Staking Pool Questionnaire Answers
Rocket Pool was provided an initial questionnaire by the EDDC to provide further insights into how Rocket Pool works and to evaluate their safety as a Staking Pool Service. Please see below for the EDDC questions and Rocket Pool answers.
What country is your business based out of?
Are you confident that you are adhering to all of the necessary regulations for the jurisdiction you are in?
How much control do you have over users’ funds? – Do you hold 0, 1, or 2 keys?
Do you have any insurance in case funds are lost?
Built into the protocol
What is your company’s history in the cryptocurrency space?
Around since 2016 actively working on a decentralised staking protocol for ETH2
Who are your team members, and what are their academic and professional backgrounds?
David Rugendyke – Founder and senior developer with 20+ years experience.
If you are using smart contracts, have they been audited, by whom?
Will be audited before Mainnet, most likely by Sigma Prime and ConsenSys Due Dilligence
Describe your staking setup. – Do you have your own servers, if no, which hosting provider are you using? Which client(s) are you using? How many nodes are you using? Do you have some sort of redundancy built-in? etc…
We used a decentralised network of node operators. Each node operator can choose either Prysm or Lighthouse clients currently, with support for more coming in the future. Redundancy is built into the network using economic incentives and can protect against down time penalties and slashing events.
Who is invested in your business, is there venture capital, is there a token? If there is a token, what is it used for?
ConsenSys is invested and we have our RPL token that is primarily used for governance of the decentralised network and to protect against slashing events.
How much are you charging for your staking services?
0 – There is a commission fee that goes to node operators who stake ETH on behalf of the protocol, this is dynamic based on demand though.