To further strengthen the security of rsETH, we have decided to integrate Chainlink Proof of Reserve (PoR) Secure Mint to help prevent any excess minting of rsETH. In addition to security guarantees built into the minting function of rsETH, lending protocols will also be able to leverage Chainlink PoR to independently verify rsETH reserves in real time, giving users the confidence to support rsETH in their own markets while upholding the highest standards of security and reliability. 

We decided to integrate Chainlink because it is the standard for onchain finance that has enabled over $20T in transaction value and secured tens of billions in value for leading DeFi protocols. Chainlink PoR’s highly secure and reliable infrastructure helps enforce 1:1 collateralization at the smart contract level as reserves must meet or exceed the amount being minted or the transaction reverts.

Chainlink PoR Secure Mint adds a critical layer of automated verification and protection, ensuring that only fully collateralized tokens enter circulation. 

Key benefits of Chainlink Proof of Reserve include:

• Secure Minting — With Proof of Reserve directly integrated into Kelp’s minting function, this will help protect against malicious minting by embedding cryptographic guarantees that new tokens minted are fully backed by reserves, helping to prevent infinite mint attacks and more.

• Multiple Layers of Decentralization — Chainlink Proof of Reserve Feeds are decentralized at the data source and oracle node level, eliminating central points of failure in the sourcing and delivery of external data onchain.

• Increased Transparency Around Asset Reserves — Chainlink Proof of Reserve Feeds can be monitored by anyone in real-time, allowing any user to independently verify asset collateralization, bringing increased transparency and trust to onchain products.

• Programmatic Utility — By bringing reserve data onchain, protocols can build automated logic around the reserve data backing an asset thus building new use cases and features such as automated onchain risk management.

“Kelp integrating Chainlink Proof of Reserve Secure Mint is a prime example of how tokenized asset issuers can embed cryptographic guarantees directly into their assets. By adopting Chainlink, Kelp is helping set a higher bar for security, transparency, and reliability in the DeFi space—ensuring that rsETH is backed, verifiable, and built to scale.”—Johann Eid, Chief Business Officer at Chainlink Labs

“Chainlink Proof of Reserve is the industry standard for a reason, so integrating Secure Mint to enhance the reliability of Kelp and prevent the overminting of rsETH is an obvious choice. Proof of Reserve will secure the rsETH minting function, which is a critical step to providing enhanced transparency and security to Kelp users. We look forward to the stronger guarantees and increased transparency the Chainlink standard will bring to our users.”—[Dheeraj B, CTO KernelDAO]

About Chainlink

Chainlink is the standard for onchain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $20 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors. Learn more by visiting chain.link.

About Kelp

Kelp is the second-largest liquid restaking protocol within the KernelDAO ecosystem, securing over $2B in TVL. Its liquid restaked token, rsETH, operates across 10+ major L2s and integrates with 40+ DeFi platforms, enabling users to maintain full liquidity while earning staking rewards. The protocol offers additional reward opportunities through integration with various DeFi protocols.