Setting up a Rocketpool Node
DAppThis tutorial will walk you through the initial setup of the Rocketpool Node. This process only needs to be done once. Once your node is set up, you can proceed to add one or more minipools to the node.
Before you begin
Set up your ETH Clients. In order to proceed with Rocketpool onboarding, you need to have a fully synced Ethereum node. This includes an Execution Client and a Consensus Client (Beacon Chain and Validator). Please refer to Setting up the ETH Clients for detailed instructions.
Set up MEV-Boost. MEV-Boost offers the potential for higher block reward and is beneficial to both the node operator and rETH stakers. It is highly recommended to set up MEV-Boost. See Setting up MEV-Boost for detailed instructions.
Use a browser with a connected wallet. For best experience, it is recommended to use a desktop or laptop computer with Metamask installed as a browser-extension wallet. If you have a hardware wallet such as Trezor or Ledger, connect your hardware wallet to Metamask. You can find instructions on how to do this here. Please be assured that connecting your hardware wallet through Metamask is a safe operation, because your private keys remain secured only in your hardware wallet and you are not relying on Metamask to manage your keys.
Make sure you have sufficient funds in your wallet:
8 or 16 ETH for each minipool you plan to stake.
Some ETH for gas fees. Experience shows that 0.4 ETH is a good start.
A minimum of RPL tokens that is worth 2.4 ETH (for 8 ETH minipools) or 1.6 ETH (for 16 ETH pools). Since the price of RPL relative to ETH fluctuates, you will need to do some calculations. The AVADO Rocketpool UI will provide some hints. It is advisable to prepare a slightly larger amount of RPL tokens as a buffer.
Install AVADO Rocketpool DApp
Navigate to the DappStore and locate the DApp named Rocketpool Staking and click Install.
Tell Rocketpool which ETH Clients you're using
Once installed, click Manage Package to go to the DApp's Management Page, then scroll down to the Environment variables panel.
Set the values of these variables to match with your installed Clients:
EXECUTIONCLIENT:gethornethermindCONSENSUSCLIENT:teku,prysm, ornimbus
Use small letters or it will not work!
If you changed any of the settings, click Update environment variables
Onboarding Wizard
AVADO Rocketpool DApp provides an onboarding wizard to guide you through the setup process. To access the wizard, click Open on the Home Page to open the Rocketpool Staking DApp. You will be greeted with the Welcome screen.
The wizard will verify if you have installed the ETH Clients (Execution Client and Consensus Client) and if they are fully synced. You can also confirm your sync status in the upper-right corner.
The wizard will remind you about the required amount of ETH and RPL funds. The reference minimum RPL stake mentioned is for a 16 ETH pool. If you plan to stake an 8 ETH pool, you will need more RPL. You can manually perform some calculations to determine the appropriate amount of RPL tokens.
If all the necessary requirements are met, click Start setup to begin the onboarding wizard.
Access the menu bar on phone or tablet
If you are viewing the AVADO Rocketpool DApp on the desktop, you can see the menu bar with these items: Welcome, Setup, Status, Rewards, and on the far right-hand side, Admin.
If you are using a phone or tablet, or a browser with a narrow window, the menu may be "hidden". Look for a button that has three horizontal lines on the right-hand side of the screen. Click to expand it. The expanded sub-menu will be on the left-hand side of the screen (you may need to scroll across to see it).
Step 1: Initialize the Hot Wallet
The Hot Wallet (also called the Node Wallet) is an Ethereum address that will hold your node's funds temporarily. It will use this to send ETH to your minipool when you begin staking, and pay for gas during various transactions.
Rocketpool will create this wallet for you. The Hot Wallet address will be your Node Address.
Enter a secure password (at least 12 characters). Then click Init Wallet.
In the next screen, you will be shown your Hot Wallet address. Take note of this address.
You will also be prompted to download a backup of your wallet. This step is crucial as the Backup File contains all the information necessary to recreate your node if needed, including the 24-word secret recovery phrase and the wallet password which you have just entered.
Depending on your browser, the rocket-pool-backup.zip file will usually be downloaded to your designated "Download" folder on your computer. If your browser, such as Chrome, displays a warning and blocks the file as an "insecure download," click on "Keep" to allow the download.
Keep the Backup File Safe!
It is of utmost importance to keep the Backup File safe and secure! Losing this file could result in losing access to your node and validators.
Remember, anyone who possesses this Backup File can gain control of your wallet. Therefore, handle the backup with utmost care to prevent theft or unauthorized access.
Click continue to next step when you are ready.
Step 2: Fund the Node
Consider the Gas Fee
The upcoming steps are on-chain transactions. It is advisable to wait for a quiet period on the Ethereum network when gas fees are lower. This will significantly reduce the total gas cost associated with on-chain transactions during these steps.
To determine the current gas price, you can check the information provided in the top-right corner of the screen. Alternatively, you can visit websites like Ethereum Gas Tracker on etherscan.io which provide real-time updates on gas prices.
On the next screen, you will receive instructions to send the required amounts of ETH and RPL to the Hot Wallet that you have just created. The specific amounts to send depend on whether you are setting up an 8 ETH or 16 ETH minipool.
For an 8 ETH minipool, you need to send 8.4 ETH to the Hot Wallet.
For a 16 ETH minipool, you need to send 16.4 ETH to the Hot Wallet.
These amounts include a recommended 0.4 ETH for gas fees.
In addition to the ETH amount, you are also required to send at least a minimum amount of RPL tokens. The exact value of RPL tokens needed is equivalent to 2.4 ETH worth of RPL for an 8 ETH minipool, and 1.6 ETH worth of RPL for a 16 ETH minipool. The amount of RPL tokens is subject to the current relative prices of RPL and ETH.
RPL tokens are required as collateral and to earn rewards for running minipools. The more RPL you stake, the higher your potential earnings. Please note that all RPL sent to this wallet will be used as your stake later, so make sure to send the exact desired amount.
To ensure a smooth process, it is recommended to prepare a slightly larger amount of RPL tokens as a buffer.
Hit Refresh balances to update the balance of crypto sent to your address.
The wizard will advance to the next step once the necessary funds have arrived in your wallet.
Step 3: Register the Rocketpool Node
To register your node on Rocketpool, click Register Node and wait for the transaction to finish.
Click Transaction details on Etherscan to see the transaction on etherscan.io
Step 4: Set a Rocketpool Withdrawal Address
Next, you need to set a Withdrawal Address for your Rocketpool node. This Ethereum address will be used for receiving all RPL and Smoothing Pool rewards, as well as the ETH and RPL stake during your final withdrawal. Ensure that you have control over this address, preferably using a secure wallet address such as a hardware wallet. Do not use an exchange address.
Ensure that you securely store the secret recovery phrase associated with this address to prevent any loss of access to your funds.
Take the time to verify that you have entered the correct Withdrawal Address. Once you are confident, click Set withdrawal address and wait for the on-chain transaction to complete.
Step 5: Join Smoothing Pool
The Smoothing Pool is a unique feature of Rocketpool staking. It is a mechanism to collect and accumulate the block rewards of all participants, and smooth out the payment fairly and regularly. The Smoothing Pool serves to effectively eliminate the randomness associated with being selected for block proposals.
Click Join to join the Smoothing Pool, and wait for the on-chain transaction to finish.
Note: Minipools that were created before the “Redstone release” (Aug 2022) need an extra step to initialize the Fee Distributor before they can add additional minipools. The wizard will automatically skip this step for most users.
Next Step
Congratulations! You have now set up and initialized your Rocketpool node. The next step is to add one or more minipools and start staking.
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