[FSVP-1] rsETH Smart Vault for Kelp Miles & Eigenlayer Points

  • Yes
  • No
0 voters

Summary & Links

Smart Vault Details

Protocol Description:

Kelp DAO was founded by Amitej G and Dheeraj B, who have previously founded Stader Labs, a multichain liquid staking platform with $350M+ in TVL. The team is focused on building Liquid Restaking Solutions for public blockchain networks. The Kelp DAO team is currently building an LRT solution, rsETH, on EigenLayer for Ethereum.

rsETH is a Liquid Restaked Token (LRT) issued by Kelp DAO designed to offer liquidity to illiquid assets deposited into restaking platforms, such as EigenLayer. It aims to address the risks and challenges posed by the current offering of restaking.

Strategy Description:

  1. ETH deposits are used to mint ETHx on Stader

  2. ETHx is used to mint rsETH on Kelp

  3. rsETH earns Kelp Miles & Eigenlayer Points

Vault shares to be used as receipt of deposits to track miles and points. User redeems vault share for rsETH.

Value proposition

Guarantee rsETH deposits are routed through Stader ETHx instead of other LSTs. Earn oVCX rewards on top of EL, KM, ETH yield, and AVS rewards. Easier path for users to get rsETH.


KelpDAO to implement the vault on Kelp.


(insert rocket emojis here)

I was wondering when you guys would hop onto the restaking bandwagon!

Are you launching the vault on the 29th? And can I’ll be able to zap my ETH?

Would have to be stupid not to approve this. Is there any plans to launch a vault with the other restaking providers? Etherfi?

So all I will need is my ETH to deposit?

Would be open to it, do you happen to know anyone from the team?

Yes, plan would be to have the vault live before EL caps re-open on the 29th
Yes, you can deposit ETH, or any bluechip asset that will be zapped into ETH to start the flow

Correct. Or any blue chip that will be zapped into ETH. Similar to the other vaults: