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Constellation is a protocol built on Rocket Pool which improves its capital efficiency and scalability while reducing asset concentration risk -- all without compromising on the base security model. |
The Problem
To be maximally trustless, Rocket Pool requires node operators to post a bond for each validator. This restricts growth by requiring a constant supply of NOs who can afford this bond and leads to an uneven distribution of assets across nodes.
The Solution
Constellation liquidizes the NO bond, opening it up to external investors via tokens called xrETH and xRPL. The ETH and RPL deposits used to mint these tokens are used by the Constellation smart contracts to create new minipools on Rocket Pool which are operated non-custodially by NodeSet operators.
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Constellation + Rocket Pool Architecture (simplified)
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Sketch of Constellation contract architecture
There are four main user roles in this system:
1) Depositors (xrETH or xRPL holders)
2) Node operators
3) Administrator
4) Treasurer
NodeSet has created a testnet deployment of Constellation on Holesky. The Directory contract is located at this address: 0x925D0700407fB0C855Ae9903B3a2727F1e88576c
Gravita has also launched a deployment of Constellation on Ethereum mainnet. The Directory contract is located at this address: 0x4343743dBc46F67D3340b45286D8cdC13c8575DE