🌊 Unveiling the Liquid Revolution: Exploring Kelp DAO's rsETH Ecosystem 🚀
Introduction
🌐 Kelp DAO Overview:
Dive into the world of Kelp DAO, crafted by visionaries Amitej G and Dheeraj B, creators of the $350M+ TVL powerhouse, Stader Labs. Focused on Liquid Restaking Solutions, Kelp DAO introduces rsETH, a groundbreaking LRT solution on EigenLayer for Ethereum.
🚀 What is rsETH?
Meet rsETH, the Liquid Restaked Token (LRT) by Kelp DAO. This innovative token injects liquidity into traditionally illiquid assets staked in platforms like EigenLayer, addressing challenges in existing restaking solutions.
💡 How rsETH Works?
Unravel the mechanics! Restakers stake their LST to mint rsETH tokens, symbolizing fractional ownership. Discover how rewards flow in from services, influencing rsETH token prices. Swap for instant liquidity or redeem assets through rsETH contracts. The DeFi potential is limitless!
Benefits of rsETH
For Restakers:
💧 Provide liquidity to restaked ETH/LST
💼 Save effort in identifying services
📊 Manage rewards efficiently
For AVSs:
💪 Save effort, partner with Operators
🔐 Bootstrap security effortlessly
🌱 Contribute to emission reduction
For Operators:
💼 Identify right services with ease
📉 Streamline restaker and asset efforts
📊 Efficiently manage restaking rewards
💸 Fees for rsETH:
Enjoy freedom! Kelp DAO imposes zero fees on LST deposits. Deposit ETHx, sfrxETH, and stETH on the Kelp dApp without charges.
Technical Architecture
🔐 Secure Foundations:
rsETH smart contracts isolate deposits, delegations, and withdrawals, minimizing risk. Explore vital modules like Restaker deposits, Node Delegator Contracts, Strategies, and upcoming unstake/withdrawal features.
🏗️ Other Modules:
Discover Registry, Oracle, Governance, and Reward Market modules, shaping the backbone for optimizing risk and utility token rewards.
rsETH Smart Contracts
🚀 Pivotal Blocks:
The rsETH smart contracts form the backbone of Kelp protocol. Mainnet and Goerli contracts, including rsETH, LRT Deposit Pool, LRT Oracle, Chainlink Price Oracle, and EthX Price Oracle, are the keys to the kingdom.
Upcoming Changes
🔄 Evolution Approaches:
Admin transitions to 3 out of 5 external multi-sig scheme. Timelock guards the front of upgradable contracts.
Audits
🛡️ Bulletproof Security:
Kelp - rsETH undergoes rigorous audits by industry leaders SigmaPrime and Code4rena. Check out the detailed audit reports for peace of mind.
Explore rsETH Resources
📚 Dive into Knowledge:
Visit the rsETH Lite Paper, explore the Restaking dApp, read insightful Blogs, and join the conversation on Twitter, Discord, and Telegram.
Kelp Miles & EigenLayer Points
🌐 Navigating Contributions:
Unlock the mystery of Kelp Miles: (ETH value of LST) * (Days) * 10,000. Boosted Miles reward early participants for the next 3 months!
Referral Program
🌐 Spread the Waves:
Join the referral program in 2 simple steps: Connect your wallet and share your referral link. Earn 10% extra Kelp Miles and rewards for successful referrals.
🚫 Terms and Conditions:
Avoid pitfalls! Prohibited actions include multiple reward generation, using referral links for self-rewards, and referring fake accounts.
Conclusion
🌊 Riding the Wave:
In conclusion, rsETH by Kelp DAO introduces a wave of liquidity to restaking, creating a seamless experience for users, AVSs, and Operators. With ongoing audits and promising upgrades, Kelp DAO sets sail towards a liquid revolution. Explore the ecosystem, embrace the benefits, and ride the wave of the future with rsETH! 🚢💙
