Kelp’s rsETH Goes Live on Mantle, Unlocking DeFi Opportunities Across Aave and Merchant Moe
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Kelp’s Liquid restaking token rsETH has now officially gone live on the Mantle network, which is a significant advancement towards spreading the use of restaked ETH across chains. The launch presents new users with lending, borrowing, and liquidity prospects in the expanding decentralized finance infrastructure in Mantle.
Kelp DAO, the developers of rsETH, announced the launch pointing out Mantle as one of the major expansion markets. Bringing rsETH to Mantle gives users the ability to explore more strategies in both lending markets and decentralized exchanges and continues to be exposed to Ethereum restaking rewards.
Mantle places itself as a distribution layer between the conventional finance and the on-chain liquidity. The inclusion of rsETH is consistent with that vision because this type of yield-bearing asset would increase the capital efficiency of the DeFi protocols.
Aave v3 Launches on Mantle with wrsETH Support
Aave v3 is now live on Mantle, including wrapped rsETH (wrsETH), making it a supported collateral asset in the ecosystem in a major improvement to the ecosystem. This will enable the users to either deposit wrsETH, borrow it or loop it to potentially increase returns.
The wrsETH is available on Aave v3 and the application of the asset is no longer limited to holding. Users can now access liquidity of its restaked ETH positions without sell-out. This is the key feature in the popularity of liquid restaking, which enables capital to be productive on several levels of DeFi.
In order to encourage early response, increased rewards are being given on wrsETH supply before March 18. The short-term campaign is to bring in liquidity and further use the new market. Nevertheless, the participants are notified that the rewards are not guaranteed, and the risk assessment is compulsory.
Merchant Moe Adds wrsETH Trading and Liquidity
The Aave deployment has been accompanied by the introduction of wrsETH to trade and provide liquidity by the native Merchant Moe, the native decentralized exchange of Mantle. The listing allows users to offer liquidity with wrsETH and receive trading fees and retains restaking exposure.
According to Merchant Moe, the integration started a wider DeFi wave on Mantle. The DEX will become a central asset and a place of trading and liquidity in the ecosystem with new assets coming into the ecosystem.
The wrsETH integration to the DeFi stack at Mantle will make it possible to have users smoothly transition between lending markets and decentralized exchange liquidity pools. This inter-relationship infrastructure facilitates higher advanced yield strategies and general capital efficiency of the network.
Native Minting and Bridging via Kelp dApp
Minting or bridging rsETH can be done directly onto Mantle by users using the Kelp dApp. This simplified entry is less frictional on those wishing to move re-staked ETH to Mantle-based protocols.
The growth can be seen as an indication of a bigger plan to expand rsETH to additional chains and to incorporate it with various protocols. In this manner, Kelp tries to enhance utility, liquidity depth and composability of its liquid restaking token.
Cross chain availability is very important in fuelling adoption as restaking continues to be a dynamic part of the Ethereum ecosystem. The integration of Mantle is another step that will help rsETH provide its reach and improve presence in the multichain DeFi.
Expanding Restaking Utility Across DeFi
The joint deployment of Aave v3 and Merchant Moe is an indicator of a concerted effort to increase the liquidity of DeFi on Mantle. The users now have several opportunities to implement wrsETH through lending, borrowing, looping, and liquidity provision.
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