wrsETH Reaches $110M on Aave v3 Mantle Market
wrsETH Reaches $110M on Aave v3 Mantle Market
🚀 $110M milestone
wrsETH has become the fastest growing asset on Aave v3's Mantle market, reaching approximately $110M in total supplied value.
Key Details:
- Boosted rewards program extended until April 15
- Growth represents significant expansion from $25M in late February
- Part of broader Mantle DeFi ecosystem that crossed $1B in under a month
Reward Structure:
- Base restaking rewards
- MNT incentives
- 15 bps subsidy from Kelp
- Looping rewards from borrow spread
Users can supply wrsETH as collateral, borrow against it, or utilize looping strategies to amplify restaking exposure.
Fueling the MoMNTum with rsETH on Mantle 🌱 Join us for an exclusive chat with @Mantle_Official where we unpack one of the fastest growing DeFi ecosystems this cycle - and Kelp's role in powering it. 📅 March 5 ⏰ 1 PM UTC Set your reminders 👇
Less than 30 mins ⏳ @Mantle_Official's - @aave market crossed $1B in under a month. rsETH has been one of the fastest growing assets on it. And we're about to get into why. Mantle State of Mind Ep. 07 with @KMagcap on the panel 👇
Reminder: Join us in an hour as we get into everything CeDeFi on Mantle, alongside the leaders and builders shaping it. Mantle State of Mind Ep. 07, 10 PM UTC+8. Right here on 𝕏. Never fade the MoMNTum. Drop your questions (if any) ↓
Mantle's DeFi ecosystem has been on an incredible run and rsETH has been one of the fastest growing assets on it. 🌱 We sat down with @Mantle_Official yesterday to get into what's working and what's next. Here's what you missed 🧵
You can natively mint or bridge rsETH on @Mantle_Official via the Kelp dApp. Get started. kerneldao.com/kelp/restake/?…
Josh talked about the chicken-and-egg problem that's held back RWA and TradFi adoption on-chain: You need distribution to attract real-world assets, but you need those assets to attract distribution. Mantle's play is using Bybit as the distribution side while Aave and DeFi
Alpha drop from @KMagcap 👀 Kelp is building KUSD, a reward-bearing stablecoin. ⍛ Rewards come from real-world payment and trade financing ⍛ TradFi does ~$300T in annual volume ⍛ Target reward rate: 8-10% Launching in the coming months. Given Mantle's push toward RWAs, it's
The @aave v3 market on @Mantle_Official just crossed $1B in deposits. Mantle committed 8M MNT in incentives over 4-6 months to bootstrap the market. But @joshuacheong was clear: this isn't rented TVL. It's paying for user acquisition and LP growth that compounds. As more users
Full reward stack for rsETH on Mantle: ⍛ Base restaking rewards ⍛ MNT incentives (live until March 18) ⍛ 15 bps subsidy from Kelp ⍛ Looping rewards from the borrow spread
. @joshuacheong responded well to the KUSD direction. Mantle is actively looking at real-world assets and sees the DeFi market as the way to get them on-chain at scale. "The differentiator is going to come from the fact that we can drive more real-world assets that can live in
✧ rsETH integrations & milestones ⍛ rsETH launch on @Mantle_Official: Native minting and bridging went live, with immediate integrations on @MerchantMoe_xyz and the @aave v3 - Mantle market. The Aave market saw supply caps hit twice within days of launch and has now reached
Head of Product at @Mantle_Official, @joshuacheong, kicked things off with Mantle's broader vision. Mantle is an EVM-compatible L2 with deep integration with @Bybit_Official, which gives it access to over 70M users. That's a distribution advantage most L2s don't have.
Head of Ecosystem at Kelp, @KMagcap, shared why @Mantle_Official was the right move for rsETH. "Mantle's alignment with Bybit creates a really strong layer of user acquisition that most L2s simply do not have." The focus right now is growing rsETH liquidity and utilization on
wrsETH is now live on @megaeth 🌱 While the timeline debates MegaETH, the builders keep shipping. rsETH is in, and the DeFi stack is already taking shape 🧵
Quick recap: ⍛ @Mantle_Official's Aave v3 market crossed $1B in market size ⍛ rsETH rewards via looping ⍛ 8M $MNT + 15 bps Kelp subsidy + restaking rewards = stacked ⍛ KUSD incoming, powered by real-world payment flows (8-10% target) ⍛ Mantle's CeDeFi thesis is playing out
Another day. Another W. The wrsETH supply caps on the @aave v3 - @Mantle_Official market have maxed out yet again! 👻 Total supply now at ~$50M. Boosted rewards run till March 18. Caps increase soon. Be early. ⚓ app.aave.com/reserve-overvi…
You can natively mint or bridge rsETH on @Mantle_Official via the Kelp dApp. Get started. kerneldao.com/kelp/restake/?…
The wrsETH supply caps on the @aave v3 - @Mantle_Official market have maxed out! 👻 ~$25M now supplied on Mantle. 🌱 If you're holding wrsETH, boosted rewards are live until March 18th. Caps increasing soon! ⚓ app.aave.com/reserve-overvi…
wrsETH is the fastest growing assets on the @aave v3 - @Mantle_Official market 🌱 ~$110M supplied. Boosted rewards are live until April 15. Supply now. ⚓ app.aave.com/reserve-overvi…
MoMNTum on @aave: Beyond the top assets last week, there’s more brewing beneath the surface to make DeFi mainstream. Meet the rising Mantle assets on Aave.
