rETH Holders Can Now Earn Additional Rewards via Singularity Protocol

rETH Holders Can Now Earn Additional Rewards via Singularity Protocol

Singularity, a non-custodial, compliant confidential DeFi protocol backed by Gumi Cryptos Capital and Nomura’s Laser Digital, enables users to access existing DeFi liquidity while maintaining wallet confidentiality and has now officially integrated with Rocket Pool and supports rETH.

Singularity will allow rETH holders to deposit, lock, and mint a wrapped version called sgrETH (Singularity rETH).

Users can earn rewards based on the amount and duration locked, ultimately benefiting participants by increasing the TVL, which enhances obfuscation for all users.

How does this add value for Rocket Pool rETH holders?

‍Increased Liquidity and Utility: By locking rETH and minting sgrETH, rETH holders can earn point rewards via Singularity.

‍Additional rewards for rETH holders: rETH holders who participate in our campaign will continue to receive rETH returns, reward points from Singularity, and the opportunity for additional liquidity via sgrETH-supported DeFi partners in the future.

‍How does it work?

Participating is straightforward, all you need to do is obtain sgrETH via Singularity.

You can follow the steps below:

1. KYC/KYB Compliance: To interact directly with Singularity, users must pass Know Your Customer (KYC) or Know Your Business (KYB) verification through Singularity’s compliance partners.
2. Deposit and Lock: Under the Compliant Staking tab, users will be prompted to deposit rETH, lock them, and mint sgrETH (Singularity Rocket Pool ETH, which is the wrapped version of rETH).

• For instance, depositing 10 rETH allows you to lock the 10 rETH and mint 10 sgrETH, backed 1:1 and verifiable on the blockchain.
• A more detailed guide can be accessed here.

Important considerations:

• The longer you hold sgrETH and the more you hold the more you will earn.
• Holders of sgrETH will receive reward points for contributing to the liquidity and increased obfuscation of users’ on-chain actions within Singularity.
• Via Singularity’s partnership network, sgrETH will be supported by a variety of DeFi protocols to provide additional liquidity to sgToken holders, so stay tuned.

Singularity is excited to support rETH and looks forward to providing reward points to rETH holders who boost our TVL and improve obfuscation for all users.

Please go here to see our detailed step-by-step guide on how to participate.

About Singularity:

Singularity is a compliant institutional DeFi access layer that provides access to popular protocols for institutional on-chain participants with commercial confidentiality. Users will have their wallet addresses obfuscated while leveraging existing DeFi liquidity. Singularity uses the state-of-the-art UltraPLONK proof system with zero-knowledge circuits based on Noir.

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