Introducing Kernel: The journey forward

Firstly, I wanted to convey our heartfelt regards to early users, core team and investors of Kelp. We have spent countless hours thinking through ways to expand Kelp and create the best strategic value for the Kelp ecosystem. We believe we have a compelling vision and clear roadmap that's summarized below.

Unveiling the Vision

We have always been inspired by the potential of restaking and the magnitude of innovation it can spur. Kelp's vision is to be at the forefront of the restaking space and constantly innovate delivering value to all stakeholders in the ecosystem.

Kelp will foray into restaking infrastructure (i.e. building & launching restaking protocols) across L1s with Kernel, while also expanding into automated vaults/ yield generation opportunities on top of restaked assets with Gain. Both products along with Kelp's LRT, rsETH, will enhance value to users while accruing value to one unified token.

We believe Kernel will capture tremendous value at the infrastructure level by nurturing an ecosystem of dApps/ middleware leveraging Kernel's security while growing a plethora of DeFi innovations and applications based on Kernel.

With Gain (DeFi/ CeFi vaults), we will enhance user experience and expand opportunities for crypto native and non-native users alike by launching innovative offerings leveraging restaking and the larger DeFi/ CeFi ecosystem.

Journey so far

Kelp was launched in Dec'24 as one of the first LRT protocols achieving USD 1.2 bn+ of restaked assets at peak. With >50k users, >80 DeFi opportunities and 10+ L2s integrated, Kelp has emerged as one of the largest liquid restaking protocols.

Kelp will continue to expand the plethora of DeFi, L2 integrations with its LRT, rsETH, making it one of the most utilized LRTs.

Expansion into restaking infrastructure with Kernel

Restaking has become one of the largest sectors by TVL and the number of applications being built on Ethereum over the past few months. However, restaking has barely started across other large L1 ecosystems including BNB, Solana, etc. There's billions of dollars of capital available to be restaked/ leveraged as economic security and significant # of builders and developers eager to build dApps and applications utilizing restaking.

Kernel aims to be the critical restaking infrastructure utilizing restaked assets from these ecosystems. To begin with, Kernel will aim to build a restaking protocol on BNB Chain leveraging BNB LSTs and staked BNB as an economic security. Over time, Kernel will expand to other L1s and potentially build critical applications that leverage Kernel's economic security.

Expansion into vaults with Gain

DeFi opportunities across L2s and mainnet have proliferated over the past few months. However, most of these opportunities are complex to understand and participate for common users. It requires sophisticated analysis and understanding of the complex protocols, L2 ecosystems, and bridges to fully take advantage of the multitude of airdrop and yield opportunities across these ecosystems. Most of today's solutions do not fully leverage the composability of crypto applications.

Gain, powered by Kelp, is designed to solve critical issues faced by users while fully leveraging the composability of crypto. Gain's first offering—Airdrop Gain—has been a huge success, amassing USD 130 mn+ TVL within a month after launch. Gain will implement and launch a plethora of automated vaults in the coming months in partnership with well known strategists.

Kernel & Kelp co-exist

For the next few months, Kernel and Kelp will co-exist as separate brands. Kernel will focus on building restaking protocols/ infrastructure for L1s while Kelp focuses on growing LRT (rsETH) and automated vaults with Gain.

In the long run, Kelp will be incorporated into the expanding Kernel ecosystem to offer a seamless suite of products unified by a single governance token.

We will ensure the current Kelp Miles farmers aren't diluted due to the launch of Kernel. The current season will come to an end soon with a snapshot and we will earmark a separate % of tokens for subsequent seasons after Kernel launch on BNB Chain.

Roadmap

Kernel will first launch on BNB Chain (supported by BNB Chain), utilizing BNB LSTs and restaked BNB as economic security. Several dApps/ applications utilizing Kernel's economic security and building DeFi applications are already working to launch along with Kernel. Timelines will be released soon.

Gain, powered by Kelp, will continue to launch several automated vaults leveraging restaked assets.

Further details regarding timelines, partnerships and more will be shared in subsequent articles.

We are grateful to the broader Ethereum and crypto community for inspiring us with continued innovation across restaking, consumer crypto infrastructure and the passion for building. Many thanks to all stakeholders in the Kelp ecosystem for your continued belief and support through our journey.

Amitej G
Founding contributor
Kelp & Kernel