Rocket Pool, a liquid staking protocol, has received a strategic investment from Coinbase Ventures, the investment arm of cryptocurrency exchange Coinbase.
Coinbase has acquired an undisclosed amount of RPL
An undisclosed sum of RPL, the protocol's native token, was purchased by Coinbase as part of its investment in Rocket Pool. In order to promote decentralization, Rocket Pool has a network of over 3,100 node operators and over 780,000 ETH staked for liquid staking on Ethereum.
Coinbase is involved with Rocket Pool's Oracle DAO in addition to providing funding, and it uses ETH taken from its corporate balance sheet to run a sizable number of nodes on the Rocket Pool network.
The decision fits in with Coinbase's broader initiatives to secure and decentralize the expansion of Ethereum's infrastructure in order to bring more users on to the blockchain.