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xRPL is an RPL liquid staking token which grows in value against RPL based on the rate of the Rocket Pool protocol's native RPL emissions |
xRPL automatically receives rewards based on the underlying RPL emissions from Rocket Pool. To learn more about how Rocket Pool works and the role of RPL, please see the Rocket Pool documentation.
Note that the issuer of xRPL may take a portion of these emissions, so make sure to check with the owner of the Constellation instance you are using to understand their fee structure.
Like xrETH, xRPL uses the cToken model made famous by Compound, where the protocol's exchange rate for xRPL adjusts over time with the value of earned rewards. This model is more gas efficient than a rebasing token, and it may offer tax advantages to users in certain jurisdictions.