Liquid Staking · RPL · $1.5B TVL. Rocket Pool is the conscience of liquid staking: the most credibly decentralized major LST, with permissionless node operators and a governance culture that takes its own ideals seriously. The screen scores a protocol whose values are its moat — and its constraint.
Solvency screens at A. Negligible unlocks, moderate drawdown, mature risk posture (8/10) across years of incident-free operation. The sustainability ratio (~1.5x) is the softer input — decentralization has costs, and Rocket Pool's economics are structurally thinner than Lido's scale allows.
Legitimacy screens at AA, among the best in the universe: deep audits, a veteran public team, delivery through multiple protocol upgrades (Saturn on deck at snapshot), and 7/10 governance that is genuinely contested rather than performative. This is what the framework wants Legitimacy to look like.
Growth screens at B, and it is the whole story: ~8% category share, 30% TVL decline, weak momentum as capital chased restaking yields Rocket Pool deliberately declined to chase. Principled positioning, punished trajectory.
Composite B, growth-capped. The screen's read: the highest-integrity design in its category with the weakest commercial momentum. A full rating would weigh whether Saturn's economics reforms can close the gap Lido and the LRTs opened.
"A chain is as strong as its weakest link." The conservative composite takes the weakest dimension and inherits any notching cap, so a single structural weakness cannot be diluted by strength elsewhere.
