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Staking with Rocket Pool in Ledger Live

This article provides an overview of Rocket Pool and explains the process of staking ETH through Ledger Live using Rocket Pool. It also covers the steps to withdraw (unstake) RocketPool-staked ETH (rETH) from the Rocket Pool protocol.

Interested to learn more about Rocket Pool? Rocket Pool's official FAQ might have the information you're looking for.

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 rETH Mechanics: A Unique Approach

When you deposit ETH into Rocket Pool (RP), you are given rETH tokens in exchange. These tokens represent your share of the staking rewards generated from both the native Ethereum and Rocket Pool's ETH staking operations. Unlike Lido's stETH tokens, which increase in quantity daily, your rETH balance remains constant. Instead, the fiat value of rETH increases to reflect the accumulation of staking rewards. As a result, rETH's price will consistently be higher than ETH's. This implies that when you swap ETH for rETH, the amount of rETH you receive will be less than the amount of ETH you deposited, due to the value appreciation from staking rewards. You can learn more about the relationship between ETH and rETH ratio on the Dune Analytics Dashboard.

What is Rocket Pool?

Rocket Pool is a protocol for decentralized Ethereum (ETH) staking. It enables users to stake as little as 0.01 ETH securely with a network of decentralized node operators, supported by RPL token collateral. By exchanging ETH for rETH, users earn staking rewards based on the collective performance of node operators.

What is rETH?

When you deposit ETH into Rocket Pool, you receive rETH tokens which will be reflected in your Ethereum (ETH) account in Ledger Live, typically at a ratio of less than 1:1, reflecting your staking rewards. Unlike native staking methods that tie up funds for long periods, rETH offers immediate liquidity and flexibility. You can freely trade, sell, or hold your tokens. This flexibility extends to its use in DeFi applications.

How to stake ETH coins with Rocket Pool?

Before you start

Install the Rocket Pool app on your Ledger device

  1. Connect and unlock your Ledger device.
  2. Open Ledger Live and navigate to the 'My Ledger' section.
  3. If asked, allow Ledger Live to access your Ledger device by pressing both buttons on your Ledger device simultaneously. 
  4. In the 'My Ledger', select the App catalog, search for Rocket Pool and click Install.
    You're done.

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     Rocket Pool is developed and supported by the Rocket Pool community.

How to stake ETH coins with Rocket Pool through Ledger Live

  1. Open Ledger Live, navigate to the Discover section and select the Rocket Pool app.
  2. In the Rocket Pool dashboard, select your Ethereum (ETH) account that holds the ETH coins you want to stake.

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  3. Enter the amount of ETH you wish to stake then click on Stake.
  4. Sign the transaction on your Ledger device.
    Once the transaction is confirmed on the Ethereum blockchain you will receive an amount of rETH equivalent to the amount of ETH staked.
How to monitor your rETH staking rewards with Rocket Pool?

Rocket Pool's platform offers a straightforward ETH to rETH swap interface without a dedicated reward tracker. However, you can still expect rewards to accumulate continuously over time based on your stake in the RocketPool network. Given that rETH's value continuously rises relative to ETH to represent these rewards, monitoring the rETH price is the most effective method to track your staking returns.

How to unstake ETH coins with Rocket Pool?

The best way to unstake your rETH tokens is by swapping them back for ETH directly in the Rocket Pool app, located in the Discover section in Ledger Live. Here's how it's done:

  1. Launch Ledger Live and navigate to the Discover tab.
  2. Select the account you intend to Unstake.
  3. On the Rocket Pool dashboard, locate the toggle arrows in the center. Adjust the toggle arrows so that "Unstake rETH" is positioned at the top and "Receive ETH" is placed at the bottom.Screenshot 2024-02-22 at 10.39.20 AM.png
  4. Click Unstake.

    Regarding the timing of unstaking, it mainly relies on two factors: the accumulation of sufficient rewards or your decision to exit one of your validators. Typically, this means that the unstaking process can take place either on the same day or within a few days. For those interested in checking the queue time, you can find updated information at

 Why would I want less than a 1:1 ratio when staking ETH through Rocket Pool?

When you stake ETH and convert it into rETH with Rocket Pool, you may notice you receive slightly less than a 1:1 ratio. This difference arises from the mechanics of staking and offers several benefits:

  • Immediate Liquidity: Unlike traditional staking, Rocket Pool provides immediate liquidity. You can freely trade, sell, or hold rETH tokens without waiting for a lock-up period.
  • Network Participation: Staking with Rocket Pool actively contributes to the Ethereum network's security and decentralization. You earn rewards in rETH tokens, representing both your stake and accumulated rewards.
  • Continuous Reward Accrual: Although the initial exchange ratio may be less, continuous rewards accrue in the form of rETH tokens over time. As the Ethereum network produces new blocks, you receive ongoing rewards.
  • Integration with DeFi: rETH tokens seamlessly integrate into various decentralized finance (DeFi) applications, offering additional financial opportunities beyond traditional staking rewards.

Next Steps

  • Connect with the Rocket Pool community here.
  • Explore a concise four-part series for a detailed look at how Rocket Pool's Ethereum staking protocols function.
  • Discover Rocket Pool's story and history here.

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