[PRESS RELEASE – Dubai, UAE, August 13th, 2024]
Kelp DAO, a liquid restaking platform is launching the ‘Kelp Gain Vaults’ Program. The program enhances earning potential of airdrops and rewards for restakers and users, being the first project giving access to multiple Layer 2 airdrops in a single, diversified strategy.
Kelp Gain allows users to benefit from streamlined access to diverse rewards strategies through a single click. The program will initially feature the Airdrop Gain Vault, a specialized vault that simplifies participation in airdrop opportunities across various L2 protocols, without managing individual positions.
The vaults leverage smart contracts to manage asset deployments and maximize airdrops and rewards. Users deposit assets into the vault and receive a synthetic token in return. These assets are then allocated to curated reward opportunities, with periodic adjustments made by the vault’s strategy manager to optimize returns and mitigate risks. This approach provides comprehensive access to L2 airdrops and also utilizes the composability of DeFi with synthetic token.
“The Kelp Gain Vault is a leap forward in user experience, reward optimization and leveraging DeFi composability,” said Amitej G, Co-founder of Kelp DAO. “By focusing on targeted strategies and integrating with both L2 protocols and mainnet DeFi yields, we are providing users with a comprehensive, automated solution to maximize rewards potential. This collaboration with our range of partners ensures users benefit from streamlined access to high-growth opportunities with minimal effort.”
The Airdrop Gain Vault lets users deposit assets like ETH or rsETH, which are then bridged to partner L2s to enhance airdrop potential. The vault also integrates with mainnet DeFi yields, allowing users to engage in multiple DeFi strategies via a single synthetic token, agETH. Additionally, users can further enhance yields with the synthetic reward bearing token that can be deployed on Pendle and other DeFi protocols for earning fixed yields, and speculating on airdrops by earning multi-fold points.
The vault is being launched in partnership with August, an institutional grade platform for crypto, developing the smart contract infrastructure, and Tulipa Capital acting as the lead strategy partner for the Airdrop Gain Vault, with L2/ DeFi partners including Linea, Karak, Scroll, Pendle, Across, LZ, Pendle, Spectra, Lyra and several DEXs. The launch of Kelp Gain marks an industry wide progression toward automated reward management and investment strategies.
To access the vault, click this link.
About Kelp DAO:
Kelp DAO is one of the leading liquid restaking protocols—having crossed $1 billion in TVL in June 2024—with 250k+ ETH under management across 45,000 restakers. Their liquid restaked token (LRT) was the first to hit the Ethereum mainnet and pioneered liquid restaking with liquid staking tokens. Currently, Kelp DAO facilitates liquid restaking for native ETH and LSTs alike across Ethereum mainnet and 8 L2 networks.
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