Original source: Kelp DAO

Kelp DAO's current TVL (total locked value) has exceeded US$750 million and is striving to reach the US$1 billion mark. In order to allow all participating restakers to obtain more generous returns, Kelp has specially launched the "Road to One Billion" event to incentivize restakers through additional EigenLayer Points.

In addition to the Kelp Miles (Kelp's own points system directly related to the basic rewards) and EigenLayer Points that can be obtained by restaking, Kelp also provides an additional 5 million EigenLayer Points for restakers.

For every ETH deposited in Kelp, you will receive 100 extra EL Points, in addition to the regular EL Points. This offer is only available for the first 30,000 ETH deposited. See below for details.

Starting at 8AM Pacific Time (4:30PM UTC) on April 2, 2024, all new ETH deposits in Kelp are eligible for these rewards. The offer lasts for 30 days, or until 70,000 new ETH is deposited (whichever comes first).

These rewards are only available for rsETH (Kelp’s LRT) minted on Ethereum mainnet or L2 (Arbitrum and Blast). rsETH obtained through trading cannot obtain these 5 million EigenLayer Points.

Why hold rsETH (LRT for Kelp)?

EigenLayer Points earned by Kelp can also be tokenized and claimed as KEP . KEP is the first token of its kind, making EigenLayer Points highly liquid and available for DeFi participation. It can be freely transferred, traded, and redeemed.

rsETH can participate in DeFi extensively, covering DEX on mainnet and L2, reward optimizer, machine gun pool, etc. A full list of DeFi opportunities and partners can be found here.

About Kelp

Kelp is a leading liquidity staking protocol with total locked value More than 750 million US dollars, attracting more than 25,000 users to participate in staking. On the Kelp platform, users can not only obtain restaking rewards and staking rewards, but also enjoy more than 20 DeFi applications on the Ethereum mainnet and Layer 2 network (L2), and more partners will join in the future.

・DeFi Rewards: Earn additional DeFi rewards by providing liquidity for restaked tokens.

・Easy to use: Simplifying the complex process of selecting node operators and AVS partners for users.

・Save gas costs: Properly manage the high gas costs incurred during the process of receiving and redeeming rewards.

・Risk-adjusted rewards: The AVS selection framework ensures restaked assets receive optimal rewards.

・Native restaking on L2: Already available on Arbitrum, Manta, and Blast, and more L2 will be supported in the future.

This article is from a submission and does not represent the views of BlockBeats.

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