Total Value Locked$664.58m
TVL by Chain
Ethereum$664.58m
Key Metrics
Fees 30d$2.02m
Fees 30d by chain
Ethereum$1.93m
Arbitrum$91,763
Scroll$1,085
ZKsync Era$178.04
Blast$95.67
OP Mainnet$57.66
Linea$34.28
Base$18.56
Fees 7d$375,414
Ethereum$357,511
Arbitrum$17,637
Scroll$209
ZKsync Era$33.95
OP Mainnet$11.11
Linea$6.60
Base$3.57
Fees 24h$32,528
Ethereum$30,951
Arbitrum$1,554
Scroll$18
ZKsync Era$3.03
OP Mainnet$0.98
Linea$0.58
Base$0.32
Cumulative Fees$89.04m
Ethereum$82.56m
Arbitrum$3.3m
Linea$1.49m
Base$1.39m
Scroll$130,267
OP Mainnet$71,220
ZKsync Era$70,827
Blast$23,431
Revenue 30d$101,019
Revenue 30d by chain
Ethereum$96,361
Arbitrum$4,587
Scroll$54.21
ZKsync Era$8.93
Blast$4.74
OP Mainnet$2.85
Linea$1.73
Base$0.96
Revenue 7d$18,772
Ethereum$17,877
Arbitrum$882
Scroll$10.43
ZKsync Era$1.72
OP Mainnet$0.56
Linea$0.34
Base$0.19
Revenue 24h$1,627
Ethereum$1,548
Arbitrum$78
Scroll$0.92
ZKsync Era$0.15
OP Mainnet$0.05
Linea$0.03
Base$0.02
Cumulative Revenue$6.27m
Ethereum$6.03m
Arbitrum$125,679
Base$55,554
Linea$55,508
Scroll$5,101
ZKsync Era$2,511
OP Mainnet$2,421
Blast$873.66
Holders Revenue 30d$0
Holders Revenue 30d by chain
Arbitrum$0
Base$0
Blast$0
Ethereum$0
Linea$0
OP Mainnet$0
Scroll$0
ZKsync Era$0
Holders Revenue 7d$0
Arbitrum$0
Base$0
Ethereum$0
Linea$0
OP Mainnet$0
Scroll$0
ZKsync Era$0
Holders Revenue 24h$0
Arbitrum$0
Base$0
Ethereum$0
Linea$0
OP Mainnet$0
Scroll$0
ZKsync Era$0
Cumulative Holders Revenue$0
Arbitrum$0
Base$0
Blast$0
Ethereum$0
Linea$0
OP Mainnet$0
Scroll$0
ZKsync Era$0
Total Raised$9m
May 22, 2024$9mRound: PrivateInvestors: SCB Limited, Laser Digital, Bankless Ventures, Hypersphere Ventures, Draper Dragon, DACM, Cypher Capital, ArkStream Capital, Cluster Capital, GSR, Longhash Ventures, Side Door Ventures, NOIA Capital, HTX Ventures, Avid3, ViaBTC Capital, DWF Ventures, Coinseeker.co, Tulipa Capital, Scott Moore, Alex Karl Svanevik, Sam Kazemian, Marc Zeller, Amrit Kumar, Anthony Lesoismein, Winslow Strong
Protocol Information
Kelp is the second largest liquid restaking protocol with ~$2B+ in TVL. Its liquid restaked token, rsETH, is live across 10+ major L2s and 40+ DeFi platforms, allowing users to restake while maintaining full liquidity.
Part of KernelDAO
Audits:
Methodology
TVL: deposited LSTs in deposit pool, node delegator contracts and from them into eigenlayer strategy contractsView code on GitHubFees: Sum of total staking rewards from rsETH (ETH staking rewards + EIGEN rewards), agETH management fees, and hgETH management/performance fees.View code on GitHubRevenue: Protocol fees from rsETH (on-chain protocol fee on staking rewards), agETH management fees (2%), hgETH management fees (1.5%), and hgETH performance fees (20% of positive rate delta).View code on GitHubHolders Revenue: View code on GitHubYields
Pools Tracked1
Average Supply APY2.58%
Largest Pools by TVL
rsETHEthereum$658.1m
User Activity
Active Addresses (24h)5
Transactions (24h)5
Hacks
Date: Apr 18, 2026
Amount: $293m
Classification: Bridge & Cross-Chain
Technique: Cross-Chain Message Spoofing
On April 18, 2026, Kelp DAO's rsETH bridge was exploited for $293 million when attackers compromised LayerZero's RPC nodes via social engineering and injected fraudulent cross-chain messages. Kelp's 1-of-1 verifier configuration created a single point of failure, affecting validation across 20 chains. The attack was attributed to Lazarus Group.
Chains: Ethereum, Arbitrum
Bridge Hack
Language: Solidity
Target Type: DeFi Protocol
Competitors
Kelp history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Dec 21, 2023 to Nov 15, 2026.
All-time high TVL: $1.99b on Aug 14, 2025. All-time low TVL: $100.02m on Dec 21, 2023.
