Kelp DAO Airdrop
About Kelp DAO
Kelp DAO is a liquid staking platform specialized in Liquid Restaking Solutions for public blockchain networks. They are working on developing rsETH on EigenLayer for Ethereum, enabling restakers to mint rsETH tokens which represent fractional ownership of underlying assets. This provides liquidity to typically illiquid assets and allows users to utilize their rsETH tokens within DeFi.
Why we choose Kelp DAO?
Kelp DAO is currently one of the largest Liquid Staking Protocol, with over $500M in TVL. They have successfully raised $9M at a $90M valuation, backed by prominent ventures such as Laser Digital, Hypersphere Ventures, and GSR.
Kelp DAO is currently running a point system, where users can earn Kelp Miles by restaking their assets and providing liquidity for rsETH and agETH pairs. This presents an exciting opportunity to position yourself for the future Kelp DAO airdrop.
Kelp DAO Airdrop Guide
Airdrop Eligibility
- Complete all tasks below:
- Restake assets/Deposit in Gain Vault
- Participate in DeFi using rsETH/agETH
How to get Kelp DAO Airdrop?
To qualify for the Kelp DAO airdrop, you will need to accumulate Kelp Miles. There are 3 primary ways to earn Miles:
- Restake ETH assets and hold rsETH (low risk – low reward)
- Deposit in Airdrop Gain Vault and hold agETH (low risk – mid reward)
- Participate in DeFi using rsETH/agETH (high risk – high reward)
Additionally, by farming Kelp DAO, you can also earn EigenLayer Points, Scroll Marks, and other airdrop points at the same time.
Deadline: Kelp DAO estimated their TGE to be in Q4 2024, so we can speculate that their first season will run until Q4 2024.
How to earn Kelp DAO Airdrop: Restake Assets + Deposit to Airdrop Gain Vault + Participate in DeFi using rsETH/agETH.
Recommended strategy: Instead of restaking for rsETH, you can consider depositing into Kelp Gain Vault to earn boosted Kelp Miles and other airdrop rewards (Ethereum Mainnet only).
Additionally, rather than just hold rsETH/agETH, you can participate in DeFi to get higher Kelp Miles multipliers. For new DeFi users, we suggest joining Lending protocols, since it has lower risks than other activities (see part IV below).
To maximize your chances for the Kelp DAO airdrop, follow the guide below.
#1: Restake Assets
You can restake assets such as ETH, ETHx, or stETH to get rsETH. Simply holding rsETH can earn 1x Kelp Miles, EigenLayer Points, and underlying APYs. rsETH tokens can further be used in DeFi to earn more Kelp Miles.
Currently, Kelp DAO supports assets in these networks: Ethereum, Arbitrum, OP Network, Base, zkSync, X Layer, Mode, Linea, Blast, and Scroll.
To restake, visit the Kelp DAO Restake page and connect your wallet.
Next, choose your desired deposit network and asset.
Enter the amount and click on Restake Now. Sign the prompted transaction to receive your rsETH.
#2: Unstake rsETH:
To unstake rsETH, you can use the official UI (Ethereum Mainnet only) or swap directly on DEXes.
Slow unstake (7-10 days wait period, no slippage):
To unstake your rsETH using the official UI, visit the Kelp DAO Restake page and switch to the Unstake tab. Choose withdraw asset, enter the amount and click on the approve/unstake button.
After the wait period, switch to the Withdraw tab and claim your assets.
Swap on DEXes (instantly, slippage and gas fees applied):
To swap directly using DEXes, visit Uniswap (for Ethereum Mainnet) and connect your wallet. Enter the desired amount, approve your tokens and click on Swap. For other networks, you can follow the similar process but use supported DEXes listed under this page.
Note: At the moment, Airdrop Gain Vault is only available on the Ethereum Mainnet.
You can deposit assets such as rsETH, ETH, ETHx, or stETH into the Airdrop Gain Vault to get agETH. Holding agETH expose you to boosted Kelp Miles earning along with points for other airdrops:
- Linea XP
- Scroll Marks
- Karak XP
- EigenLayer Points
Similar to rsETH, agETH tokens can further be used in DeFi to earn more rewards.
#1: Deposit to Airdrop Gain Vault:
To deposit, visit Kelp Airdrop Gain page and connect your wallet. Choose your desired asset and amount then click on Approve/Deposit and sign the transaction.
#2: Withdraw from Airdrop Gain Vault:
To withdraw agETH, you can use the official UI, or swap directly on Uniswap.
Slow withdraw (3-4 days wait period, no slippage):
To unstake your agETH using the official UI, visit the Kelp Airdrop Gain page and switch to the Withdraw tab. Enter your desired amount and click on the withdraw button.
After the wait period, switch to the Claim tab and claim your assets.
Swap on Uniswap (instantly, slippage and gas fees applied):
Visit Uniswap and connect your wallet. Enter the desired amount, approve your tokens and click on Swap.
You can boost your Kelp Miles earnings by participating in DeFi using rsETH or agETH. There are numerous options available with different multipliers for Kelp Miles earning.
To get started, visit the Kelp DAO DeFi page and connect your wallet. Use the filter to select your preferred Network, Activity, and Asset. Once you find your desired pool, click on the Add Liquidity button to join.
You can invite friends to join Kelp DAO and earn more Kelp Miles. Your friends will receive a 10% bonus on their Kelp Miles earnings, while you will earn 10% of the Kelp Miles they accumulate.
Visit Kelp DAO Dashboard and connect your wallet. Click on the Copy button and invite friends using the link to maximize your Kelp Miles earning.
To view your earned Kelp Miles and EigenLayer Points, visit the Kelp DAO Dashboard and connect your wallet. Your earned rewards will be listed under this dashboard.
You can now claim EigenLayer rewards from restaking assets with Kelp DAO. Snapshot for this claim was taken for the period March 15th – August 15th, 2024.
Visit the Kelp DAO Claim EL page, connect your wallet and claim rewards.
Kelp DAO Airdrop Claim
- Expected TGE: Q4 2024