Kelp DAO Introduces rsETH Liquid Restaking

A liquid restaked token that can be minted against LSTs approved as collateral on EigenLayer.

Kelp DAO Introduces rsETH Liquid Restaking

Quick Take

  • Kelp DAO introduces rsETH liquid restaking.
  • Pyth Network announces its PYTH token airdrop.
  • EigenLayer begins its LST contest.
  • Rarible introduces marketplace-as-a-service.

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Kelp DAO Introduces rsETH Liquid Restaking

Kelp DAO, a collective focused on maximizing rewards from staked assets, has introduced rsETH, a liquid restaked token that can be minted against LSTs approved as collateral on EigenLayer. Restaking permits Ethereum validators to allocate their staked ETH to secondary services in exchange for earned rewards. Liquid restaking increases the liquidity of staked assets. rsETH enables fractional ownership of the restaked assets, simplifies access to restaking, and fosters deeper integrations with DeFi. rsETH is currently on testnet. Kelp plans to complete security audits and form key partnerships ahead of a mainnet launch.

Pyth Network Announces PYTH Token Airdrop

Pyth Network, a provider of offchain price feed oracles, unveiled its native PYTH token alongside a retrospective airdrop. Eligibile users include those who used any application that uses Pyth's data across any of the 27 supported blockchains. The applications will also be granted an allocation of the token airdrop. Out of the 10 billion PYTH token supply, 6% is allocated for the airdrop campaign, benefiting 75,000 eligible wallets. The PYTH token is not yet live and the date for claiming is yet to be announced. Pyth Network aims to stimulate governance participation to transition the network towards a decentralized and permissionless state.

EigenLayer LST Race Begins

The voting phase for the EigenLayer LST contest is now open. To be listed as a collateral type on EigenLayer, LSTs must reach a minimum of 15,000 ETH in community votes. EigenLayer will then integrate eligible LSTs sequentially over the coming months. LSTs with the highest vote counts will be prioritized for integration. Users who held LSTs at the snapshot date can vote in the contest. The voting power each user possesses corresponds to the USD value of LSTs held during the snapshot, with each dollar equating to one vote. Voting will remain open for a duration of seven days, ending on November 8th at 12pm EST.

Rarible X Marketplace-As-A-Service

Aggregated NFT marketplace Rarible introduced Rarible X, a marketplace-as-aservice platform for launching custom NFT marketplaces. Rarible anticipates that the next market cycle will extend NFT use cases beyond PFPs, requiring tailored user experiences. Rarible X allows paying users to deploy custom front ends, access marketplace insights, and multichain support.

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