KelpDAO Completes Operational Phase of rsETH Recovery Plan

KelpDAO has successfully completed the operational phase of its rsETH recovery plan, marking a significant milestone in restoring confidence in the liquid restaking asset's cross-chain backing infrastructure. The protocol's dashboard now displays a 100.01% $ETH backing ratio and full bridge lockbox coverage across both LayerZero and Chainlink infrastructure.

The recovery effort involved replenishing approximately 116,000 rsETH into the rsETH OFT adapter over the last two weeks with support from Aave. This process aimed to restore solvency and redemption reliability in the protocol, which has faced heightened scrutiny following multiple incidents across DeFi.