The hardest week of my career.
And also the week I saw what this industry is truly made of.
We are contributing 2,000 ETH to DeFi United. Every rsETH holder will be made whole. That was always the only acceptable outcome for me personally.
To everyone who showed up, thank you.
DeFi United.
Community Update
The past few days have been relentless. With the support of our partners, allies and community, discussions are moving in the right direction. We want to address our community directly. We are actively progressing towards a suitable resolution.
Kelp was built on the core principle that users will always come first. This has been evident in our initial actions and will continue to be reflected in the updates to come, which we aim to deliver in a way that benefits everyone.
Over the past four days, our team, alongside partners and allies, has been operating around the clock and engaging closely with all involved parties. We have made meaningful progress across several paths forward in collaboration with key ecosystem partners.
This progress is reflected in concrete actions, including measures taken by the @arbitrum Security Council to freeze stolen funds and the swift involvement of @_SEAL_Org's SEAL 911 force in the initial investigation, providing all parties with clear and impartial insight into what occurred. While not all of this is visible publicly, the work continues steadily and with substance.
At present, all our attention and efforts are directed towards safeguarding our users and strengthening the protocol. Moments like this are defining not only for us but for the broader ecosystem. We believe it is our responsibility to pursue the most appropriate outcome for our users. We are grateful for the support and collaboration we have received from partners and the wider community.
We will continue to share concrete updates through our official channels as they become available.
- Team Kelp
As expected, LayerZero is deflecting responsibility that their own DVN node infrastructure was compromised and caused a $290M bridge exploit
They throw KelpDAO under the bus for the crime of trusting the LayerZero Labs DVN, a 1/1 setup they willingly supported and only blocked after getting hacked, all while claiming everything worked as designed
Claiming there was no contagion is just the cherry on top
Q1 was a big quarter. Most projects go quiet when markets slow down. We're doing the opposite.
Tomorrow we're walking through what shipped, what we learned, and what's coming in Q2. No fluff, just updates.
Bring your questions.
Less than 90 mins to go for the Jan recap AMA! ๐ฑ
Tune in for exciting updates from @GoneMultichain.
P.S. get ready for some hot alpha ๐
โฐ 2PM UTC
See you there!
https://t.co/IvM5E3Vddz
Turbocharge your rsETH with @Contango_xyz! ๐
What used to take multiple manual actions to loop rsETH now happens in one click.
Clean rsETH leverage - up to ~14x - executed instantly on @aave v3 - Core via Contango.
The unlock isnโt just higher leverage.
Itโs removing manual execution while deploying size.
wrsETH is now the #1 ETH asset on @aave v3 - @LineaBuild market with $360M+ supplied! ๐ป
This is our 4th maxed supply cap. Each cap increase gets eaten up in days.
New cap just opened. Moving fast.
Deposit while there's still room.
โ https://t.co/8vPQRLb7kC
Restaking is now a 2-step game ๐ฏ
Step 1: Swap stables to @SolvProtocol's solvBTC on @CoinbaseWallet
Step 2: Connect to Kernel & restake
That's literally it. Watch how easy this is ๐
The evolution is here. The age of verifiable apps has begun.
Introducing EigenCloud, a platform for verifiable apps, services, and AI, built on EigenLayer, secured by the EIGEN token. โ๏ธ
Crypto has spent a decade building trustless infrastructure.
Now it's time to build on it.
The market's down? Good. Noise fades. Builders build.
At @staderlabs, @Kernel_DAO & @KelpDAO, weโre not here for the hype. weโre here for the next wave.