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Venus ProtocolVenus Protocolby0xc444949e0054A23c44Fc45789738bdF64aed2391venusvanguard.dao

Support rsETH as collateral on Venus on Ethereum Mainnet

Voting ended almost 2 years agoSucceeded

Summary

Add support for the KelpDAO rsETH market to Venus Protocol on Ethereum Mainnet

Rationale

rsETH is a Liquid Restaked Token (LRT) issued by Kelp DAO designed to offer liquidity to illiquid assets deposited into restaking platforms, such as EigenLayer. It aims to address the risks and challenges posed by the current offering of restaking

Kelp has more than 300k ETH worth of assets restaked by over 25k users. DeFi integrations across Balancer, Uniswap, Curve, Pendle, and Maverick with $50Mn+ in liquidity Presence on 9 L2s including Arbitrum, Optimism, Blast, Scroll, and Mode LRTs are a great use case for Venus as it is one of the fastest-growing ecosystems.

With rsETH being one of the top LRTs, integrating it as a collateral asset will create new demand on Venus which will be beneficial for both protocols.

Additional details in forum post below.

Off-Chain Vote

For, please proceed.
424.49K XVS100%
Against, do not proceed.
0 XVS0%
Quorum:849%
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Discussion

Venus ProtocolSupport rsETH as collateral on Venus on Ethereum Mainnet

Timeline

Jun 04, 2024Proposal created
Jun 04, 2024Proposal vote started
Jun 05, 2024Proposal vote ended
Nov 15, 2024Proposal updated