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Kelp DAO
- Medium
- OTHER
Kelp DAO
Kelp DAO's main objective is the creation of Liquid Restaking Solutions (LRS) for public blockchain networks. As a platform for liquid staking, the group is now working on rsETH, an LRS for Ethereum on EigenLayer. The goal of Kelp DAO's Liquid Restaked Token (LRT), rsETH, is to give illiquid assets on restaking platforms like EigenLayer some liquidity. It functions by enabling restakers to represent fractional ownership of underlying assets by staking their LST to mint rsETH tokens. Restakers can leverage their rsETH tokens in DeFi, trade them for immediate liquidity, or redeem underlying assets when rewards from various services accrue to rsETH contracts. Kelp DAO allows free ETHx, sfrxETH, and stETH deposits on their dApp and does not charge fees on LST deposits.
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- Difficulty level : Medium
- Capital is required
- Backed by 3 investors
- Investment raised: USD 9 Million
Please do your own research.