Dubai, UAE, August 13th, 2024, Chainwire

Kelp DAO, a liquid restaking platform, is launching the Kelp Gain Vaults Program. This program enhances the earning potential of airdrops and rewards for restakers and users, being the first project to offer access to multiple Layer 2 airdrops in a single, diversified strategy.

Kelp Gain Program

Kelp Gain allows users easy access to various rewards strategies through a single click. Initially, it will feature the Airdrop Gain Vault, a specialized vault that simplifies participation in airdrop opportunities across various Layer 2 protocols without the need for users to manage individual positions themselves.

Smart Contract Utilization

The vaults utilize smart contracts to manage asset deployments, maximizing airdrops and rewards. Users deposit assets into the vault and receive a synthetic token in return. These assets are allocated to curated reward opportunities, with periodic adjustments made by the vault’s strategy manager to optimize returns and mitigate risks. This method grants comprehensive access to Layer 2 airdrops and utilizes DeFi composability with synthetic tokens.

“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 provide users with a comprehensive, automated solution to maximize reward potential. This collaboration ensures users benefit from streamlined access to high-growth opportunities with minimal effort.”

Features of the Airdrop Gain Vault

The Airdrop Gain Vault allows users to deposit assets like ETH or rsETH, which are then bridged to partner Layer 2s to boost airdrop potential. The vault also integrates with mainnet DeFi yields, enabling users to participate in multiple DeFi strategies via a single synthetic token, agETH. Further, users can enhance yields with a synthetic reward-bearing token that can be deployed on Pendle and other DeFi protocols to earn fixed yields and speculate on airdrops while earning multi-fold points.

Partnerships

The vault is launched in partnership with August, an institutional-grade crypto platform developing smart contract infrastructure, and Tulipa Capital, acting as the lead strategy partner for the Airdrop Gain Vault. Collaborating L2/DeFi partners include Linea, Karak, Scroll, Pendle, Across, LZ, Pendle, Spectra, Lyra, and several DEXs. The launch of Kelp Gain signifies an industry-wide progression towards automated reward management and investment strategies.

To access the vault, click this link.

About Kelp DAO

Kelp DAO is a leading liquid restaking protocol that crossed $1 billion in Total Value Locked (TVL) in June 2024, managing over 250k ETH 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 across the Ethereum mainnet and eight Layer 2 networks.

Contact
Head of Communications
Archana B
archana@kelpdao.xyz

This article was originally published on Chainwire.