KelpDAO LTIPP Council Recommended Proposal

Link to Application

https://forum.arbitrum.foundation/t/kelpdao-ltipp-application-draft/21976/2

Council - 3/3 Yes Votes

Feedback

Wintermute Feedback)

KelpDAO’s application was very strong and scored well in most criteria. KelpDAO has seen extremely impressive growth for its age and presents a strong opportunity for Arbitrum to bring native restaking infrastructure to the ecosystem. We believe this is extremely important opportunity for Arbitrum to capture a competitive advantage over other L2s. Their KPIs, milestones, and goals are very clear and well justified. Their distribution mechanism is sound, however, will likely not provide any new data to the DAO. Lastly, their grant size is completely reasonable given the size of the protocol. We will be supporting this application.

GFX Feedback)

The applicant lays out a simple, but complete, plan to attract and then retain LSTs on Arbitrum. Kelp’s current success demonstrates an interest in the product, and that it meets a demand in the market. We recommend approving this grant to migrate some of that demand to Arbitrum.

GMX Feedback)

KelpDAO's application is comprehensive and has scored favorably in most aspects, with a reasonable grant size. It shows promising potential to enhance Arbitrum's native restaking infrastructure within the ecosystem. Considering prevailing market narratives, we believe that the application could be advantageous for Arbitrum if KelpDAO successfully achieves its milestones and KPIs. Their goals are clear, well-thought-out, and justified. KelpDAO has demonstrated product-market fit and addresses a significant demand in the current market landscape. We will be supporting this application.