Daily TVL, Oct 17, 2026 to Nov 15, 2026
| Date | TVL |
|---|---|
| Oct 17, 2026 | $978.13m |
| Oct 18, 2026 | $971.66m |
| Oct 19, 2026 | $974.29m |
| Oct 20, 2026 | $956.84m |
| Oct 21, 2026 | $976.94m |
| Oct 22, 2026 | $988.22m |
| Oct 23, 2026 | $940.37m |
| Oct 24, 2026 | $935.13m |
| Oct 25, 2026 | $925.69m |
| Oct 26, 2026 | $913.61m |
| Oct 27, 2026 | $912.22m |
| Oct 28, 2026 | $922.16m |
| Oct 29, 2026 | $924.55m |
| Oct 30, 2026 | $865.73m |
| Oct 31, 2026 | $855.94m |
| Nov 1, 2026 | $860.04m |
| Nov 2, 2026 | $866.95m |
| Nov 3, 2026 | $858.12m |
| Nov 4, 2026 | $865.62m |
| Nov 5, 2026 | $910.6m |
| Nov 6, 2026 | $841.84m |
| Nov 7, 2026 | $841.89m |
| Nov 8, 2026 | $840.52m |
| Nov 9, 2026 | $804.12m |
| Nov 10, 2026 | $794.37m |
| Nov 11, 2026 | $761.57m |
| Nov 12, 2026 | $756.96m |
| Nov 13, 2026 | $737.94m |
| Nov 14, 2026 | $707.11m |
| Nov 15, 2026 | $642.73m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $1.595b |
| Jan 31, 2025 | $1.701b |
| Feb 28, 2025 | $1.248b |
| Mar 31, 2025 | $1.058b |
| Apr 30, 2025 | $991.96m |
| May 31, 2025 | $1.128b |
| Jun 30, 2025 | $1.097b |
| Jul 31, 2025 | $1.629b |
| Aug 31, 2025 | $1.755b |
| Sep 30, 2025 | $1.458b |
| Oct 31, 2025 | $1.153b |
| Nov 30, 2025 | $781.24m |
| Dec 31, 2025 | $804.71m |
| Jan 31, 2026 | $1.391b |
| Feb 28, 2026 | $1.005b |
| Mar 31, 2026 | $1.136b |
| Apr 30, 2026 | $1.518b |
| May 31, 2026 | $1.321b |
| Jun 30, 2026 | $889.03m |
| Jul 31, 2026 | $904.18m |
| Aug 31, 2026 | $1.078b |
| Sep 30, 2026 | $1.121b |
| Oct 31, 2026 | $855.94m |
| Nov 15, 2026 (latest) | $642.73m |
TVL at each year end, Dec 31, 2023 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $138.72m |
| Dec 31, 2024 | $1.595b |
| Dec 31, 2025 | $804.71m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $5.72m | $425,855 | $0 |
| Jan 2025 | $6.62m | $532,460 | $0 |
| Feb 2025 | $4.7m | $284,463 | $0 |
| Mar 2025 | $3.6m | $219,625 | $0 |
| Apr 2025 | $3.05m | $181,713 | $0 |
| May 2025 | $3.47m | $224,830 | $0 |
| Jun 2025 | $3.5m | $278,036 | $0 |
| Jul 2025 | $4.18m | $400,436 | $0 |
| Aug 2025 | $5.64m | $437,116 | $0 |
| Sep 2025 | $5.72m | $453,236 | $0 |
| Oct 2025 | $5.27m | $594,512 | $0 |
| Nov 2025 | $3.36m | $201,221 | $0 |
| Dec 2025 | $3.08m | $342,684 | $0 |
| Jan 2026 | $3.96m | $304,595 | $0 |
| Feb 2026 | $2.97m | $198,488 | $0 |
| Mar 2026 | $3.34m | $196,211 | $0 |
| Apr 2026 | $1.91m | $95,621 | $0 |
| May 2026 | $4.96m | $215,888 | $0 |
| Jun 2026 | $2.57m | $103,869 | $0 |
| Jul 2026 | $2.2m | $91,994 | $0 |
| Aug 2026 | $2.23m | $93,483 | $0 |
| Sep 2026 | $2.44m | $111,419 | $0 |
| Oct 2026 | $2.34m | $116,821 | $0 |
| Nov 2026 (to date) | $841,925 | $42,096 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/kelp
Frequently asked questions
What is Kelp's TVL?
As of Nov 15, 2026, Kelp has $664.58m in total value locked. TVL has decreased 33.1% over the past 30 days.
What chains does Kelp operate on?
Kelp operates on 8 chains: Ethereum, Arbitrum, Scroll, OP Mainnet, and Base and 3 others. Ethereum holds the largest share at 100%.
How much has Kelp generated in fees and revenue?
Over the past 30 days, Kelp generated $2.02m in fees. Of that, $101,019 was protocol revenue. Based on the trailing year, the annualized rate is $34.49m in fees and $1.97m in revenue.
How does Kelp's TVL compare to similar protocols?
Among Liquid Restaking protocols tracked by DefiLlama, Kelp ranks #1 by TVL. The category holds $871.92m across 27 protocols, and Kelp accounts for 76.2% of that total. Similar protocols include Renzo, Zero-G Finance, Affine Restaking, Mantle Restaking, Swell Liquid Restaking, Bedrock uniETH, Mellow Restaking, Puffer Stake, InceptionLRT (Isolated Restaking), and Eigenpie.
How many yield pools does Kelp have?
DefiLlama tracks 1 Kelp yield pool with an average APY of 2.6%.
Has Kelp ever been exploited?
Kelp has 1 recorded security incident. The most recent incident occurred on Apr 18, 2026 and involved $293m. It was classified as Bridge & Cross-Chain.