KelpDAO Unveils Exciting L2 Bonanza Initiative Offering $1.5M in Rewards for Stakers

A staking solution on Ethereum combined with EigenLayer's native restaking feature KelpDAO The recently introduced L2 Bonanza initiative aims to enhance the utility of KelpDAO's liquid staking token, rsETH, by offering approximately $1.5 million in rewards, designed to simplify and enrich the restaking process on Layer 2 networks.

KelpDAO currently provides restaking capabilities across nine prominent Layer 2 networks, including Arbitrum, Optimism, Blast, ZKsync, and Scroll. These networks open doors to over 40 decentralized finance (DeFi) ventures, many of which are incentivized with enhanced grants, network rewards, and farming programs.

Recently, KelpDAO received an LTIPP Grant valued at 250,000 ARB tokens, which will be distributed among users as rewards. Every user can earn up to $30 worth of ARB for each wrsETH they mint or transfer using KelpDAO's platform. This rewarding opportunity is bolstered by partnerships with Balancer, Camelot, PancakeSwap, and Equilibria, enriching the user incentives. Additionally, KelpDAO has secured a grant from the Optimism Foundation of 50,000 OP tokens, where users can earn $30 in OP for each wrsETH minted or bridged within the Optimism network, complemented by further incentives from Balancer and Extra Finance. Arbitrum KelpDAO is set to Utilize Rewards from Blast, ZKsync, and Scroll to Motivate Restakers

A generous allocation of 14,000 Blast Gold tokens has been designated for Kelp restakers, allowing users to earn additional Blast Gold tokens by engaging in restaking, bridging wrsETH, and taking part in various DeFi operations. Platforms like Blaster, Juice, and Thruster are also providing extra Gold tokens to users depositing rsETH. Furthermore, ZKsync has recently revealed a whopping 5.6 million ZK tokens set aside for KelpDAO restakers, translating to potential earnings of up to $60 per wrsETH minted or bridged. Additionally, users have the opportunity to earn more ZK tokens through Kelp Miles via partnerships with Koi Finance and SyncSwap.

In conclusion, wrsETH stands out as the exclusive liquid restacking token eligible to accumulate Scroll Marks points. This token automatically receives Tier 1 Marks Rewards on the Scroll platform, assisted by co-incentives from Ambient and Layer Bank. Blast Kelp DAO serves as a premier solution for Ethereum staking and

native restaking, facilitating Ethereum validators' withdrawal credentials through EigenPods. This innovation empowers ETH token holders who may not possess the full 32 ETH typically required to operate a validator node. Consequently, they can stake their ETH directly on Ethereum while simultaneously engaging in restaking via EigenLayer, thus contributing to the validation and security of modules on EigenLayer, which include consensus protocols and data availability layers.

To get involved, users can stake their ETH directly through the KelpDAO application and receive ERC-20 rsETH tokens. These tokens are designed to be non-rebasing and fluctuate in value based on the current exchange rate. Unlike rebasing tokens, the value of rsETH will steadily increase as staking rewards accumulate. EigenLayer Please be advised that the information contained here is not intended as legal, tax, investment, financial, or any other type of guidance. It’s vital to only invest funds that you can afford to lose and to seek out independent financial counsel if you have uncertainties. For more details, we recommend reviewing the terms and conditions as well as the help and support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial reporting, but be aware that market conditions can change abruptly.

Alisa, a committed journalist with Cryptocurrencylistings, focuses on cryptocurrency, zero-knowledge proofs, investments, and the vast landscape of Web3. With an astute understanding of emerging trends and technologies, she offers in-depth coverage that keeps readers informed and engaged in the dynamic world of digital finance.