Kernel secured Binance Labs funding to redefine re-staking on the BNB chain.

admin3 hours ago

Bengaluru, India, November 25, 2024, Chainwire

Kernel is pleased to announce funding. Binance LabIt solidifies its role as the core re-staking infrastructure of the BNB Chain. This milestone marks a huge leap forward in transforming BNB’s economic security into programmable trust and powering dApps, middleware, and the entire cryptocurrency ecosystem.

Kernel has raised a total of $10 million across rounds with the trust and support of a variety of investors, including:

SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Cypher Capital, Draper Dragon, ArkStream Capital, DACM, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, Via BTC, Side Door Ventures, NOIA, DWF Labs.

Kernel is excited to continue building on this journey and pushing the boundaries of what re-staking can achieve.

Building Beyond Ethereum

While restaking reshaped Ethereum, the kernel broke new ground by bringing these innovations to: BNB ChainUnlock decentralized, scalable trust. sponsor Binance LabKernel is leading the reclaiming journey on the BNB chain and beyond.

Kernel milestones

Since release the kernel has achieved the following:

Total value locked (TVL) over $1 billion With Kelp & Gain on Ethereum
10+ Layer 2 integrations For better scalability
120+ DeFi integrationspromote rapid growth
300,000+ unique addressesDemonstrates trust and adoption.

Kernel’s Vision Ecosystem

Kernel is part of a broader vision to power the future of DeFi through three key products:

core: BNB Chain’s cross-chain re-staking powerhouse launches Mainnet soon
kelp: Liquidity re-staking is surging on Ethereum as RSETH adoption surges.
get: Tokenized returns across DeFi, CeDeFi and real-world assets (RWA)

When these solutions are used together, A $100B+ Opportunity It spans Restake, DeFi, CeDeFi and RWA.

Introduction to $KERNEL Token

$KERNEL aims to unify governance and incentives across Kelp, Kernel, and Gain to reward early supporters and drive ecosystem growth.

The kernel will first be launched on the BNB Chain using the BNB Liquid Staking Token (LST), which will then re-stake BNB as economic security to support DeFi innovation on the BNB Chain. Expansion plans include incorporating BTC and its derivatives as a re-staked economic security. More than 20 decentralized applications (dApps), including Mira, a decentralized AI coprocessor, and Electron, a ZK proof aggregation protocol, will leverage the kernel’s economic security. Several LSTs and LRTs, including ListaDAO, Solv, and YieldNest, are collaborating with Kernel to provide more utility for re-staked assets.

Over time, the kernel plans to expand to additional L1s, providing strong economic security and a foundation for the growth of innovative applications in the kernel.

Kernel integrates native and liquid staking tokens across BNB, BTC and other yielding holdings to improve utility and capital efficiency. By building a shared economy security ecosystem, the kernel enables developers to bootstrap their projects more efficiently while providing users with new opportunities to maximize the usefulness of their assets. These innovations drive the growth of innovative restaking and DeFi applications by reducing protocol barriers and creating a developer-friendly environment. The kernel aims to provide a secure and scalable foundation on which developers can build and grow their projects efficiently.

“Kernel is an example of the type of innovative project that aligns with Binance Labs’ mission to bring more users to Web3 by supporting meaningful technologies and advancing the ecosystem,” said Alex Odagiu, Investment Director at Binance Labs. “By leveraging its re-staking solution, Kernel is driving greater utility and scalability of BNB-backed assets while laying the foundation for a more resilient and developer-friendly re-staking and DeFi environment.”

“We are thrilled to have the support of Binance Labs to realize our vision of re-staking across Web3. Their support has been instrumental in helping Kernel build the foundation for a more secure, scalable and utility-rich restaking and DeFi ecosystem on the BNB Chain,” said Amitej G., Co-Founder of Kernel. “We are not just increasing redeployment space, we are unlocking a new level of usability and resilience for BNB-backed assets. This is just the beginning, and we’re excited to continue pushing the boundaries of re-staking on the BNB chain and beyond.”

join the trip

The kernel is working to rebuild trust, not just build infrastructure.

Users can follow their own journey.

twitter: @KelpDAO & @KernelDAO

Telegram | fluoride

kernel information

Kernel is pioneering re-staking on the BNB Chain, designed to provide decentralized shared security and accelerate innovation and growth across the ecosystem. A remediation founded by DeFi experts and scaling its products to over 1.3 billion TVL, Kernel’s project ecosystem is already over 25 years old and growing rapidly. By lowering the barrier to entry to the protocol and providing higher rewards, the kernel helps developers build 100x more efficiently and allows users to maximize rewards for their assets.

https://kerneldao.com/