The liquid staking platform now operates on the Ethereum L2. While smart contracts interaction increased, monthly active users fell.
Liquid staking allows users to stake their ETH and receive a representation of their staked assets in the form of a token.can be freely traded or utilized within the Ethereum ecosystem. Moreso, it helps in providing liquidity and unlocking additional earning opportunities for stakers.
By integrating with zkSync, Rocket Pool noted that it would aim to leverage the scalability and low transaction costs offered by the L2 solution. For context, zkSync utilizes Zero-Knowledge proofs to enable fast and secure transactions. This significantly reduces fees and congestion on the Ethereum network. zkSync’s statement read,
“As Ethereum’s most decentralized liquid staking protocol, we’re also researching how zero-knowledge proofs can be used in other parts of the protocol to provide decentralized security” Following the disclosure, Rocket Pool’s Total Value Locked rose by 2.83%. This brings the total hike in the last 30 days to 16.29%.The TVL describes the number of smart contracts deposited into a protocol. Therefore, this hike implied that market participants have been contributing to the protocol’s health.
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