How to stake ETH with Rocket Pool?

What is Rocket Pool?

As a well-known protocol offering decentralized ETH staking services, Rocket Pool mainly serves two user groups, namely, regular stakers and node operators.

• Regular Stakers: they can earn on-chain rewards by staking as little as 0.01 ETH, without worrying about node management.
• Node Operators: they can earn ETH and RPL on-chain incentives by staking as little as 17.6 ETH (16 ETH + some RPL tokens worth 1.6 ETH). However, they need to maintain and manage their nodes in the long run.

Rocket Pool will combine the 16 ETH from a node operator with another 16 ETH from the rETH staking pool to create a new validator on the Beacon Chain.

This article focuses on how to become a regular staker on Rocket Pool. You can check out A Node Operator's Responsibilities if you are interested in becoming a Rocket Pool node operator.

How to use Rocket Pool in imKey?

1. Before you start, make sure your phone is connected to your imKey hardware wallet via Bluetooth for a smooth experience.
2. Open imToken, tap the icon in the upper-left corner to go to the “Select Account” page, then choose the Ethereum account under your imKey hardware wallet. Switch to the “Browser” tab, enter “Rocket Pool” in the search box, and open it.

3. Click the wallet icon at the top right corner and click “Connect Wallet” to authorize Rocket Pool to access your wallet address. After that, your wallet will be connected to it.

4. Enter the amount of ETH you want to stake (at least 0.01 ETH) in the “Stake ETH” bar. The amount of rETH (it represents your staked ETH) you will receive is shown in the “Receive rETH” bar.

Note: The amount of rETH you’ll receive is related to how much ETH you staked and when you staked it, meaning that rETH you’ll get is not the same as the amount of ETH you staked. And the swap rate of rETH to ETH will continue to grow. Therefore, the amount of redeemable ETH will increase with a fixed amount of rETH. Click here for more details.

5. Tap “Stake via Protocol” to go to the payment details page. After confirming that all details are correct, confirm the signature on your imKey to submit the staking transaction. Once the transaction is complete, return to the ETH wallet homepage to view the rETH you received.

How to Redeem ETH?

Method One: unstake rETH with Rocket Pool

1. Open Rocket Pool and connect your wallet

2. Click the two-way arrow button and enter the amount of rETH you want to unstake in the “Unstake rETH” bar. The number of ETH that you can redeem is displayed in the “Receive ETH” bar.

3. Tap “Unstake via Protocol” to go to the payment details page. After confirming that all details are correct, confirm the signature on your imKey to submit the transaction. Once the transaction is complete, return to the ETH wallet homepage to view the ETH you redeemed.

Method Two: redeem ETH with rETH through DEXs such as Uniswap

You cannot unstake rETH in Rocket Pool if there is insufficient liquidity in the rETH staking pool. In this case, you can swap rETH for ETH through DEXs such as Uniswap.

Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imKey does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Token investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.