Kelpdao protocol
Overview
Kelpdao (Kelp DAO) is a liquid restaking protocol built on Ethereum that enables users to deposit ETH or liquid staking tokens to mint rsETH, a liquid restaking token. It aggregates user deposits into EigenLayer to earn restaking rewards while providing liquidity through rsETH. On 2026-04-18, Kelp DAO's LayerZero-powered bridge was exploited for roughly $292M (about 116,500 rsETH), the largest DeFi hack of 2026; the team paused contracts and rsETH temporarily lost part of its backing before recovery efforts began.
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Frequently asked questions
What is Kelpdao?
Kelpdao is a liquid restaking protocol built on Ethereum that enables users to deposit ETH or liquid staking tokens to mint rsETH, a liquid restaking token.
How does Kelpdao generate rewards?
Kelpdao aggregates user deposits into EigenLayer to earn restaking rewards while providing liquidity through rsETH.
What is the main focus of Kelpdao?
The protocol focuses on maximizing yield and capital efficiency for restaking.