DeFi Analyst and Vaults Lead at Kelp, @Whyshock, walked through what users are actually doing with rsETH on @Mantle_Official. The main strategy is looping: supply wrsETH as collateral on @aave v3, borrow WETH, and loop to amplify restaking exposure. ETH supply has been tight
⍛ rsETH launch on @megaeth: Now live with native support via @aave v3 and @kumbaya_xyz, opening new looping, and liquidity opportunities on the chain.
wrsETH is now live on @megaeth 🌱 While the timeline debates MegaETH, the builders keep shipping. rsETH is in, and the DeFi stack is already taking shape 🧵
Less than 90 mins ⏳ We're sitting down with @Mantle_Official to talk about what's behind the explosive DeFi growth and what's cooking next. ⏰ 1 PM UTC Be there! x.com/i/spaces/1MJgN…
Fueling the MoMNTum with rsETH on Mantle 🌱 Join us for an exclusive chat with @Mantle_Official where we unpack one of the fastest growing DeFi ecosystems this cycle - and Kelp's role in powering it. 📅 March 5 ⏰ 1 PM UTC Set your reminders 👇
⍛ @aave v3 just launched on @Mantle_Official with wrsETH as a supported collateral asset. 👻 Supply wrsETH, borrow against it, or loop it. And the best part? You can get boosted rewards on wrsETH supply till March 18th. Don't miss out. ⚓ app.aave.com/reserve-overvi…
rsETH is now live on @Mantle_Official 🌱 Our LRT expands to Mantle's growing DeFi ecosystem, with exciting opportunities across lending and liquidity. 🧵
KUSD Stablecoin Launches with Real-World Trade Finance Backing
**KUSD** is a new stablecoin that can be minted with existing stablecoins and staked as **sKUSD** to earn rewards. **How it works:** - Deposit stablecoins → mint KUSD → stake for sKUSD - Backing stablecoins are deployed as short-term credit to verified borrowers against their receivables - When invoices clear, principal + fees flow back to sKUSD holders **Key features:** - Target base reward rate: ~10% - Rewards come from actual trade receivables, not token emissions - Backed by real-world payment flows ($200T+ global payments market) - Designed to maintain returns during crypto downturns **DeFi strategies available:** - Provide liquidity in KUSD/stablecoin pairs - Loop on lending markets to potentially reach 20-25% returns - No lockups required Unlike typical on-chain stablecoin rewards that compress to 2-3% in bear markets, KUSD's returns are tied to real economy activity that continues regardless of crypto prices. [View litepaper](https://kerneldao.com/kred/litepaper.pdf) | [Get in touch](https://kred.kerneldao.com/)
sKUSD Stablecoin Offers 8-10% Yields from Trade Receivables
**KelpDAO's sKUSD stablecoin** provides 8-10% rewards backed by trade receivables and global commerce flows, offering an alternative to traditional stablecoin yield sources. **Traditional yield sources have limitations:** - Funding rates fluctuate with leverage levels - T-bill yields depend on Federal Reserve policy - Both compress during changing market conditions **sKUSD's approach differs** by deriving rewards from receivables, payments, and settlement flows tied to real economic activity rather than market cycles. This positions it between high-reward crypto yields that vanish during downturns and real-world backing typically limited to 4-5% returns. The protocol aims to provide consistent yields independent of crypto market conditions by tapping into global commerce infrastructure.
Kelp Connects Onchain Capital to $2.5T Unfunded Trade Finance Gap
**Kelp is bridging DeFi liquidity with real-world trade finance needs.** Of the $10 trillion moving through global trade finance annually, $2.5 trillion remains unfunded. **How it works:** - sKUSD token earns returns from short-term receivables in trade and cross-border payments - Yields come from actual commerce settlement, not crypto market speculation - Targets $9-11 trillion locked in idle settlement buffers and receivables globally **The model:** While traditional stablecoins sit idle, KUSD generates returns backed by real payment flows and trade finance activity. Credit moves alongside settlement rather than weeks after, creating a practical bridge between DeFi capital and traditional finance infrastructure. Co-founder Amit detailed the approach at NextFin NYBW, explaining how programmable settlement rails can power working capital in payments and trade.
KelpDAO and Mantle Discuss rsETH Growth in Upcoming Live Session
KelpDAO's head of ecosystem will join Mantle for a live discussion about rsETH's expansion on the Mantle network. **Key Details:** - Live session featuring KelpDAO and Mantle representatives - Focus on rsETH growth metrics and momentum on Mantle - Discussion will cover what's driving continued adoption The conversation aims to explore how rsETH, KelpDAO's liquid restaking token, is performing within Mantle's ecosystem and the factors contributing to its growth trajectory.