Kelp launches new "Road to Billions" event, offering 5 million EigenLayer points rewards

Currently, the total locked value (TVL) of Kelp DAO has exceeded US$750 million and is heading towards US$1 billion. For all users who have re-staking through Kelp, there will be more income opportunities - Kelp DAO has announced that it will launch the Road to One Billion event, which will provide new opportunities for re-staking users. (restakers) Provide additional EigenLayer point incentives.

Next, in addition to Kelp Miles (Kelps own points system, directly related to the underlying rewards) and EigenLayer points accumulated through re-staking, Kelp DAO will also provide an additional 5 million EigenLayer points to re-staking users, specifically rewarding all Replenish users.

During the event, users can receive additional EigenLayer points as rewards for every new ETH they deposit into Kelp. The total limit of the activity is 70,000 ETH, of which the additional reward corresponding to the first 30,000 ETH is 100 EigenLayer points/ETH, and the additional reward corresponding to the last 40,000 ETH is 50 EigenLayer points/ETH. Details of the rules can be found below.

Starting from 8:00 PT on April 2, 2024 (16:40 UTC), all new ETH deposited through Kelp will be eligible for these rewards. The event will last for up to 30 days. If the limit of 70,000 ETH is reached within 30 days, the event will end early.

It is important to note that this reward mechanism only applies to rsETH (Kelp’s LRT) minted on the Ethereum mainnet or Layer 2 (Arbitrum and Blast). rsETH earned through exchanges will not be eligible for additional incentives.

Why should users hold rsETH (Kelp’s LRT)?

• EigenLayer points earned by Kelp can also be tokenized and used asKEPThe form is taken out. KEP is the token representation of EigenLayer points. Through KEP, EigenLayer points will be given liquidity and can be freely transferred or traded. Users can borrow KEP to invest their EigenLayer points in various DeFi activities.

• rsETH has been widely integrated in the DeFi ecosystem, and you can use rsETH in decentralized exchanges (DEX), revenue aggregators and other projects on the main network and Layer 2. For a detailed DeFi integration list of rsETH, please refer tothis link。

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About Kelp

Kelp is the industrys leading liquidity re-staking protocol, with a total locked value (TVL) of over US$750 million and over 25,000 re-staking users. Through Kelp, users can enjoy re-staking rewards and basic staking rewards, and can use reETH and KEP in more than 20 DeFi protocols.

• DeFi rewards:Earn additional DeFi rewards by providing liquidity for restaking tokens.

• Convenience:Help re-staking users simplify the tedious work of node and AVS selection.

• Save Gas:Manage high gas costs to claim and redeem rewards.

• Risk-adjusted:Through the AVS screening framework, it is ensured that re-staking users can receive optimized rewards.

• Native re-staking on Layer 2:It has been deployed to Arbitrum, Manta, and Blast, and will be integrated to more Layer 2 in the future. More platforms are added.