We are excited to kickstart highly anticipated DeFi opportunities with rsETH. DeFi enables users to do more with what they have while earning EigenLayer Points and Kelp Miles. This is why new paradigms like liquid restaking are important. With rsETH DeFi, you can swap, provide liquidity, and get leverage in DeFi.
This blog covers the upcoming DeFi opportunities with rsETH and all things rsETH users need to know about Eigen Layer points and Kelp miles distribution.
Upcoming DeFi opportunities with rsETH
DeFi opportunities are already live and have great rewards for holders to engage.
Users can access the rsETH<>ETHx and rsETH<>sfrxETH pools immediately.
We also plan on launching many DeFi opportunities in the coming weeks, a few of which are listed below.
As Kelp Miles and EigenLayer’s points are at the center stage of rewards for DeFi opportunities of rsETH, it is important to understand how the distribution happens now and after 29th.
Let’s jump right into it.
All you need to know about EigenLayer Points and Kelp Miles
EL Points and Kelp Miles have been allotted to wallets that minted rsETH. This will continue till the 28th of Jan (day prior to next EigenLayer cap raise).
For increased DeFi and L2 access, starting 05 Feb 2024, all wallets holding rsETH tokens get EigenLayer Points and Kelp Miles every day. This is irrespective of how the rsETH is obtained or utilized, including:
- Minting rsETH on Kelp
- Buying rsETH from DEXes
- Users bridging to supported L2s
- Providing liquidity across DeFi protocols
- Transferring assets between addresses
How will boosts work?
- Boosted Kelp Miles will continue to accrue to wallets that minted rsETH
- Boosted Kelp miles to users/wallets depositing rsETH across Liquidity pools, DeFi protocols will accrue to the wallet holding the respective DeFi positions
Please note:
- Wallets selling rsETH on DEXes within 2 months after minting leads to disqualification from the boost program
For detailed information on the distribution mechanism, check out our docs.
rsETH was designed to add liquidity, convenience, and rewards to your restaking experience. Restake now to garner the benefits and become part of the restaking ecosystem.
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