DeFi yield aggregator yearn.finance has officially launched the new Ethereum vault Curve Rocket Pool on March 23. With the launch of the yearn vault, users can utilize the Rocket Pool ETH (rETH) and Lido stETH (wstETH) tokens to earn Ethereum (ETH) staking rewards available on both sides of the Curve Finance pool.
Yearn Finance Announces Ethereum Staking With Curve Rocket Pool
yearn.finance announces in a tweet on Wednesday regarding the launch of its Ethereum staking vault Curve Rocket Pool. Yearn vaults helps user maximize yield through shifting capital, auto-compounding, and rebalancing.
“Yearn’s newest & most powerful Ethereum vault = unlocked. Curve Rocket Pool vault is live, and you can earn ETH staking rewards on 2 sides of a @CurveFinance pool with Rocket Pool ETH (rETH) and Lido stETH (wstETH).”
Users will get ETH staking rewards, CRV emissions, and Curve transaction fees, as both sides of the pool are ETH staking tokens, rETH and wstETH.
rETH liquid staking token represents staked Ether in Rocket Pool, while wstETH liquid staking token is a wrapped token that represents staked Ether in Lido. Rocket Pool and Lido are both decentralized staking pools for Ethereum 2.0. However, Lido has a significantly larger market share than Rocket Pool in staked ETH.
Moreover, Yearn Finance will automatically harvest and re-deposit CRV and CVX emissions into the Ethereum vault to boost yield. Users will use Yearn Zaps to deposit any major token such as ETH, USDC, or other into this vault. The deposit will be automatically converted to rETH+wstETH by Zaps. Then, put it in Curve and stake on Yearn in only one transaction.
Or else, in order to manually enter the Curve Rocket Pool, deposit Rocket Pool ETH (rETH) + Lido stETH (wstETH) tokens on Curve. Further, deposit rETH+wstETH liquidity pool tokens on Yearn.
Ethereum Staking Rises Before Proof-of-Stake Transition
The Ethereum will transition from proof-of-work to proof-of-stake after the merger of Ethereum mainnet with the Beacon chain proof-of-stake system, most probably this June. After the transition, the Ethereum staking yields are expected to rise as rewards paid to miners will be included in transaction fees. Crypto exchange such as Coinbase anticipates a two-fold increase in yields.
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