Coşnbase, which recently launched the Base Protocol and made a significant foray into the decentralized finance sector, has now turned to another area of this world, liquid staking. Coinbase Ventures, the company’s investment arm, has made a strategic investment in liquid staking protocol Rocket Pool.
An undisclosed amount of RPL tokens was received in exchange for the investment. The coin did not see any significant growth after the Coinbase announcement. RPL token is trading at around $28 at the time of writing.
As it is known, Rocket Pool is managed by decentralized nodes backed by a decentralized Ethereum staking pool and RPL token collateral. Here Coinbase has started running several hundred of these nodes.
The open source code of the protocol is also regularly audited by various security firms. Both of these security scans and independent node operators protect the decentralization of the network.
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