2022 saw some major airdrops in crypto, but 2023 is shaping up to be an even bigger year for free token distributions. Projects like EigenLayer and KelpDAO have hinted at upcoming airdrops — but savvy DeFi users are finding ways to multiply their airdrop rewards.
Here’s how you can utilize KelpDAO and EigenLayer together for maximum airdrop eligibility through a dual rewards system.
Overview
EigenLayer and KelpDAO are two Ethereum-based protocols focused on optimized yield and liquid staking strategies.
- EigenLayer allows depositing tokens into “lossless staking tranches” to earn yield and governance rewards.
- KelpDAO enables a “liquid staking” mechanism to wrap staked ETH derivatives like stETH and ETHx to earn additional yield opportunities.
EigenLayer has an airdrop planned for active users when their new tranche caps open on December 18th. KelpDAO has also hinted at a future airdrop for Kelp token holders.
By utilizing both protocols together, you can maximize your eligibility for both airdrops while also earning dual rewards.
Step 1: Deposit into KelpDAO
Deposit stETH or ETHx into KelpDAO to mint rsETH. This “liquid staked ETH” can unlock extra yield opportunities.
Benefits:
- No deposit caps or limits to worry about
- Lower gas fees than depositing directly into EigenLayer
- Earn KelpDAO rewards and airdrop eligibility
Step 2: Wait for EigenLayer Deposits to Open
On December 18th, new EigenLayer tranche caps will open up. KelpDAO will automatically move your staked tokens into EigenLayer on your behalf.
This secures your spot in the high-demand EigenLayer tranches without having to pay the higher gas fees or compete for limited space.
Step 3: Earn Dual Rewards
Once your assets are deposited into both protocols, you’ll earn yield through:
- EigenLayer rewards and airdrop eligibility
- KelpDAO rewards and airdrop eligibility
- Extra rewards for taking advantage of this dual strategy
The compounding double rewards maximize your incentives for supporting both ecosystems.
Ready for Airdrop Season
Using the KelpDAO and EigenLayer strategy positions you for potentially massive airdrop rewards in 2023’s bullish airdrop season.
The dual rewards system incentivizes holding tokens to gain governance rights in both protocols as they scale and deliver value. And by earning bonus points as an early adopter, you’ll boost your claim to those free token distributions.
Put yourself in the best position to capitalize on the next wave of airdrops by deploying into this efficient andreward-maximizing approach.
