Rocket Pool approves RPIP-81 inflation and funding rebalance

What happened

Rocket Pool governance approved RPIP-81, which reallocates RPL inflation toward protocol funding before Saturn 2 and changes inflation and allocations after Saturn 2.

What changed

The approved policy reduces the pre-Saturn-2 node-operator allocation from 70% to 50%, raises pDAO's share to 47.5%, and calls for 2.5% annual inflation with 95% of rewards to pDAO after Saturn 2.

What did not change

The Snapshot vote did not itself execute the required on-chain pDAO parameter change or establish that Saturn 2 had launched.

Confirmed

• The vote closed on June 19 with the required outcome and approximately 11,734.6 RPL voting for versus 99.7 against.
• The pre-Saturn-2 target allocation is 50% node operators, 47.5% pDAO, and 2.5% oDAO.
• The post-Saturn-2 target removes node-operator RPL rewards and allocates 95% to pDAO and 5% to oDAO.
• The internal pDAO policy is set at 30% IMC, 40% GMC, and 30% reserve treasury.

Still open

• On-chain implementation timing and final Saturn 2 activation remain unresolved.
• The realized effect on node-operator participation and protocol decentralization is not yet established.

What it means for an advisor

• Review whether reduced node-operator incentives affect operator retention or decentralization evidence supporting rETH.
• Separate RPL tokenomics changes from rETH backing and redemption mechanics, which the proposal does not directly change.
• Verify on-chain implementation and monitor active operator count after the incentive transition.