At Kelp, our aim is to constantly innovate for the restaking and DeFi ecosystem at large. In this spirit, we are thrilled to announce the launch of Gain powered by Kelp, a revolutionary step forward in optimising rewards for users. This program enhances earning potential by providing streamlined access to multiple Layer 2 (L2) airdrops and DeFi opportunities through a single, diversified strategy.

Introducing Gain by Kelp

Kelp Gain acts as your degen concierge, offering access to multiple L2 networks and DeFi protocols all at once. It simplifies participation in airdrop opportunities and DeFi strategies without the need for constantly monitoring individual positions. With just one click, users can unlock a world of high-growth opportunities.

What is Gain?

Essentially, Gain can be understood as a vault (or a series of vaults, who knows?) that we’ve given a unique spin to. Vaults are smart contracts that automate asset deployments according to prescribed reward farming strategies with the objective of maximising rewards while mitigating risks.

Kelp’s vaults are non-custodial, allowing users to withdraw at any time while providing complete transparency regarding the deployment of their assets. As Kelp’s infrastructure partner, August has assisted in building the smart contracts for the vaults while Tulipa Capital is the strategy manager.

Presenting Airdrop Gain

This edition of Gain by Kelp is called Airdrop Gain, since it aggregates token and point rewards from multiple L2 networks while enabling access to mainnet DeFi opportunities.

This has been built in collaboration with the following partners:

• L2 partners: Linea, Scroll

• Restaking partners: Karak, EigenLayer

• DeFi partner: Pendle, Lyra, Splice, Spectra

• Bridge partner: LayerZero, Across

• Strategy manager: Tulipa

• Infra partner: August

The list of partners, especially on L2s and DeFi is non-exhaustive and may continue to have top protocols included. Currently, Airdrop gain will accept the following assets:

• Native ETH

• rsETH by Kelp DAO

• ETHx by Stader Labs

• stETH by Lido Finance

How does it work?

It’s super simple, really. All you have to do is deposit and mint, and we do the rest.

1. Deposit asset: Users deposit the asset of their choice (ETH, rsETH, ETHx, stETH) to Gain

2. Mint liquid token: Liquid token agETH is issued against the user-deposited assets

3. Bridge assets: Deposited assets are bridged to partner L2s by Kelp for boosted airdrop earning potential

4. Automated allocation: Allocation of deposited assets is automatically adjusted by vault strategist to optimize airdrop earning

5. Deploy to mainnet DeFi: You can deploy issued agETH to DeFi opportunities for mainnet DeFi and partner L2 rewards

Introducing agETH

Users can use the vault LP token (agETH) with Pendle to earn fixed rewards with PT and speculate on the airdrops with YT. Additionally, there are DeFi opportunities on partner L2 core markets such as Lyra, Spectra and Splice, with more coming right up! This allows you to maintain liquidity to participate in DeFi even after participating in Gain.

Why is Gain a unique innovation?

Gain solves a lot of problems in the DeFi ecosystem, especially for users who use their time, effort and money in tracking airdrops. Mainly Gain's features are:

• Multi-L2 airdrop access: Gain access to a variety of L2 airdrops through a single, diversified strategy

• Seamless DeFi integration: Engage in multiple DeFi strategies via a single liquid token, enhancing reward opportunities

• Reward-accruing token: Receive agETH, a rewarding-accruing token that can be used across DeFi platforms for additional rewards

• Automated management: Gain leverages smart contracts to automate asset deployments, ensuring optimised returns with minimal effort

• Cost efficiency: Reduce gas fees and simplify position management, especially beneficial for smaller ticket-size users

• Diverse partnerships: Collaborate with top L2 networks and DeFi partners to maximise rewards

We’re excited to bring this unique and rewarding solution to you. Shortly, we’ll release detailed FAQs and behind the scenes on tech. Until then stay tuned for more updates and join us on our community channels. For any questions, please feel free to reach out to us on X (formerly Twitter), Telegram and Discord.