Kelp GainPrice

(AGETH)

rsETH is Kelp DAO's Liquid Restaking Token (LRT) primarily focused on earning rewards from restaking protocols. In contrast, agETH, which stands for Airdrop Gain ETH, is a specialized "Gain" receipt token. Its core design automates and maximizes participation in various Layer 2 (L2) network airdrop campaigns, such as those on Linea and Scroll, while simultaneously capturing restaking rewards. Essentially, rsETH focuses on restaking, while agETH optimizes for diverse airdrop farming across multiple L2s in addition to restaking rewards.

By holding agETH, users typically accrue a "stack" of rewards designed to maximize their potential earnings. These include Layer 2 (L2) specific points, such as Scroll Marks and Linea Voyage points, which are crucial for potential airdrops from those networks. Additionally, holders earn Restaking Points from underlying protocols like EigenLayer and Karak. Lastly, users also accumulate Kelp/Kernel Points, which are part of the platform's native reward system, leading towards their token generation event. This multi-layered approach aims for comprehensive reward optimization.

The Airdrop Gain vault provides flexibility by supporting several popular assets for minting agETH. Users can deposit Native ETH, which is the foundational cryptocurrency of the Ethereum network. Additionally, liquid staking tokens such as rsETH from Kelp DAO, stETH from Lido, and ETHx from Stader are also accepted. This range of supported assets allows users who already hold various forms of ETH or liquid staking tokens to easily participate in the agETH strategy.

The standard process for withdrawing or redeeming agETH typically requires a waiting period of approximately 2 to 3 days. When a withdrawal request is initiated and processed, users will receive rsETH in return. This rsETH can then either be held, swapped on a decentralized exchange, or unstaked further depending on the user's preference and the underlying protocol's terms. This timeframe accounts for the necessary operational steps within the vault and underlying protocols.

Kelp Gain's smart contracts have undergone audits by reputable firms like Sigma Prime to enhance security. However, it's important for users to understand the concept of "layered risk." Since agETH's yield is generated from multiple external protocols—including various Layer 2 networks and restaking protocols—each of these underlying components carries its own inherent risks. While Kelp DAO implements robust security practices, users should be aware that the overall safety is a composite of the security of all integrated protocols.

Yes, a key advantage of agETH is its liquidity and composability within the broader decentralized finance ecosystem. Users are encouraged to utilize their agETH on other platforms to potentially earn additional rewards or manage their positions. For example, it can be taken to platforms that facilitate yield or principle trading, or employed in liquidity pools on various decentralized exchanges to earn additional rewards. This interoperability allows users to further leverage their agETH holdings beyond the core Kelp Gain vault.