Kelp DAO tokenizes EigenLayer airdrop points, launching $340m market with KEP trading around $0.17 after 4.6 million tokens claimed.

Kelp DAO has started turning its EigenLayer points into a tradable ERC-20 asset called KEP, creating a secondary market for what had previously been a non-transferable rewards system. According to DL News, one KEP equals one EigenLayer point, about 4.6 million KEP have already been claimed, and the token was trading around $0.17 soon after launch. The launch matters because it gives a market price to EigenLayer points and shows how liquid restaking protocols are extending the economics around EigenLayer’s airdrop-style incentives. DL News reported that the implied market value of all EigenLayer points reached roughly $340 million based on trading activity on Whales Market, while Kelp also added a 0.5% fee on KEP claims that it plans to recycle into incentives for rsETH restakers.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• Kelp DAO Launches KEP Token To Reward EigenLayer Restakers (binance.com)
• Kelp DAO: What You Need to Know - Alea Research (alearesearch.substack.com)
• Kelp DAO Review 2026: Fees, Pros, Cons, & Features - Milk Road (milkroad.com)
• Nansen (nansen.ai)
• Kelp DAO - Projects & Protocols - IQ.wiki (iq.wiki)

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• Kelp DAO
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• EigenLayer