What is Kelp's risk level?

Yielna's risk meter reads Low for Kelp, from its contracts, their control and its history. It measures structural and historical risk, not future returns.

Is Kelp verified by Yielna?

Yes — Kelp holds Yielna's verified (first level) badge, awarded only when every requirement is met and verified on-chain.

Who controls Kelp's contracts?

Admin control: 6 of 11 signers must approve. Timelock: 10 days before changes take effect.

$1.12B, as reported by DefiLlama.

Has Kelp been exploited?

2 exploits are recorded for Kelp; its page lists each, with what was lost and repaid.

Kelp

Overview

TVL

$1.12B

Up 30% over 90 days

Live since

2023

TVL, last 90 days

Risk

How it's measured

Low

Full data

Security

AuditsAudited by Sigma Prime and Code4rena, June 2024Sigma Prime · Jun 2024 Sigma Prime · Jun 2024 Sigma Prime · Dec 2023

Contract statusAll contracts verified, upgradeablersETH 0xA129…e5A7

Upgrades controlled byMultisig, behind a timelock0x49bD…35B1

Multisig6 of 11 signers must approveWhat they approve then waits in the timelockSafe 0xb369…a46d

Timelock10 days before changes take effect

Track record

Through market stressCame through all 2August 2024 crash — kept 78% of its depositsOctober 2025 liquidation cascade — kept 67% of its deposits

Exploit history

18 Apr 2026 — Cross-Chain Message Spoofing$293.0M lost · Users were fully reimbursedrsETH backing restored in full by May 2026 through the DeFi United recovery, without losses passed to holders · Report
21 Feb 2024 — Infinite Mint at Gain$3.0M lost · No reimbursement recorded