Kelp DAO Restaked ETH (RSETH) is a Liquid Restaked Token (LRT) designed to provide liquidity and flexibility to illiquid assets deposited into restaking platforms, such as EigenLayer. It allows users to receive Ethereum staking and restaking rewards while retaining liquidity and the ability to participate in DeFi.
Kelp DAO Restaked ETH (RSETH) is a Liquid Restaked Token (LRT) designed to provide liquidity for assets deposited into restaking platforms, such as EigenLayer. Here's how it works:
Depositing LSDs: Users deposit various Liquid Staked Tokens (LSDs) into Kelp DAO contracts, and in return, RSETH tokens are minted, signifying fractional ownership of the underlying assets.
Restaking in EigenLayer: When EigenLayer opens its window for deposits, Kelp DAO transfers the tokens into their contracts, allowing users to earn points and rewards.
Reward Accumulation: Rewards accumulate to RSETH holders, who can then choose to swap their tokens for other assets for instant liquidity or redeem the underlying assets through RSETH contracts.
DeFi Usage: RSETH holders can also use their tokens in DeFi for leverage or loans, providing additional liquidity and flexibility.
Kelp Miles and EigenLayer Points: Kelp DAO uses a reward system called Kelp Miles to track points and deposits. Users can earn boosted miles for deposits made within specific timeframes, and these miles do not expire.
Referral Program: Kelp DAO has a referral program that rewards users for referring others to restake with them, providing additional incentives for participation.
Overall, RSETH enables users to earn rewards and maintain liquidity while participating in restaking protocols like EigenLayer.
To store Kelp DAO Restaked ETH (RSETH) tokens, the safest method is to use a "Cold Wallet," which is a wallet that is completely offline. This ensures maximum security for your tokens. There are two types of cold wallets: hardware wallets and paper wallets. Hardware wallets are physical devices that store your tokens, while paper wallets are physical documents containing your private keys. Both options provide secure offline storage for your RSETH tokens.
To buy Kelp DAO Restaked ETH (RSETH) tokens, follow these steps:
- Find Decentralized Exchanges (DEXs): Look for DEXs where RSETH is listed. Popular options include Uniswap V3 (Ethereum), Balancer V2, and Curve (Ethereum).
- Create and Set Up a DeFi Wallet: Set up a DeFi wallet to store and manage your RSETH tokens. Ensure the wallet supports Ethereum-based tokens.
- Fund Your Wallet: Fund your wallet with Ethereum (ETH) or other supported currencies to use for purchasing RSETH.
- Trade for RSETH: Use your funded wallet to trade for RSETH tokens on the chosen DEX. You can use the RSETH/WETH trading pair on Uniswap V3, for example.
- Add RSETH to MetaMask (Optional): If you use MetaMask, you can add RSETH to your wallet by importing the token contract address (0xa1290d69c65a6fe4df752f95823fae25cb99e5a7).
By following these steps, you can purchase and manage your Kelp DAO Restaked ETH (RSETH) tokens effectively.
