Saturn I, ushering in the RPL new era… Alea Research analyzes the upgrade effects

Saturn One has been released for two weeks. According to Alea Research, Saturn One is the latest upgrade from Rocket Pool, activating the fee switch and enabling RPL stakers to earn ETH-denominated value rights. This upgrade reduces operator collateral to 4 ETH, introduces the Megapool, and enables a portion of lending ETH fees to be routed to voting RPL for revenue sharing. This improves operational efficiency and transforms the system to accommodate more validators.

RPL has shifted from relying on inflation rewards to generating assets based on ETH cash flow. Especially after lowering validator collateral to 4 ETH, the Megapool allows more validators to participate, maximizing capital efficiency. The Saturn One release focuses on improving the protocol’s overall economic structure and providing RPL stakers with specific yield rights.

According to Alea Research, compared to UNI’s revenue sharing, these changes are expected to enhance the competitiveness of ETH staking fees and attract more participants. With the introduction of the new revenue distribution system—Universal Adjustable Revenue Share (UARS)—the fee flows between node operators and RPL stakers will be rebalanced, maintaining a stable rETH yield. This upgrade also helps improve the market price stability and liquidity of rETH, providing a buffer against market shocks.

Additionally, Saturn One clarifies RPL’s role, enabling it to appeal to a broader buyer base. This strengthens RPL’s value as a store of value and links governance decisions on profit distribution directly to protocol performance. A typical example is that rewards from lending ETH via the Megapool are converted into RPL staking rewards, making governance roles more significant.

Key: The main change related to RPL is the gradual phase-out of the inflation reward system, adjusting the inflation rate to 1.5%, with most earnings directed to the DAO. This reduces selling pressure on RPL and promotes a shift toward a lending ETH-based growth model. The report notes that these changes require mature governance structures and will aim to provide long-term profitability for RPL holders.

Saturn One clarifies that RPL is no longer just an inflationary token but a reliable ETH fee entitlement, offering a new valuation opportunity in the market. Alea Research believes these changes will enhance Rocket Pool’s growth and stability.