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SturdySturdyby0xFd1D36995d76c0F75bbe4637C84C06E4A68bBB3asturdyfi.eth

[SIP-017] Whitelist Kelp aggregator and silos

Voting ended almost 2 years agoSucceeded

Summary

This proposal seeks to whitelist the Kelp aggregator and silos on the Sturdy UI.

About rsETH & Kelp

Kelp DAO is a decentralized, non-custodial liquid staking protocol built on Ethereum. It allows users to restake their ETH and LSTs (stETH, ETHx, and sfrxETH) and participate in the DeFi ecosystem with the help of rsETH. Kelp’s rsETH is a liquid restaking token that represents the underlying assets restaked with EigenLayer. Users can deposit ETH or the supported LSTs on the Kelp dApp on Ethereum Mainnet to mint rsETH, hold rsETH to accrue rewards, and use rsETH within DeFi or swap it back to any underlying asset at any time via the liquidity pool.

TVL: $750 Mn+ ETH Restaked: 190k Number of users: 18k+ Assets Supported: ETH, stETH, ETHx, sfrxETH

Silos

Kelp proposes to add the following to the Sturdy UI.

Silo 1

Network: Ethereum Mainnet Lending/borrowing asset: WETH

Collateral asset: rsETH

LTV: 90%

Liquidation fee: 3%

Silo 2

Network: Ethereum Mainnet Lending/borrowing asset: WETH

Collateral asset: PT-rsETH (generated on Pendle)

LTV: 85%

Liquidation fee: 5%

Aggregator

Lending asset: WETH

Initial whitelisted silos: rsETH, PT-rsETH

Off-Chain Vote

Approve
122.69K STRDY100%
Reject
0 STRDY0%
Quorum:123%
Download mobile app to vote

Timeline

Mar 18, 2024Proposal created
Mar 18, 2024Proposal vote started
Mar 21, 2024Proposal vote ended
May 07, 2024Proposal updated