Users deposit ETH or liquid staking tokens (stETH, ETHx, etc.) into Kelp and receive rsETH, a liquid restaking token. The deposited assets are delegated to EigenLayer operators to earn restaking rewards on top of base staking yields.

Kelp DAO is a liquid restaking protocol built on Ethereum and EigenLayer. It enables users to restake their ETH and liquid staking tokens while maintaining liquidity through the rsETH derivative token. Kelp was launched in December 2023.

Kelp DAO (part of KernelDAO) develops and governs the protocol. The protocol charges a 3.5% fee on staking rewards (revenue), as set by protocolFeeInBPS in the LRTConfig contract. Kelp DAO's $9M private sale was co-led by SCB Limited and Laser Digital, with participation from Bankless Ventures, Hypersphere Ventures, Cypher Capital, GSR, and others.

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Kelp DAO

# Active addresses (daily) Methodology

## Overview

Active addresses (daily) measures the number of unique addresses that make a transaction with a project, i.e. An application or a blockchain. Daily active addresses are measured over a fixed 24-hour window.

## Data sources

- Raw blockchain transaction records and metadata
- Smart contract events and program instructions
- Asset metadata for address and project identification

## Common calculation approaches

### Transaction-level identification
Unique addresses are extracted from the sender field of raw transaction records on blockchains such as Tron and Aptos. For networks including Solana, signer addresses are tracked from both successful and failed transactions—specifically from program instructions—to represent total daily demand.

### Event-based activity tracking
Activity is identified from specific smart contract interactions to measure engagement for individual applications or assets. For example, recipient addresses are extracted from ERC-20 `Transfer` events from World Mobile Token contracts on World Mobile Chain to proxy for active service subscribers.

### Multi-layer ecosystem aggregation
Daily user activity is combined across primary networks and their respective scaling solutions to provide an ecosystem-wide view. Transaction data is aggregated across multiple layers within the BNB Chain ecosystem to capture the total number of unique addresses interacting with the network.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique active addresses over a fixed 24-hour window.

Kelp DAO

Active addresses (daily)

Active addresses (daily)

Competitive landscape

Chain breakdown