Rocket Pool ETH Liquid Staking

Rocket Pool is a decentralized, permissionless Ethereum staking protocol, and rETH is its liquid staking token. Deposit any amount of ETH — there is no 32 ETH minimum and no lockup — and you receive rETH, a reward-bearing token representing your staked ETH plus rewards, whose value rises against ETH over time. Staking Rewards tracks two separate figures for it: the protocol exchange ratio Rocket Pool redeems at, and the market ratio it trades at.

rETH's current APY is shown at the top of this page. That figure is a Staking Rewards Benchmark rate rather than a protocol-reported one: the underlying Ethereum benchmark, ETHSRB, divides consensus-layer earnings — block proposals and attestations, net of slashing and inactivity penalties — plus execution-layer tips and MEV by the total ETH staked, observed over 24 hours and annualized without compounding. Rocket Pool distributes execution-layer rewards through its Smoothing Pool, and rETH holders receive the rate net of node-operator commission. Because the same calculation runs every day, this page also shows what rETH actually returned over 90 and 365 days rather than only what the current rate promises.

rETH is reward-bearing, not rebasing. Your balance stays constant while the rETH/ETH exchange rate updates roughly daily as rewards accrue. That gives clean accounting for tax and treasury purposes and broad DeFi compatibility, which is why most lending markets prefer this design. It also means the price you see on an exchange and the value Rocket Pool will redeem at are two different numbers — Staking Rewards publishes both, and the gap between them is this page's peg accuracy figure. For rETH that gap is the number to watch, because most holders exit through a DEX rather than through the protocol.

Rocket Pool has multiple audits and a multi-year track record, and operator ETH + RPL bonds absorb slashing penalties before rETH holders are touched — the strongest structural buffer among the ETH liquid staking tokens. Risk remains: Rocket Pool smart-contract and oracle risk, residual slashing exposure, a possible discount to redemption value during stress, and the trade-offs of a permissionless operator model. Two of those are measurable on this page rather than matters of trust. Peg accuracy shows whether rETH is currently trading below what the protocol would redeem it for, which is the practical form the depeg risk takes. Reward stability over 90 and 365 days shows whether the advertised rate has actually been delivered.

Swap rETH for ETH on a DEX such as Uniswap, Curve or Balancer for immediate liquidity, or burn rETH through Rocket Pool's deposit pool to receive ETH directly when pool liquidity is available. Which route is better depends on the peg accuracy Staking Rewards tracks on this page: when the market ratio sits below the protocol exchange ratio, a DEX sale means realising that discount, and burning is worth waiting for. Large redemptions can face delays when deposit-pool capacity is short, which is exactly when the discount tends to widen — so check the peg figure before choosing the route.