Kelp DAO (KELP)

Kelp DAO is a multichain liquid restaking platform that focuses on developing new LRT solutions built on the EigenLayer protocol.

It allows users to earn combined returns from Ethereum staking and EigenLayer restaking simultaneously, while granting them liquid funds in the form of rsETH Liquid Restaking Tokens. It stands out among other liquid staking protocols with its innovation of bringing liquidy to the EigenLayer points, which are currently the main reward for contributing to the protocol.  

Originally, those EigenLayer points were illiquid and non-transferable. However, Kelp restaking protocol offered a new solution to solve this problem by converting EigenLayer points into $KEP tokens. This approach enables restakers to freely trade and transfer EigenLayer points, as well as provide liquidity to LPs across various DeFi protocols. 

❗️UPD: Due to the EigenLayer snapshot and airdrop phase 1 announcement the $KEP tokens are no longer transferable. Read more about $KEP tokens updates here.

🪙Kelp DAO token: On the 22th May 2024, the Kelp DAO’s founder, Amitej Gajjala, confirmed its plans to release its governance token $KELP, along with announce of the private $KELP token sale 

Considering these factors, along with rising trends of token launches and airdrops from liquid restaking protocols, our team decided to conduct a comprehensive review of the project. During our research we found some major pros and cons of the Kelp DAO crypto protocol you might want to know before participating into the KelpDAO airdrop:

✅ Kelp DAO pros: 

• The project boasts over $972M worth of TVL;
• Great product’s design;
• The protocol has a multiple security assessments from tier 2-3 auditors;
• Strong SEO, SMM, PR and Growth marketing performance;
• Presence of the reputable bakers invested into the project;
• Large network of partners supporting the project;
• Experienced leadership team. Some of the project’s co-founders previously worked in liquid staking protocol - Stader labs.

📛 Kelp DAO cons:

• None of the top tier security auditors audited the project;
• Below-the-average Influencer marketing performance;
• Weak marketing infrastructure;
• No TOP-Tier investors; 
• No roadmap presented by the project yet;
• No tokenomics released by the project’s team yet.