Earn from real world commerce. KUSD launching soon. Backed by: @yzilabs , Laser Digital, SCB
Joined September 2023
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When the buyer pays the invoice, the loan is repaid from that payment, and the seller can avail loan again.
hgETH (High Growth Vault) update
UltraYield has decided to cease its role as the vault's strategy manager at 23:59 Singapore time on 18 October (15:59 UTC). Upshift, the vault's infrastructure partner since the inception of hgETH, will take over the management of the vault's operations for a seamless transition.
For holders:
• No action is needed. Your hgETH stays in your wallet.
• Withdrawals work as before: request on the vault page, and rsETH arrives in your wallet automatically after the 15 to 18 day redemption period.
Vault page: gain.kerneldao.com/vaults/gr…
hgETH contract (Ethereum): 0xc824A08dB624942c5E5F330d56530cD1598859fD
Kelp retweeted
We are excited to announce that the rsETH migration to @chainlink CCIP was completed on 5 October. rsETH now bridges between Ethereum and Base, Mantle, Ink, Linea and Optimism through CCIP.
We are excited to announce that the rsETH migration to @chainlink CCIP was completed on 5 October. rsETH now bridges between Ethereum and Base, Mantle, Ink, Linea and Optimism through CCIP.
To bridge, use the Kelp app, which routes through Chainlink's Transporter: kerneldao.com/kelp/bridge-wr…
Or go to Transporter: app.transporter.io
Token contracts on the five networks can be found below: docs.chain.link/ccip/directo…
Unwrapping wrsETH on these networks now returns CCIP rsETH.
$KUSD lends against trade. A company ships goods to a large buyer, the buyer pays weeks later, and the company needs the cash in between.
Some companies ask for more than their trade can support. When that happens, we offer a smaller loan that the trade can support, and the deal goes ahead
The four conditions protect the loan book, and they do not change. Resizing a deal is how we fund good companies without taking on more risk than their trade supports.
A lender that can only approve or decline in full would turn these companies away, or lend more than the trade can secure.
Today we filed a lawsuit against LayerZero and its co-founder, Bryan Pellegrino, to right the wrongs associated with the exploit of rsETH’s LayerZero bridge earlier this year. For more details, please refer to the statement below.
xitter.cf/KelpDAO/status/2103332…
Your agETH strategy update is here! 🌱
Last week's highlights:
⍛ Portfolio delivering 4.29% reward rate on ETH
⍛ 94% of capital in leveraged restaking on @aave
⍛ Arbitrum loops leading the book at 5.7%
Start earning → kelpdao.xyz/gain
We've detected potential suspicious activity on an the address (0xc70f00cd7e461686b04b0e912e309beca8b80ea0) that received rsETH a few hours ago.
Out of an abundance of caution, we've placed that address under a temporary 24-hour pause. During this window, rsETH cannot move in or out of it.
We're working closely with security experts to investigate and resolve this as quickly as possible. This is a precautionary, wallet-level measure only.
Kelp contracts are safe, rsETH remains fully backed, and all operations - minting, withdrawals, and integrations - are running normally. No user action is required.
We'll share a full update once the review concludes.