Kelp DAO Restaked ETH (RSETH)

Kelp DAO Restaked ETH (RSETH) is a liquid restaking token (LRT) issued by Kelp DAO, a restaking product built by KernelDAO. It is an ERC-20 token native to Ethereum, minted when users deposit ETH or liquid staking tokens such as stETH or rETH into Kelp’s vaults. Those deposits are restaked through EigenLayer to help secure additional Actively Validated Services (AVS) on top of Ethereum, and rsETH represents a claim on the underlying deposited assets plus the staking and restaking rewards they accrue over time.

Unlike a simple 1:1 wrapper, rsETH’s value tracks an exchange rate that rises as restaking rewards accumulate, and holders can redeem it for the underlying ETH or LSTs, subject to the withdrawal queues of the base staking and EigenLayer restaking protocols. While the core deposits and restaking activity settle on Ethereum mainnet, rsETH is also bridged to a number of Layer 2 networks, including Arbitrum, Optimism, and Base, so it can be used across a wider range of DeFi platforms without leaving the restaking position.