Kelp, a liquid restaking protocol released a new token called KEP which tokenizes Eigenlayer points. It’s the first such token.
When people deposit ETH or other liquid staked ether tokens into Kelp, Kelp mints them a token called rsETH, and stakes their ETH or their liquid staked ether tokens into EigenLayer. EigenLayer gives points for staking, so Kelp DAO has a formula to allot those points to its restakers.
The EigenLayer points accumulated upto 27 February by Kelp restakers are available for conversion into KEP tokens. Basically now those rewards points which speculate on the future valuation of the EigenLayer, in their tokenized form as KEP are now liquid assets which can be traded and so on within DeFi.
Note that Ethereum’s natal Ketu is in Uttarabhadrapada, a Nakshatra related to the bottom of the ocean and a certain hidden wisdom there, of an ancient serpent God Who lives there. Kelp is a brown algae, Ketu is brown.
I have been tracking how natal Ketu operates for ether for some time now. I have noted that ETH’s natal Ketu is very beneficial to price and to Ethereum in general. This is because it is in the 6th House and gets rid of problems in a unique manner.
Ethereum’s nodal inversion becomes exact this December of 2024. This means that Rahu will be transiting natal Ketu and vice versa. I wrote about this in my book ETHEREUM BY 2026. That transit will be a turning point for Ethereum. What EigenLayer is doing with Ethereum is going to turn Ethereum into a kind of strata for the entire global financial system to reside upon. It’s a whole new economic system and I saw this when I wrote and published that book in 2022.
I See that what Kelp has done with its new KEP token is important and is going to open up a whole new field. It’s a token so why can’t that token itself be staked? This is totally insane and it’s suggesting a new framework that national currencies can operate on, or perhaps tokens which represent national currencies if developers really want to eff things up, which is likely.
I See that things can start getting literally as crazy as developers of protocols on Ethereum want, and it is going to disrupt the global financial system incredibly. I also mention more about this in the book ETHEREUM BY 2026.
Kelp allows for conversion of Eigenlayer points accumulated via Kelp restaking up until Tuesday February 27th. On Tuesday, Moon transited with Ketu in Mercury’s sign Virgo. Ketu is slowly approaching Ethereum’s natal Rahu in Virgo, in advance of the nodal inversion that happens in December. Right now Ketu is closer to the end of Virgo, moving backwards as always towards the first part of the sign, where Ethereum’s natal Rahu waits.
On this same day, Tuesday, Mars reached exact kendra to Dev Guru Jupiter. Mars has been transiting in Capricorn, the sign most related to financial institutions. Jupiter is in Bharani, a Nakshatra related to the birth of a new reality.