Rocket Pool to Integrate With Zksync Era, Offering Faster Speeds and Lower Transaction Costs
According to Rocket Pool, a liquid staking derivatives provider, users will have the ability to liquid stake their ETH using the Layer 2 (L2) Zksync Era network. The company clarified that Rocket Pool liquid stakers utilizing Zksync Era will enjoy faster speeds and lower transaction costs.
Liquid Staking Protocol Rocket Pool Joins Forces With Zksync Era
The liquid staking protocol Rocket Pool, ranked third in size, is set to integrate with Zksync, as announced on Twitter. Statistics reveal that Rocket Pool currently holds 733,575 ether, equivalent to $1.3 billion, within its liquid staking protocol. On Thursday, the team tweeted, “Rocket Pool is coming to Zksync Era. You’ll soon be able to liquid stake your ETH on Zksync Era by simply holding rETH in your wallet. Just like on mainnet and other L2’s, rETH will continue to accrue staking rewards automatically.”
Liquid staking has gained popularity in recent years, and this year has witnessed a significant surge in the number of ETH staked in these protocols. Nearly 10 million ETH are currently locked in the leading liquid staking protocols, with Rocket Pool capturing 7.72% of the market share. Zksync, an Ethereum Layer 2 (L2) solution akin to Arbitrum and Optimism, introduced Zksync Era in March, just two months ago. Rocket Pool has outlined that stakers utilizing Zksync will enjoy faster confirmation times and reduced network fees.
“Liquid stakers will benefit from faster speeds [and] lower transaction costs, secured by Zksync Era’s zero-knowledge proofs,” Rocket Pool said. “Another step in our mission to reduce barriers to entry [and] ensure everyone can participate in Ethereum’s proof-of-stake system.” According to data, the present transaction cost on Zksync stands at $0.10 for sending ether and $0.24 per coin swap. In contrast, an onchain ETH transaction incurs a cost of $1.54, while a high-priority token swap onchain transaction costs $13.91.
Rocket Pool has experienced notable activity in the past two months, and seven-day statistics indicate a 4.87% increase in its total value locked (TVL). Over the previous 30 days, Rocket Pool’s TVL has risen by 25.68%. Despite holding the third-largest amount of ETH among liquid staking protocols, Rocket Pool falls behind Lido Finance, which commands an impressive 73.90% of the entire Ethereum-based liquid staking market share. Out of the current 9.49 million ETH held, Lido’s protocol accounts for 7.01 million ether.
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