At Kelp, we’re all about maximizing your DeFi participation and rewards. Whether you’re new to agETH or looking for a refresher, this guide will walk you through everything you need to know.
What is agETH?
agETH is Airdrop Gain’s receipt token, designed to unlock a multi-layered reward system while maintaining liquidity. By depositing accepted assets like rsETH, ETH, ETHx, or stETH, you receive agETH, which opens the door to exciting DeFi rewards and opportunities across multiple Layer 2 (L2) networks such as Linea, Scroll, and Arbitrum. With agETH, you get access to various DeFi rewards without compromising on flexibility.
How do I get agETH on L2s?
You can get agETH on L2s in two primary ways:
- Direct Minting: Deposit assets like rsETH or ETH directly on supported L2s (Linea, Scroll, Arbitrum) and mint agETH natively.
- Bridging: If you already hold agETH on Ethereum, you can bridge it to these L2s using Axelar’s Squid bridge.
Upon bridging, you’ll receive agETH.axl on the destination L2, which you can then wrap into agETH via the Kelp dApp.
Why should I get agETH on L2s?
By holding agETH on L2s like Scroll and Linea, users unlock an additional layer of rewards. Along with the points you earn for holding agETH positions on Ethereum, holding agETH on these L2s gives you extra points on top of those, enhancing your rewards. This means greater DeFi opportunities and added incentives for participating in the L2 ecosystems.
What assets can I use to mint agETH on L2s?
Here are the supported assets for minting agETH across L2s:
- Arbitrum: ETH, rsETH
- Linea: ETH, wrsETH
- Scroll: ETH, wrsETH
Simply deposit any of these assets on the respective L2 and receive agETH in return, ready for DeFi participation.
What rewards do I get for holding agETH?
Holding and using agETH unlocks multiple rewards across various networks. Here’s a breakdown:
- Kelp Miles: Earn 3x Kelp Miles just by holding or using agETH.
- Karak Network XP: Receive 3x Karak XP for minting or bridging agETH.
- LXP-L Boost: Get a 15% boost on LXP-L from Linea.
- Scroll Marks: Earn Top Scroll Marks on Scroll.
- 300K $AXL: Gain a share of 300K $AXL from Axelar for minting or bridging agETH across L2s.
- DeFi Rewards: Unlock additional rewards from DeFi protocols on mainnet and L2s.
What are the incentives for bridging or minting agETH with Axelar?
With Axelar, you can earn 50 $AXL for every agETH you bridge to supported Layer 2s like Scroll, Linea, and Arbitrum, with a total pool of 300K $AXL available as incentives when holding over 90 days. Additionally:
- Scroll Users: Enjoy a $50K USDC pool as part of Scroll’s Level Up program, alongside extra Scroll Marks.
- Linea Users: Receive additional LXP-L rewards for minting or bridging agETH.
These rewards provide a great incentive to participate in cross-chain DeFi with agETH!
What DeFi opportunities are available for agETH holders?
Once you hold agETH, you can participate in various DeFi opportunities on both Ethereum Mainnet and L2s. Here’s a look at where you can put your agETH to work:
- Ethereum Mainnet: Pendle, Balancer, Yearn, Spectra
- Linea (L2): Nile Exchange
- Scroll (L2): Nuri Exchange
- Arbitrum (L2): Camelot DEX
New opportunities are going live soon, including Rho Markets on Scroll and Zerolend on Linea, so stay tuned!
Why is the Axelar significant for agETH?
Axelar enhances agETH’s cross-chain capabilities, allowing you to bridge agETH between Ethereum mainnet and L2s like Linea, Scroll, and Arbitrum seamlessly. With Axelar’s Squid bridge, agETH holders can unlock:
- Cross-chain liquidity: Move agETH across multiple L2s and participate in DeFi without fragmentation.
- Exclusive incentives: Access 300K $AXL rewards for bridging and minting agETH.
- Seamless bridging: Easily transfer agETH between networks and wrap it into agETH for full DeFi functionality.
How can I use agETH in DeFi?
agETH is designed to be used across multiple DeFi protocols to maximize your rewards. Here are some ways to use agETH in DeFi:
- Lending and Borrowing: Use agETH as collateral or in liquidity pools.
- Yield Farming: Stake agETH in yield farms to earn partner tokens like Kelp Miles and EigenLayer Points.
- DeFi Protocols: Deploy agETH in platforms like Pendle, Balancer, Nuri Exchange, Nile Exchange, Camelot DEX, and more.
Ready to get started with agETH?
Whether you’re minting or bridging, agETH offers powerful opportunities to participate in DeFi across multiple L2s while earning rewards. Explore the full range of agETH’s benefits, start gaining today, and enjoy flexible DeFi strategies.