators for higher gains while being incredibly decentralization and security minded.

An army for hire.

5/8
The benefits are reciprocal between Ethereum, @eigenlayer, and @Rocket_Pool.

The more we can utilize the technically proficient, decentralization-aligned layer 0, the higher the overall network security will be.

Modular, rehypothecated security.



6/8
One day a Rocket Pool node may be running a community-driven fork of the official smart node stack that incorporates not only DataLayr and Rocket Pool, but perhaps Chainlink CCIP, rollup sequencers, provers, and more earning returns 3-4x base ETH yield.

7/8
The union of @eigenlayer and @Rocket_Pool will usher in a new yield economy built on the strength of Ethereum security.

The protocol sink thesis suggests value flows to the base layer.

Node operators are the base, the layer 0, bulwarks of tomorrow.

mirror.xyz/0x04BEE613690e…

8/8

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with jasperthefriendlyghost.eth

jasperthefriendlyghost.eth Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Jasper_ETH

Sep 8
For years people have been begging @Rocket_Pool to start incentives to bring in $rETH demand and start a fortuitous flywheel in DeFi to beat stETH.

Frens, degens, visionaries, please welcome your reborn LSD heavyweight.

Crazy APYs on mainnet and optimism.

A thread 👇

1/11
Rocket Pool came in strong with 90k USD in bribes for vlAURA holders. This made @Rocket_Pool the highest bidder thereby taking the reigns in the @Balancer ecosystem.

The effects are immediate on Balancer and ramping up on Aura finance.

Let's do some math.

2/11
Currently, the rETH @AuraFinance pool has 1.47% BAL rewards.

BAL APY just did a 10-15x.

This means TVL will do a 10-15x.

Early AURA depositors will be earning 50-60% APR

Hundreds of millions USD worth of $rETH demand is coming to @Balancer on mainnet.

But OP tho 👀

3/11
Read 13 tweets
May 23
The Risk Assessment team from @MakerDAO has published its report on @Rocket_Pool staking token $rETH

Rocket Pool 🤝 Maker

The most ETH-aligned protocols in the staking and stable coin markets are integrating.

TLDR report and implications

👇👇
forum.makerdao.com/t/reth-collate…
1/16
The Risk team has done a deep dive into the entire @Rocket_Pool protocol to understand what a safe partnership between Maker and Rocket Pool looks like. Based on their findings, they propose a debt ceiling of 5 million DAI at a liquidation ratio of 170%.

Let's see why -

2/16
The assessment is split into 3 parts: (1) protocol overview, (2) $rETH token metrics, (3) $RPL dynamics in the protocol.

3/16
Read 17 tweets
Apr 14
The Case Against stETH

Lido does not present a compelling path to decentralization and, if things continue, will be putting Ethereum at risk as they swallow all staked ETH.

-DVT isn't a magic bullet

-Social scores are slow
->60% of all ETH could be staked 1year postmerge
1/16
This chart should scare you. Lido is completely dominating inflows of ETH into the space. It has not been Coinbase or Binance leading the surge in new ETH staked - it's Lido.

Lido has choked out *all* competition. The marginal staker added is not a CeX staker, it's any. 2/16
Every week new DeFi integrations come out to compound stETH's stake. The pinwheel that *they themselves want* is in full force. Leverage is now dependent on the ETH/stETH peg holding.

This much on the line demands a better path to decentralization. 3/16
Read 16 tweets
Mar 5
Over the last few weeks I've worked with @Rocket_Pool @LidoFinance @CurveFinance @ConvexFinance @iearnfinance and @Tetranode to create the most powerful/profitable Liquidity Pool in all of DeFi.

Move over Yearn stETH vault, the time for rETH is now.
mirror.xyz/0x04BEE613690e… 1/10
TL;DR thread: First there were the CEXs who took all your ETH because you had no choice in staking. Then came along Lido who let you keep stETH but still had major trust assumptions.

2/10
Lido is now larger than any pool on Ethereum that we know of and is leading us to some hard questions as @superphiz asks here:

3/10
Read 10 tweets
Feb 24
One of the most important votes in DeFi is going on right now as @ConvexFinance votes on adding a gauge for a wstETH-rETH pool. If this vote passes, a new era will begin where ycrvstETH will no longer be king. The time for @Rocket_Pool is now.

snapshot.org/#/cvx.eth/prop…
1/6
The start of the killer collateral - ycrvwstrETH. Currently, ycrvstETH is one of the top assets in DeFi. It is safe/easy to use in Yearn and easily adopted into new protocols. It is the 4th largest vault for minting $mim and part of one of the deepest pools in @CurveFinance.
2/6
Currently, ycrvstETH earns 4.6% APY. This 4.6% includes liquidity incentives paid in $LDO , $CRV, and $CVX. That's a lot of rented liquidity! Meanwhile, if this $rETH pool is onboarded it will have *100% staked ETH exposure.* The first basket of liquid staking tokens.
3/6
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(