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Kelp DAO

Kelp DAO  

224 Watchlists

DeFi

Status

Kelp is part of the Kernel DAO and is managed by the KERNEL token. Token page Kernel (KERNEL): https://cryptorank.io/price/kernel.

General Info

Funds and Backers

Description

Kelp DAO is a Liquid Restaking Solutions for blockchain networks.

What is Kelp DAO?

Kelp DAO is a liquid staking platform. It focuses on creating Liquid Restaking Solutions (LRS) for public blockchain networks. The team is currently developing an LRS, rsETH, on EigenLayer for Ethereum. rsETH, a Liquid Restaked Token (LRT) by Kelp DAO, aims to provide liquidity to illiquid assets in restaking platforms like EigenLayer. It operates by allowing restakers to stake their LST to mint rsETH tokens, symbolizing fractional ownership of underlying assets. Rewards from various services accrue to rsETH contracts, and restakers can leverage their rsETH tokens in DeFi or exchange them for instant liquidity or redeem underlying assets. Kelp DAO doesn't impose fees on LST deposits, allowing free ETHx, sfrxETH, and stETH deposits on their dApp.

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