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Kelp DAO Restaked ETH (rsETH)

Kelp DAO Restaked ETH (rsETH) is a Liquid Restaked Token (LRT) by , a multi-chain liquid restaking platform for and . It provides to assets deposited into restaking platforms like and seeks to tackle the risks and challenges inherent in current restaking options. [1]

Overview

Restaked (rsETH) is a unified liquid restaked token generated from approved as on . It enables fractional ownership of staked assets, simplifies access to restaking and , and utilizes composability within protocols. Additionally, it resolves issues such as intricate reward systems and excessive fees. [1][2][3]

Restakers stake their to mint rsETH tokens, indicating fractional ownership of the underlying assets. The rsETH contracts then distribute the deposited tokens among Operators affiliated with the . Rewards accumulate from various services to the rsETH contracts, and the price of rsETH tokens reflects the underlying price of these rewards and staked tokens. Restakers can swap their rsETH tokens for other tokens on for instant or redeem underlying assets through rsETH contracts. Furthermore, restakers can leverage their rsETH tokens in applications. [1][2][3]

For Restakers, rsETH provides a streamlined process, eliminating the need to identify suitable services and while efficiently managing rewards earned through restaking. For Authorized Validator Services (AVSs), rsETH simplifies the process by avoiding identifying and partnering with operators, streamlining efforts to bootstrap security, and contributing to reducing emissions on rewards. For Operators, rsETH eliminates the hassle of identifying appropriate services, simplifies efforts to attract restakers and restaked assets, and facilitates efficient management of rewards earned through restaking. [1][2][3]

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Kelp DAO Restaked ETH (rsETH)

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May 26, 2024

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