KELP
Crypto Overview
Overview
KELP is the governance token of KelpDAO, a decentralized autonomous organization focused on liquid staking solutions for Ethereum. The token launched in February 2024 and is designed to facilitate governance decisions within the KelpDAO ecosystem.
Purpose and Utility
The primary utility of KELP is governance rights over the KelpDAO protocol. Token holders can participate in voting on protocol decisions, including parameter adjustments and protocol upgrades. The token also represents ownership in the protocol's fee-generating activities from its liquid staking services.
Business Model Analysis
KelpDAO's core business revolves around liquid staking derivatives (LSDs) for Ethereum, providing users with liquid representations of their staked ETH. The protocol generates revenue through staking rewards and protocol fees, which are distributed to token holders.
Development and Adoption
KelpDAO has demonstrated active development with regular updates to their smart contracts and protocol infrastructure. The project has undergone security audits and maintains open-source code repositories. While still in its early stages, the protocol has attracted a growing user base interested in its liquid staking solutions.
Token Distribution
The token distribution includes allocations for the team, early investors, and the community treasury. Team tokens are subject to vesting periods, indicating a long-term commitment to the project.
Crypto Impact
To assign a comfort level investing in KELP from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to KELP.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.