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Kelp DAO is a multichain liquid restaking protocol built on EigenLayer. It focuses on providing users with liquid solutions for restaking on EigenLayer by offering the Liquid Restaking Token, rsETH. It is also the first restaking protocol to enable trading and transferring of EigenLayer points by converting them into $KEP tokens.
On May 22nd, 2024, the platform announced a $9M private funding round at the $90M valuation, with Hypersphere Ventures, DWF Ventures, and other prominent funds participating. Alongside the private round announcement, the founder of Kelp DAO confirmed the release of its native token in the near future.