Summary
This proposal seeks to whitelist the Kelp aggregator and silo on the Sturdy UI for Mode L2.
About rsETH & Kelp
Kelp DAO is a decentralized, non-custodial liquid staking protocol built on Ethereum and 6 L2s including Mode, Arbitrum, OP, and Blast. It allows users to restake their ETH and LSTs (stETH, ETHx, and sfrxETH) and participate in the DeFi ecosystem with the help of rsETH. Kelp’s rsETH is a liquid restaking token that represents the underlying assets restaked with EigenLayer. Users can deposit ETH or the supported LSTs on the Kelp dApp on Ethereum Mainnet and L2s to mint rsETH, hold rsETH to accrue rewards, and use rsETH within DeFi or swap it back to any underlying asset at any time via the liquidity pool.
TVL: $800 Mn+
ETH Restaked: 234k
Number of users: 18k+
Assets Supported: ETH, stETH, ETHx, sfrxETH
Silos
Kelp proposes to add the following to the Sturdy UI.
Network: Mode
Lending/borrowing asset: WETH
Collateral asset: wrsETH
LTV: 90%
Liquidation fee: 3%