Project
Kelp DAO is a liquid restaking protocol that issues rsETH, letting users stake Ethereum-based assets while retaining liquidity across DeFi.
Crypto lending value locked has risen more than 55% since early July to about $56 billion, according to DeFiLlama data. Aave and Spark have pruned collateral to cap bridge and oracle exposure, though Aave's founder says no protocol can control the wider ecosystem.
Reality
Kelp DAO has sued LayerZero Labs and co-founder Bryan Pellegrino for negligence and misrepresentation over April's $292 million rsETH bridge exploit. The forged message cleared a bridge that trusted one LayerZero-run verifier, so the case tests who answers for that setup.
Reality
Chainlink's CCIP 2.0 cuts a transfer's default checks from two networks to one and lets institutions add their own verifiers back. Paying for the second check now falls to the bank or issuer, five months after a single-verifier bridge setup cost Kelp DAO $292 million.
Reality
The rebate ladder that recruits big exchanges also shrinks the burn: 60 cents of every fee dollar at the bottom tier, 26.25 cents at the top.
Reality
A Gnosis Safe lost $7.73M in rsETH on September 15 through an automation module its own owner had whitelisted, an MEV bot took the proceeds in the same block, and Kelp DAO froze the destination address for 24 hours.
Reality