Crypto Analyzer

Rocket Pool’s rETH and wstETH Pools are Now Live on Pendle Arbitrum

In an exciting new development for the cryptocurrency market, Rocket Pool has announced that its rETH and wstETH pools are now live on Pendle Arbitrum. This launch signals the beginning of a major liquidity drive for #LSD and #LSDfi on Arbitrum, offering deeper liquidity, faster growth, and infinite possibilities.

While LSDs already exist on Arbitrum, the need for greater liquidity has been apparent in order to match the vibrancy seen on the Ethereum platform. With the launch of these new pools, Pendle is set to catalyze the unlocking of richer, stickier liquidity that can also be used in other protocols on the Arbitrum network.

For liquidity providers, this launch brings a potential windfall. Rocket Pool promises that providers could receive up to a staggering 115% APY with rETH or wstETH on Arbitrum, accompanied by minimal impermanent loss (IL) considerations.

Liquidity supplied to these new pools will continue to contribute to the underlying protocol’s total value locked (TVL). This is a double boon as, in addition to driving liquidity to Arbitrum, Pendle also enhances the utility of these yield assets.

Holders of these assets are now able to utilize Pendle’s yield management facilities for the speculation and trading of #LSD yields on Arbitrum. This facility is currently available for rETH and wstETH holders. Bridging these tokens from Ethereum to Arbitrum is a simple two-step process.

To bridge these tokens, holders need to visit the official Arbitrum bridge at https://bridge.arbitrum.io and connect their wallet. Once connected, they need to select either rETH or wstETH from the dropdown menu on the “From Mainnet” tab.

For those who haven’t interacted with these tokens before, they will need to import the following contract addresses:

rETH: 0xae78736cd615f374d3085123a210448e74fc6393 wstETH: 0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0

After selecting the desired amount for deposit to Arbitrum and clicking “Move funds to Arbitrum One”, holders will be asked to pay the necessary gas fees on both Ethereum and Arbitrum. After successful confirmation of the transaction, the holder’s rETH or wstETH balance will be updated on Arbitrum in their wallet.

Following this, holders can start using their rETH and wstETH on Pendle Arbitrum. As the cryptocurrency world embraces this development, all eyes will be on Arbitrum and Pendle, anticipating the future advancements this partnership could herald.