Kelp Dao protocol
Overview
Kelp DAO is a liquid restaking protocol built on Ethereum. It accepts deposits of ETH or liquid staking tokens (e.g., stETH) and issues rsETH, a liquid restaked token representing the deposited assets plus restaking rewards from EigenLayer. The protocol enables users to participate in EigenLayer restaking while maintaining liquidity. On 2026-04-18, Kelp DAO's LayerZero-powered bridge was exploited for roughly $292M (about 116,500 rsETH) — the largest DeFi hack of 2026 — after a compromised 1-of-1 DVN verification setup let the attacker drain rsETH across 20+ chains; the team paused contracts and rsETH temporarily lost part of its backing before recovery efforts began.
Within the DeFi Intel graph, Kelp Dao connects to 14 tracked entities, most strongly to EigenLayer, rsETH, Kelp Dao Exploit.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 8 of 14 total).
| Relation | Connected entity | Confidence |
|---|---|---|
restakes_on | EigenLayer | 95% |
issues | rsETH | 95% |
affected_by | Kelp Dao Exploit | 95% |
partnered_with | Swellchain | 90% |
deployed_on | Ethereum | 85% |
integrates | EigenLayer | 85% |
competes_with | Renzo | 85% |
provides_underlying_for | Pendle Finance | 85% |
Frequently asked questions
What is Kelp Dao?
Kelp Dao is a liquid restaking protocol that issues rsETH against deposits of ETH or liquid staking tokens, integrating with EigenLayer to earn restaking rewards.
How does rsETH maintain its peg?
rsETH does not maintain a fixed peg; its value floats relative to ETH based on the underlying deposited assets and accrued restaking rewards.
How does Kelp Dao interact with EigenLayer?
Kelp Dao deposits user assets into EigenLayer's restaking pools, and rsETH represents a proportional claim on those deposits along with any rewards generated.
What is Kelp Dao connected to?
In the DeFi Intel knowledge graph, Kelp Dao is linked to 14 other tracked entities, most strongly to EigenLayer, rsETH, Kelp Dao Exploit.
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