Kelp
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Protocol TVL
Fees & Revenue
Chain Fees Distribution
Revenue Breakdown
About Kelp
Kelp is the second largest liquid restaking protocol with ~$2B+ in TVL. Its liquid restaked token, rsETH, is live across 10+ major L2s and 40+ DeFi platforms, allowing users to restake while maintaining full liquidity.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
How Kelp's TVL is measured
DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.
deposited LSTs in deposit pool, node delegator contracts and from them into eigenlayer strategy contracts
If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.
Kelp codebase lineage and protocol family
Kelp is published as a versioned release inside the Kerneldao protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.
Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.
Security & Audits
Parent Protocol
Kelp is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.
KerneldaoKelp Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Dec 21, 2023Listed on DeFiLlama
Protocol Profile
Kelp is a Liquid Restaking protocol that issues liquid receipt tokens against staked deposits, so users earn validator rewards without locking up the underlying asset. It is deployed across 16 chains, including Ethereum, Arbitrum, Base, Zircuit and 12 other chains. The codebase has been independently audited (1 report on file).
TVL Distribution by Chain
TVL spans 16 chains across the deployment. See the breakdown below for per-chain values.
…and 6 other chains with smaller deployments.
Supported Chains
Protocol Footprint
Kelp runs a multi-chain deployment, with smart contracts live on 16 networks. Roughly 100% of its on-chain value sits on just three networks (Ethereum, Arbitrum, Base), so a fault on any one of them would affect a large slice of users. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.
Official Resources & Links
Verified external resources for Kelp — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other Liquid Restaking protocols on Mantapex
Kelp is one of 7 Liquid Restaking protocols Mantapex tracks in this category. Direct peers ranked by total value locked include ether.fi Stake, Renzo, Mantle Restaking, and 3 more. These peer protocols collectively secure $6.9B in deposits, giving you a frame of reference for whether Kelp's own TVL is at the top, middle, or tail of the category.
Available Yields
| Project | Pool | APY | TVL |
|---|---|---|---|
| kelp | RSETH | 3.34% | $1.4B |
Recent Kelp news
Latest reporting from major crypto news outlets covering Kelp.
- AMBCrypto
Kelp DAO burns 17.1K rsETH as Aave raises $317M – Recovery underway?
Kelp and Aave reached a major milestone, burning exploiters 17,132 rsETH.
- Crypto Economy
KelpDAO and Aave prepare to restart rsETH operations after initial recovery
KelpDAO and Aave announced the resumption of operations with rsETH after completing the first steps of the post-exploit recovery plan. The April 18 attack, attributed to North…
- Cointelegraph
Kelp DAO eyes unpausing withdrawals after attackers' rsETH on Arbitrum is burned
Kelp DAO has burned the exploiter's tokens and outlined a two-week plan to refill rsETH through Aave's Recovery Guardian multisig wallet.
- Blockchain News
Kelp DAO and Aave Advance rsETH Recovery After $293M Hack
Kelp DAO resumes withdrawals after burning attacker's rsETH on Arbitrum and initiating a two-week recovery process with Aave's support.
- The Block
Kelp DAO, Aave to resume rsETH operations as recovery from $292 million exploit progresses
Kelp was exploited on April 18 for $292 million from attackers suspected to be part of North Korea's Lazarus Group.
- Cryptopolitan
KelpDAO exploiter's wallets get liquidated on Aave
Aave announced that Arbitrum DAO had voted in favor of unlocking and liquidating the stolen ETH from the KelpDAO hack.
- CryptoPotato
After Disputing LayerZero Claims, KelpDAO Prepares Chainlink CCIP Migration
KelpDAO plans to adopt Chainlink CCIP after the massive exploit last month.
- Crypto Economy
KelpDAO Challenges LayerZero's Narrative, Citing Evidence of Infrastructure Breach in $300M Exploit
KelpDAO held LayerZero responsible for the April 18 exploit that caused losses of over $300 million. Independent researchers from SEAL 911 confirmed the breach occurred within…
Related protocols
Other DeFi protocols connected to Kelp by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other Liquid Restaking protocols
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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