Kelp
Total Value Locked$1.183b
TVL by Chain
Ethereum$895.14m
Arbitrum$279.49m
Base$4.02m
Zircuit$1.82m
Scroll$1.25m
Swellchain$495,570
ZKsync Era$288,921
Blast$145,024
Mode$100,063
OP Mainnet$62,280
Hemi$39,651
Linea$30,419
Sonic$19,143
Berachain$8,401
Manta$8,005
X Layer$780.31
Key Metrics
Fees (Annualized)$38.7m
Fees 30d$3.17m
Fees 7d$800,384
Fees 24h$127,979
Cumulative Fees$57.62m
Revenue (Annualized)$3.39m
Revenue 30d$278,176
Revenue 7d$140,839
Revenue 24h$6,759
Cumulative Revenue$4.57m
Holders Revenue (Annualized)$0
Holders Revenue 30d$0
Holders Revenue 7d$0
Holders Revenue 24h$0
Cumulative Holders Revenue$753
Total Raised$9m
May 22, 2024$9mRound: PrivateInvestors: SCB Limited, Laser Digital, Bankless Ventures, Hypersphere Ventures, Draper Dragon, DACM, Cypher Capital, ArkStream Capital, Cluster Capital, GSR, Longhash Ventures, Side Door Ventures, NOIA Capital, HTX Ventures, Avid3, ViaBTC Capital, DWF Ventures, Coinseeker.co, Tulipa Capital , Scott Moore, Alex Karl Svanevik, Sam Kazemian, Marc Zeller, Amrit Kumar, Anthony Lesoismein, Winslow StrongSource: https://x.com/KelpDAO/status/1793281393080057960
Protocol Information
Kelp is the second largest liquid restaking protocol with ~$2B+ in TVL. Its liquid restaked token, rsETH, is live across 10+ major L2s and 40+ DeFi platforms, allowing users to restake while maintaining full liquidity.
Category:Liquid Restaking
Audits:
Methodology
TVL: deposited LSTs in deposit pool, node delegator contracts and from them into eigenlayer strategy contractsView code on GitHubFees: Sum of total staking rewards from rsETH (ETH staking rewards + EIGEN rewards), agETH management fees, and hgETH management/performance fees.View code on GitHubRevenue: Protocol fees from rsETH (3.5% of staking rewards), agETH management fees (2%), hgETH management fees (1.5%), and hgETH performance fees (20% of positive rate delta).View code on GitHubHolders Revenue: View code on GitHubIncome Statement for Kelp
| Q4 2025* | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | |
|---|---|---|---|---|---|
| Fees | $10.01m | $15.54m | $10.02m | $14.92m | $7.12m |
| Revenue | $1m | $1.29m | $682,049 | $1.04m | $554,692 |
| Earnings | $1m | $1.29m | $682,049 | $1.04m | $554,692 |
| Token Holder Net Income | $634 | $119 | $0 | $0 | $0 |