Lido (LDO) and Rocket Pool (RPL) Tokens Now Listed on Coins Pro Platform
Subscribe to our newsletter!
Philippine crypto exchange Coins.ph has announced the listing of two new tokens – Lido DAO Token (LDO) and Rocket Pool (RPL), on its trading platform, Coins Pro. Coins Pro serves as an order book exchange that allows customers to buy and sell cryptocurrencies with each other.
Lido DAO Token (LDO) Overview
The Lido DAO Token (LDO) is the governance token of Lido Finance, a decentralized finance platform (DeFi) that enables users to participate in crypto staking without heavy hardware or extensive knowledge requirements.
Lido Finance: A liquid staking solution
Lido Finance offers a liquid staking solution for Ethereum (ETH), Solana (SOL), Polygon (MATIC), Polkadot (DOT), and Kusama (KSM). During the launch announcement of the Ethereum Shanghai Upgrade last January, $LDO’s price increased by 64%.
Governance and Use Cases
As a governance token, LDO holders can participate in governance by voting for proposals, with one vote recognized per LDO. The token also helps manage fee parameters and the addition or removal of nodes from the network.
It is also an ERC-20 token with a 1,000,000,000 maximum supply. Currently, there are about 33,000 holders of a total of 845,998,268 LDO tokens.
Rocket Pool (RPL) Overview
Rocket Pool (RPL) is the utility token of Rocket Pool, a decentralized Ethereum staking pool offering up to 4.33% APR for ETH2 staking. Users can join the Rocket Pool’s decentralized node operator network or run their own nodes for only 16 ETH.
rETH and RPL Tokens
Rocket Pool operates on a dual token model, rETH and RPL.
rETH is a tokenized version of staked ETH in Rocket Pool, allowing users to stake from 0.01 ETH to 32 ETH. RPL, an ERC-20 token, incentivizes node operators for high uptime and discourages penalties by staking RPL to receive a higher share in protocol commissions.
Expanding Token Offerings on Coins Pro
With the addition of LDO and RPL on Coins Pro, the platform now offers a total of 28 tokens available in PHP pairs, while only two tokens, ETH and BTC, are available in the USDT pair.
The available tokens with PHP pairs include AAVE, APE, AXS, BCH, BTC, CHZ, ENJ, ETH, GALA, KNC, LINK, MANA, MATIC, MKR, SAND, SLP, UNI, USDC, USDT, XRP, YGG, SHIB, BLUR, BNB, DOGE, TRX, RPL, and LDO.
This article is published on BitPinas: Lido (LDO) and Rocket Pool (RPL) Tokens Now Listed on Coins Pro Platform
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.