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Kelp DAO Launches KEP Token to Reward EigenLayer Restakers

Kelp DAO, a project that supports restaking on EigenLayer, has recently announced an airdrop for those who have participated in restaking on EigenLayer. For every point earned by restaking, users can claim one KEP token. The airdrop has a total of 152 million KEP tokens, based on the number of points that users have earned, of which about 5 million tokens have been confirmed to be claimed. Kelp DAO charges a 0.5% fee for each KEP claim and plans to use this fee as an incentive for users to continue restaking through the protocol.

Points are a rising trend in the crypto space in recent months, used by projects to attract users, speculators, and airdrop hunters. And EigenLayer is one of them.

EigenLayer points worth $2.6 million have been traded on the Whale Market, a marketplace for points. With an average price of $0.17 per point, the total market value of EigenLayer points is estimated at $340 million.

Currently, one KEP token is also traded at $0.17, equal to the price of points on the Whale Market.

Kelp DAO is a project that emerged from the new segment of “restaking”, specifically from EigenLayer. It is also the first Liquid Restaked Token project on the crypto market. Kelp’s operations are also anchored on EigenLayer, so users who farm EigenLayer points also have the opportunity to receive airdrops from side projects.

EigenLayer is a protocol that allows the use of ETH and liquid staking tokens of Ethereum to validate other blockchain networks, essentially restaking these tokens. The project recently raised $100 million from a16z, demonstrating the potential of this segment.

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