Rocket PoolVISIT NOW
Decentralised Ethereum Proof of Stake pool currently in alpha
Smart contract blockchain
David Rugendyke - Founder & CTO
Michelle Keane - Chief Administrative Officer
Rocket Pool creates an infrastructure solution for blockchain based on Ethereum. The site and the project documentation are overloaded with marketing phrases and technological terms, so it will not be easy for a nonspecialist to understand what the essence of the project is and what advantages it can give and how will develop. Yes, and the rest of the project does not look very convincing - from the design of the site to the White Paper. There are some pluses, for example, the published code on GitHub, but it seems insignificant after all.
User ReviewWrite review 2 reviews
Wrote this after studying RocketPool and the scammy business model for their ICO token. RocketPool has either already done all of these things, or continues doing them:
“How to Get Rich Through an ICO Scam” (based on RocketPool’s ICO Playbook)
1. Launch ICO for a product with massive Total Addressable Market — TAM. Award ICO tokens and advertise as if “they will be needed” to use this massive service your platform will provide.
2. Be shady, never truly and fully address that tokens will only work on your platform’s tiny “side business” (for example, advertise a pooling service for the masses to be able to stake ETH to participate in Casper’s POS, though never directly clarify to ICO investors that their tokens will only be good for a mini “run your own node within our pool” side-business).
3. Create fake hype that ICO tokens will be needed for main business with massive TAM, and not the actual tiny one they’re good for (running people’s independent nodes within your massive ETH staking platform, for example).
4. Create fake hype indeed, but please, not too much. You will only need to fool /scam, less than 1,000 medium-sized ICO investors until you get rich. Why making unnecessary fuss?
5. Stay away from the spotlight. This means spending no money on marketing, having close to zero social media presence. The idea of running a Telegram group would be amateurish. That would only bring attention from unwanted business savvy outsiders, who are likely to point out fatal flaws in your scammy business model and scare your ICO investors. You definitely do not want that.
6. Staying away from the limelight also means that ICO investors who have not crunched the numbers, done their research properly or who just believed in the fake hype, won’t find out until way too late, when there’s near to zero demand in exchanges for side-business-Mickey-Mouse tokens from ICO.
By the time they realise you won’t care as you already got rich personally, and on top of everything, also got crazy funding for dream platform you’re trying to build. Life’s good… :)
7. If you actually get to build this platform, you get to use it to address huge original TAM on your own (well, almost on your own as ICO investors will participate in the tiny “independent node” fraction of your real business). Then again you also get to associate with VC companies for your real and main product (for example Consensys).
Yay!! New REAL partners!! Not like those “fake” ICO partners…
8. If you don’t get to build the platform well, as I said, you got rich from ICO sell already anyway. Stay happy. Win-Win!
Do folks reading this find this familiar and / or very concerning in any way?
Look forward to your thoughts and a healthy debate
But I know this is exactly what’s going on with this ICO. David, the founder, super shady dude who pretends to be nice. Or maybe he is a nice guy but a scammer. A nice scammer.
Currently Rocket Pool will charge a fee on any interest you earn while staking to help cover node costs. So lets say you deposit 100 ether and receive 10 ether in interest, we would charge 5% of that 10 ether, so our fee would be 0.5 ether. Obviously this is really really early stages and could change, but its that general approach I’d like to take.
If for any reason Rocket Pools smart nodes play up and the user doesn’t receive interest on their deposit, then we don’t charge a fee (thats in the code right now :). It’s up to us to provide a reliable staking service, so if we drop the ball for any reason, you don’t get charged anything.
I think finding the right equilibrium of minipools to stake on each smart node will be the key to keeping costs down. If a smart node has fairly beefy specs, it should be able to handle being a validator for a number of minipools assigned to it.
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