wrsETH<>WETH Incentives Gauge

Protocol/Project Name

KelpDAO

Protocol Overview

KelpDAO (Liquid restaking | Restake ETH or LSTs, mint rsETH and earn Kelp Miles!) is one of the largest liquid restaking protocol built on top of the Eigen Layer. Restakers on Kelp get access to multiple benefits like restaking rewards, staking rewards, and DeFi yields.

Latest stats:

  • USD $2Bn+ (~493k Eth) TVL
  • 250K restakers onboarded
  • Live across mainnet and 9 L2s such as Mode, Base, Arbitrum, Optimism, Scroll, Linea etc.
  • Bridging of rsETH across L2s is facilitated by infrastructure by LayerZero
  • KelpDAO has undergone multiple security audits by top-tier audit firms including Sigma Prime, Code4rena, and MixBytes. More about KelpDAO’s security here: Kelp DAO Audit reports

Incentive Impact Statement

Incentivizing the wrsETH-WETH pool will boost liquidity for one of Kim’s key LRT pairs, providing users on Mode with reduced slippage and enhanced passive yield. This pool plays a vital role in maintaining wrsETH liquidity on the Mode L2 and supports improved lending market parameters.

Contribution to the Kim Ecosystem

The wrsETH-WETH pool is a pivotal component of the Kim Exchange, playing a significant role in maintaining LRT liquidity on-chain. Providing incentives for this pool improves trading efficiency, draws in more restakers, and bolsters Kim’s ecosystem by ensuring a strong and liquid marketplace across multiple chains.

Additional Information (Optional)

Co-Incentivization Plans

KelpDAO will be providing Boosted Kelp Miles and a major portion of token incentives from Mode’s seasons. This should help build liquidity and provide enhanced yields for users onchain.

Community Initiatives

KelpDAO will work with the Kim team in setting up community campaigns in the coming months to amplify the incentives and opportunities across relevant communities.

Contact Information

Email: aditya@kelpdao.xyz
Telegram: @Hedged_Adi
Discord: KelpDAO’s Discord
Twitter: x.com

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