Kelp Launches “Gain” Yield Optimizer

How Does Gain Work?

Gain users deposit supported assets such as rsETH into its vaults, which deploys these assets across partnered L2 networks for optimized yield farming and points earnings. 

These points are typically redeemable for an eventual airdrop of tokens when the respective platform launches a governance token. 

One of the key features of Gain is that it issues depositors with a liquid token, agETH, which represents a claim on their share of deposits within the vaults. agETH can be used within the wider DeFi ecosystem to further enhance returns.

Users can withdraw their funds from the vaults at any time, or simply sell their agETH on the open market to exit their position.

Flagship Vault

Gain’s flagship vault is its Airdrop Gain Vault, which allows users to participate in multiple L2 airdrops through a single, diversified strategy.

Users can deposit ETH, stETH, ETHx, and rsETH and receive agETH, a liquid reward-accruing token that can be used within the DeFi ecosystem.

To begin, the Airdrop Gain Vault is allocating 45% of deposits to Linea, 35% to Scroll, and 20% to Karak strategies. The vault will take a 2% share of rewards earned by users.

Strong Partnerships

Kelp hasn’t built Gain alone, instead partnering with several industry players for each aspect of the product. 

These partners include:

• August (previously Fractal Clearing): Provides the underlying infrastructure.
• Tulipa Capital: Management of Gain vault strategies to maximize returns for users. 
• LayerZero: Supporting interoperability across L2 networks.

The platform also integrates with DeFi partners such as Pendle, Balancer, and Uniswap, allowing users to leverage agETH in various yield strategies.

Conclusion

Gain makes it easy for anyone to participate in activity across various emerging layer 2 networks, earning points and boosting their chances of receiving future airdrops on those platforms. 

This can all be done while earning staking rewards on ETH, as well as EigenLayer Points and Kelp Miles on rsETH.

About Kelp

Kelp is a liquid restaking protocol with over $700 million in total value locked (TVL). It allows users to maximize their staking rewards by restaking ETH, stETH, and ETHx on EigenLayer, with user stakes represented as rsETH – a liquid restaking token that can be used throughout the DeFi ecosystem. 

rsETH integrates with various other DeFi platforms to provide liquidity pooling options for additional rewards and accessible swaps.

Alex Miguel

Alex is a writer and DeFi enthusiast who has been in the space since 2016. He has written whitepapers, press releases, and social media content for several projects in the space.