Chainlink Proof of Reserve (PoR) provides real-time updates for reserves backing digital assets with superior transparency and reliability compared to annual statutory audits, interim audits, and monthly proof of reserves, establishing a new standard for digital assets, decentralized exchanges, and crypto ETFs.
This week, Kelp, the second-largest liquid restaking protocol in the KernelDAO ecosystem with over $2 billion in TVL, announced it’s integrating PoR’s Secure Mint capability to enhance the security and transparency of its liquid restaking token (LRT), rsETH, which operates across 10+ major layer-2s and integrates with over 40 DeFi platforms.
PoR leverages Chainlink’s highly resilient oracle infrastructure, which has enabled over $20 trillion in transaction value, to verify that digital assets like LRTs are fully collateralized by reserves. Secure Mint programmatically enforces 1:1 collateralization by ensuring new tokens are only minted when they are backed by sufficient reserves.
“Kelp integrating Chainlink Proof of Reserve Secure Mint is a prime example of how tokenized asset issuers can embed cryptographic guarantees directly into their assets,” said Johann Eid, Chief Business Officer at Chainlink Labs, in an official announcement.
“By adopting Chainlink, Kelp is helping set a higher bar for security, transparency, and reliability in the DeFi space—ensuring that rsETH is backed, verifiable, and built to scale.”
“Chainlink Proof of Reserve is the industry standard for a reason, so integrating Secure Mint to enhance the reliability of Kelp and prevent the overminting of rsETH is an obvious choice,” added KernelDAO CTO, Dheeraj B.
“Proof of Reserve will secure the rsETH minting function, which is a critical step to providing enhanced transparency and security to Kelp users. We look forward to the stronger guarantees and increased transparency the Chainlink standard will bring to our users.”
To learn more about Kelp, visit their website, X, Telegram, and Discord.