KelpDAO

Kelp has emerged as a major player in the liquid restaking market, now controlling ~$2B (20%) of the total $11B market cap. Key achievements in their 18-month journey include: - First liquid restaked token (rsETH) on Ethereum Mainnet - Integration with major protocols like Aave and Compound - Expansion to 10+ L2 networks - 550,000+ users across ecosystem - $200M TVL in Gain by Kelp product The protocol is transitioning to $KERNEL token, which will govern three protocols worth $2B+ combined: Kelp, Gain Vaults, and Kernel DAO. Season 3 staking rewards are now available for token holders.

Two new liquidity pools on Balancer V3 have launched with multiple reward incentives: - hgETH/rsETH pool offering approximately 9% reward rate for liquidity providers and additional hgETH rewards - wrsETH/WETH pool on Optimism featuring: - 4,500 OP tokens in weekly incentives - Double Kernel Points - Programmatic EIGEN rewards Both pools are now accepting deposits at: - Ethereum: [hgETH/rsETH pool](https://balancer.fi/pools/ethereum/v3/0x6649a010cbcf5742e7a13a657df358556b3e55cf) - Optimism: [wrsETH/WETH pool](https://balancer.fi/pools/optimism/v3/0xe0d0b607539fdb647c4e87eff89588c6bb669c03)

**Fluid (@0xfluid) has introduced two new looping strategies** for rsETH holders on Ethereum: - rsETH <> wstETH direct looping ($15.5M supply) - rsETH <> ETH/wstETH looping ($600k supply) Both strategies offer: - 2x Kernel Points - Programmatic EIGEN rewards - Enhanced position optimization while maintaining liquidity Users can access these opportunities through [Fluid's platform](https://fluid.instadapp.io/vaults/1/79). *This update represents a significant expansion of rsETH holder capabilities through smart collateral integration.*

Morpho Labs has launched a new rsETH <> WETH market on Unichain, curated by Nine Summits. The market offers multiple reward opportunities: - 2x Kernel Points - 1x Programmatic EIGEN rewards - Additional rewards in OP, MORPHO, and USDC tokens The 12-week campaign aims to enhance liquid restaking strategies on Unichain. This follows recent successful integrations, including a Uniswap pool with $16M TVL and 10.5% reward rate. [Deposit on Morpho](https://app.morpho.org/unichain/market/0x5a2b9a157b1b212921845d53fa52ae828ad9bc240ebfc7d57addf7c8f4b4729a/rseth-weth)

hgETH's growth vault reports improved total reward rate of 11.6%. Portfolio highlights: - Euler Finance maintains top position at 21% reward rate - Multiple protocols (Upshift, TacBuild, Growcompound) delivering 15% returns - Aave v3 holds largest allocation (45%) with 12% rewards - Portfolio actively managed across 8 protocols Total portfolio breakdown ranges from 3-45% allocations across various strategies including leveraged restaking, ETH vaults, and LP positions. [Mint hgETH](https://kelpdao.xyz/gain/growth-vault/?utm_source=highguide)

A new governance proposal focusing on stablecoin vaults is now live for $KERNEL token holders to vote. The proposal follows strong community engagement and discussion around two vault options, with the stablecoin vault gaining significant traction. - Voting is open to all $KERNEL holders - Proposal addresses protocol-owned liquidity administration - Community feedback has shown clear preference for stablecoin implementation [Vote on Snapshot](https://snapshot.box/#/s:kernelgov.eth/proposal/0xd97c622c95b3b8c3d8495f13f4f88aee67eb067eb8a426ffe26c096dbbe29f9e)

The agETH pool on Pendle Finance has reached approximately $7M in Total Value Locked (TVL). Users can earn multiple reward streams: - 3.5x Kernel Points - Programmatic EIGEN rewards - Leveraged Restaking rewards **Pro Tip**: Enhance your rewards by utilizing YT, LP, and PT tokens within the agETH pool. Access the pool at [Pendle Finance](https://app.pendle.finance/trade/pools/0xbe8549a20257917a0a9ef8911daf18190a8842a4/zap/in?chain=ethereum)

The KERNEL token ($KERNEL) launches April 14th with multiple utilities across the KernelDAO ecosystem: - **Shared Security**: Stake tokens to provide economic security for ecosystem applications - **Slashing Insurance**: Earn protocol rewards while protecting against slashing events - **Governance**: Participate in decision-making across Kernel, Kelp, and Gain protocols - **Liquidity Mining**: Earn rewards through AMM liquidity provision The token unifies three core components: 1. Kelp's LRT 2. Kernel's shared security system 3. Gain's tokenized reward vaults This integration creates a value cycle connecting infrastructure users, validators, and developers.

Two significant integrations have been announced for SparkLend: - **KelpDAO's rsETH** has been added as collateral, enabling users to borrow against their staked ETH positions - **Renzo Protocol's ezETH** is now supported, expanding borrowing options on the platform Both integrations offer competitive borrowing rates and streamlined user experience on SparkFi. These additions represent growing options for liquid staking token holders seeking lending opportunities. [Learn more about SparkFi](https://spark.fi)

KelpDAO announces a major ecosystem update with the conversion of Kelp Miles to Kernel Points. Here are the key changes: - 1 Kernel Point = 1,000 Kelp Miles - Unified system combining Kelp, Gain, and Kernel DAO under $KERNEL - Holders receive governance rights across all three protocols **Coming Updates Include:** - Strategic reallocation of existing points - Enhanced incentives - New earning opportunities - Special point-boosting programs *Kernel Points will determine $KERNEL token allocation at TGE (Token Generation Event)* Users can continue earning points through Kelp & Gain vaults participation.