In case you haven’t heard, LST caps on EigenLayer will be unpaused for deposits starting 05 Feb, 12 PM PT. During the previous cap increase on 18 Dec 2023, each LST had a deposit limit of 200k. This time around, there are no deposit limits and the LST caps will remain open for only 4 days, until 09 Feb, 12 PM PT.

How does the Unpause Queue work?

You can start queueing up your LSTs with Kelp right away. Currently, two LSTs are open for deposits with rsETH.

• ETHx by Stader Labs
• sfrxETH by Frax Finance

Deposits for stETH by Lido Finance are currently paused owing to EigenLayer constraints.

Until the respective caps for each LST are met on Kelp, you’ll be able to deposit your assets. Once the caps unpause on EigenLayer, we’ll deposit them on your behalf while you start earning EigenLayer Points.

When you restake with Kelp, you also mint rsETH — a liquid restaked token (LRT) which enables you to participate further in DeFi. When you mint and hold rsETH, you also earn Kelp Miles in addition to EigenLayer Points.

Bonus Kelp Miles

Starting 18 Jan, for every rsETH that a user mints, they get 100,000 bonus Kelp Miles. This is in addition to the regular Kelp Miles they get for their deposits.

Here’s a quick example of how this plays out.

A few things to note:

• All new deposits made between 18 Jan and 09 Feb, 12 PM PT are eligible for this program
• This bonus is applicable for all the assets with caps currently open on Kelp, namely ETHx and sfrxETH
• If a user swaps/sells their rsETH in DeFi or tries to loop rsETH for added bonus, they will be deemed ineligible for this program
• Existing users who were awarded 1.25x boosted Kelp Miles between 12 Dec 2023 and 02 Jan 2024 will continue to get the 1.25x boost till 31 March

rsETH was designed to add liquidity, convenience and rewards to your restaking experience. With 100k bonus Kelp Miles and DeFi with rsETH going live soon, we’re all set to bring that to life for you.

Get in on this by joining the Unpause Queue. Ready to set sail?