What is RPL token used for?

Spot trading on BTCC allows users to buy and sell cryptocurrencies at the current market price. Futures trading, on the other hand, offers users the ability to speculate on the future price of cryptocurrencies, providing an additional layer of trading strategies and potential profit opportunities.

The Rocket Pool Token, abbreviated as RPL, holds a pivotal role within the protocol. It serves as the governance token, empowering the community to actively participate in shaping the protocol's future. This token provides a voice to the stakeholders, allowing them to influence decisions regarding the protocol's evolution and operational framework.

RPL plays a dual function within the Rocket Pool ecosystem. Beyond its governance capabilities, it is also essential for node operators. Node operators are individuals or entities that participate in the network by validating transactions and ensuring the network's integrity.

To operate a node on the Rocket Pool network, node operators must use RPL as collateral. This requirement ensures that node operators have skin in the game, incentivizing them to act responsibly and maintain the network's security and stability. The collateral system also acts as a safeguard against malicious actors who might attempt to disrupt the network.

BTCC is a prominent cryptocurrency exchange that offers a comprehensive range of services. Its suite of offerings includes spot trading, futures trading, and wallet services. These services cater to the diverse needs of the cryptocurrency community, providing users with flexible and secure options for buying, selling, and storing digital assets.