Currently, the total value locked (TVL) of Kelp DAO has exceeded $750 million and is heading towards $1 billion. For all users who have restaked through Kelp, there will be more opportunities for earnings. Kelp DAO has announced the launch of the "Road to One Billion" campaign, which will provide additional EigenLayer points incentives for restakers.

In addition to Kelp Miles (Kelp's own point system directly related to underlying rewards) and EigenLayer points accumulated through restaking, Kelp DAO will provide an additional 5 million EigenLayer points specifically to reward all restakers.

During the campaign, users will receive additional EigenLayer points for each new deposit of 1 ETH to Kelp. The total limit for the campaign is 70,000 ETH, with an additional reward of 100 EigenLayer points/ETH for the first 30,000 ETH and 50 EigenLayer points/ETH for the subsequent 40,000 ETH. Details of the rules can be found below.

Starting from 8:00 PT on April 2, 2024 (16:40 UTC), all newly deposited ETH through Kelp will be eligible for these rewards. The campaign will last for a maximum of 30 days, and if the limit of 70,000 ETH is reached within 30 days, the campaign 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 Layer2 (Arbitrum and Blast). rsETH obtained through exchanges will not qualify for additional incentives.

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

• EigenLayer points earned by Kelp can also be tokenized and withdrawn in the form of KEP. KEP is the token representation of EigenLayer points, and through KEP, EigenLayer points will be given liquidity and can be freely transferred or traded. Users can leverage KEP to invest their EigenLayer points in various DeFi activities.

• rsETH has been widely integrated into the DeFi ecosystem, and you can use rsETH in decentralized exchanges (DEX) and yield aggregators on the mainnet and Layer2. For a detailed list of DeFi integrations for rsETH, please refer to this link.

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About Kelp

Kelp is a leading liquidity restaking protocol with a total locked value (TVL) of over $750 million and over 25,000 restaking users. Through Kelp, users can enjoy restaking rewards and underlying staking rewards, and can use reETH and KEP in over 20 DeFi protocols.

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

• Convenience: Help restaking users simplify the cumbersome work of node and AVS selection.

• Gas Savings: Manage high gas fees for claiming and redeeming rewards.

• Risk-adjusted: Ensure that restaking users can obtain optimized rewards through the AVS filtering framework.

• Native restaking on Layer2: Deployed on Arbitrum, Manta, Blast, and will be integrated into more Layer2 in the future. More platforms to join.

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