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Cryptocurrency News Articles
Liquid Staking Platform Kelp DAO Launches Its Gain Program, Allowing Users to Earn Airdrops and Other Rewards
Aug 15, 2024 at 05:29 pm
According to an Aug. 13 announcement, Kelp's Gain allows users to access streamlined strategies to earn additional rewards from their liquid staking efforts.
Liquid staking platform Kelp DAO is launching its Gain program, allowing users to earn airdrops and other rewards.
According to an Aug. 13 announcement, Kelp’s Gain aims to provide users with streamlined strategies to earn additional rewards from their liquid staking efforts. Initially, the Gain program will feature the Airdrop Gain Vault, which simplifies participation in airdrop opportunities across various layer two protocols without the need to manage individual positions.
It's time. Gain powered by Kelp is now live!
Your degen concierge is at your service.
Our first offering? Airdrop Gain 🪂
One click, endless possibilities. And there's also a token!
Here's everything you need to know. 👇 pic.twitter.com/2Pk49h6wne
Kelp Gain Vaults use smart contracts to manage asset deployments and maximize airdrops and rewards across multiple layer two protocols. User deposits are represented by on-chain tokens, which are then used to handle the stake.
Assets deposited in the vault are allocated to curated reward-earning opportunities, and their distribution is re-adjusted over time to maximize the amount of value earned while minimizing risk.
According to Kelp, this approach offers Vault users access to L2 airdrops but paired with the composability of DeFi. Amitej G, Co-founder of Kelp DAO, commented:
"By focusing on targeted strategies and integrating with both L2 protocols and mainnet DeFi yields, we are providing users with a comprehensive, automated solution to maximize rewards potential. This collaboration with our range of partners ensures users benefit from streamlined access to high-growth opportunities with minimal effort."
The Airdrop Gain Vault will be dedicated to users willing to deposit assets such as Ethereum or KelpDAO’s restacked Ethereum (rsETH). Deposits are represented as agETH tokens. Those assets are then bridged to partner layer twos to enhance airdrop potential.
Moreover, this vault also integrates with mainnet decentralized finance (DeFi) yield earning, meaning users who deposit their ETH or rsETH can simultaneously participate in multiple DeFi strategies without engaging in complicated strategy building.
The reward-bearing agETH token can also be deployed on DeFi protocols such as Pendle to earn additional fixed yields or speculate on airdrops by earning multi-fold points.
The Airdrop Gain Vault is a result of a partnership with institutional crypto platform August as the smart contract developer and Tilapia Capital as the lead strategy partner. Further layer two and DeFi partners include Linea, Karak, Scroll, Pendle, Across, LZ, Spectra, Lyra, and multiple decentralized exchanges.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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