Summary
This proposal seeks to whitelist the Kelp aggregator and silos on the Sturdy UI.
About rsETH & Kelp
Kelp DAO is a decentralized, non-custodial liquid staking protocol built on Ethereum. 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 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: $750 Mn+
ETH Restaked: 190k
Number of users: 18k+
Assets Supported: ETH, stETH, ETHx, sfrxETH
Silos
Kelp proposes to add the following to the Sturdy UI.
Silo 1
Network: Ethereum Mainnet
Lending/borrowing asset: WETH
Collateral asset: rsETH
LTV: 90%
Liquidation fee: 3%
Silo 2
Network: Ethereum Mainnet
Lending/borrowing asset: WETH
Collateral asset: PT-rsETH (generated on Pendle)
LTV: 85%
Liquidation fee: 5%
Aggregator
Lending asset: WETH
Initial whitelisted silos: rsETH, PT-rsETH