The @Rocket_Pool team launched the Atlas upgrade enabling 8 ETH validators less than 2 wks ago.

It's been a resounding success, let's look at some numbers

Minipool validators vs. $rETH liquid stakers 🔎

medium.com/rocket-pool/bi… Minipools:

3,654 pools launched (25% growth!!)- 2632 coming from 16 ETH reductions.

@Rocket_Pool deposited 🔥50k ETH🔥 to the beacon chain with a queue for another 60k ETH - 11% growth

Interestingly, 90 pools have been solo staker migrations and only 128 pools have exited.

It's time for the best burn since EIP-1559.

The Great @coinbase cbETH Burn.

A brief thread on one of the hottest arb trades that has finally reached its crescendo.

I expect MILLIONS of ETH to flow OUT of Coinbase and INTO protocols like @Rocket_Pool

It's already begun In my thesis on the LST ecosystem, I predicted that
"DeFi is playing Coinbase into a long con – slowly accumulating cbETH to drain away Coinbase’s stake after withdrawals."

Most underpeg cbETH has been bought for arbitrage.

https://twitter.com/Jasper_ETH/status/1607056757330939906

Lido V2 represents little progress and is *not* a meaningful path toward decentralization.

In April 2022, Lido announced this path and I decried their plan as dangerously slow and lacking substance

For the sake of Ethereum, I hope Lido does better.

A thread

https://twitter.com/LidoFinance/status/1622963224898330624

Lido v2 describes a hopeful new future - the modular staking solution.

This is a framework I've echoed before and how I describe Rocket Pool's next step forward - the SaaS integration.

However, what good is modularization without modules to use?

Good thread by Monet and I wanted to add some flavor on how @Rocket_Pool solves this issue.

Long ago Vasiliy said the end state of Lido and Rocket Pool will be very similar. He is likely still correct, however, we're approaching from polar opposites.

Whitelists for RPL 👇

https://twitter.com/MonetSupply/status/1615066975440621568

In my essay, I discussed the future @Rocket_Pool. First, Atlas, will prep the protocol for the withdrawals hard fork and lower the bond requirement to 8 ETH

Following that may come the Staking as a service upgrade which may mitigate centralization risks.

https://twitter.com/Jasper_ETH/status/1607056757330939906?s=20

Presenting Thread 2 summarizing my essay on the LSD ecosystem.

Thread 1 covered social and economic forces that favor $rETH over $stETH.

Now, I will break down the bullish catalysts for $rETH and @rocket_pool growth.

THE ORANGE CASCADE

mirror.xyz/jasperthefrien…

1/29 @Rocket_Pool The Orange Creep - Pre-Withdrawals

The pre-withdrawal era will also be marked by the 8ETH collateral reduction (LEB8s) and quality-of-life upgrades

LEB8s will triple the rETH supply alone.

From 2.2% to 6.6%, overtaking many CEXs

github.com/Valdorff/RPIPs…

2/29

The rETH premium has fallen from 2.8% to 1.2%.

Allow me to explain how 0xEAD is big braining the LSD narrative like no one else in one of the greatest arbitrage trades ever.

If you follow me you know I've been talking about Rocketarb. Well, this is THE Rocketarb.

A thread.
1/7 A brief history lesson.

0xEAD is one of the earliest @Rocket_Pool supporting whales. They have been minting $rETH since Dec 2021, just weeks after launch.

In total, they have minted >9,000 rETH.

rocketscan.io/address/0xeadb…

2/7

There is only flippening that matters -- when rETH flips stETH.

It's closer than you think.

This is the first of three Twitter threads where I will break down my magnum opus - a 50 pg analysis of how rETH will win.

mirror.xyz/jasperthefrien…

Board the Rocket

1/25 This paper represents 4 months of writing and research.

I will now break down the main points so you don't have to read all 50 pages in full, though I highly encourage you to do so.

Staking on Ethereum is easy, but the ecosystem is anything but easy to understand

2/82

Demand for $rETH has created a 2% premium!!🤯

But how can you take advantage?

I'm going to break down how you can use the $rETH premium to immediately earn ~0.3 ETH

Take MEV back from bots and help @Rocket_Pool

Rocketarb by ramana.eth 🚀

github.com/xrchz/rocketar…

1/9 First, why is $rETH at a premium while $stETH craters?

@Rocket_Pool is permissionless and so each $rETH minted in the deposit pool has to be matched with a validator, capping $rETH growth.

Since $rETH is such a secure LSD in DeFi a premium grows.

2/9

https://twitter.com/Jasper_ETH/status/1590913120033476608

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

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

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 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

https://twitter.com/LidoFinance/status/1514673952378998790

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

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

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