Restaking has dominated TVL and developer growth across Ethereum and other L1s with USD 30B+ TVL across 150+ protocols. Kernel has been at the center of the restaking evolution and has become a dominant player with the three major products.

1. Kelp LRT ($2B+ TVL): rsETH is the second largest Liquid Restaking Token on Ethereum

2. Kernel (25+ ecosystem projects, $50M+ TVL): Top restaking infrastructure using BTC and BNB as shared security with 50 Mn+ TVL and spawning 25+ ecosystem projects in the coming months.

3. Gain ($200M+ TVL): On-chain tokenized reward strategies with DeFi composability

$KERNEL is the unified governance token across the three products and will be used to reward early supporters and users of the protocol. KERNEL’s tokenomics are community-first and utility-driven, empowering users to shape the protocol's future right from launch. The following sections illustrate distribution, token utility, and more.

Community-first token distribution

Our token distribution demonstrates our commitment to our users. 60% of the $KERNEL tokens are allocated to Community and Ecosystem partners. 

• Community Rewards & Airdrops: 55%

  • 20% of total supply earmarked for airdrops

  • 35% is allocated for future rewards

• Ecosystem & Partners: 5% (includes Ecosystem partners, market makers, Onchain liquidity etc.)

• Private Sale: 20% (includes completed and future private sale)

• Team & Advisors: 20%*

* Team and Private sale tokens are vested over 24 months after a 6-month lock-up post TGE.

Detailed monthly unlock schedule of $KERNEL will be shared closer to TGE. 

Additionally, early users and supporters have received the following benefits:

• 25% boosted rewards for very early restakers on Kelp LRT  between 12th Dec - Jan 1st 2024, 100k Kelp miles/ rsETH minted between 18th Jan - 9th Feb’24

• Additional incentives across multiple campaigns including RTOB, Kelp Carnival etc.

$KERNEL Utility

$KERNEL can be utilized in the following ways at token launch:

• Governance participation on key decisions across the three products, including Kelp LRT, Kernel and Gain

• Restake $KERNEL to provide shared economic security for Kernel ecosystem projects, middleware, applications

  • Potential air drops and Restaking rewards from ecosystem projects including middleware, Defi protocols etc.

• Provide liquidity on AMMs for additional $KERNEL rewards

The next phase for $KERNEL utility introduces several additional use cases including*:

• Staking $KERNEL to provide insurance against potential slashing events across rsETH (LRT) and Kernel

• $KERNEL buybacks with a large % of protocol revenue

*Subject to governance approval

Airdrop seasons

$KERNEL will be airdropped to users and supporters across multiple seasons with 20% dedicated to airdrops. Season 1 airdrop allocation will be 10% of $KERNEL total supply.

Season 1: 

• Allocation: 10% of total supply allocated till Dec 31, 2024

• Eligibility: Users who earned Kelp Miles / Kernel Points across the 3 products till Dec 31st, 2024

• Boosted rewards: Users who restake / have restaked in Season 1 or before Jan 15, 2025 get a 15% loyalty boost in Season 2!
  Restake before Jan 15, 2025 across Kelp or Kernel to be eligible for the loyalty boost.

  • Restake on Kelp here

  • Restake on Kernel here

Season 2:

• Allocation: 5% of total supply

• Boosted rewards: Extra 15% loyalty boost upon restaking before Jan 15, 2025

• Timeline: January 1 - April 30, 2025

Season 3 and beyond*:

• Allocation: 5% of total supply 

• Timelines: TBD

*Subject to governance approval

The $KERNEL ecosystem today

• Kelp rsETH (LRT): $2B+ TVL with 500k+ ETH restaked.

• Kernel (Restaking infra for BnB, BTC, and other reward-bearing tokens): Powering 25+ ecosystem projects including LRTs, Middleware, and Dapps.

• Gain powered by Kelp (Tokenized rewards): $200M+ TVL in automated vaults.

Wen TGE

$KERNEL TGE is targeted in early-Q1 2025. We are working through the listing process across all CEXs and will update the community regarding the specific dates and timelines.

Building together

$KERNEL is a multi-utility and highly user-centric protocol that governs an ecosystem of products across Kernel Restaking, Kelp LRT and Gain. $KERNEL distribution represents our unwavering commitment to our early supporters. Join us as we build a more accessible and rewarding restaking ecosystem.

Together, we're shaping the future.

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