Cypher Capital Invests in Kernel's Restaking Protocol on BNB Chain

Cypher Capital Invests in Kernel

Cypher Capital, a prominent crypto investment firm, has announced its investment in Kernel, a pioneering restaking protocol on the BNB Chain. Kernel has successfully secured $10 million in funding to enhance its cross-chain restaking platform and expand its presence within the decentralized finance (DeFi) ecosystem.

Kernel's Strategic Vision

Kernel's core offering focuses on enabling restaking on the BNB Chain, which aims to provide decentralized, scalable trust across the blockchain ecosystem. The platform enhances security for developers and decentralized applications (dApps) by creating programmable trust across networks. This strategic alignment has attracted a diverse group of investors, including Binance Labs and other notable firms.

Achievements and Growth

Kernel has achieved significant milestones, boasting over $1 billion in Total Value Locked (TVL) and integrating with more than ten Layer 2 (L2) solutions to enhance scalability. With over 120 DeFi integrations, the platform continues to drive growth and has surpassed 300,000 unique addresses, reflecting widespread community adoption.

Introducing Kernel's Native Token

To further unify governance and incentives, Kernel is introducing its native token. This token aims to reward early supporters and drive ecosystem growth, strengthening the platform's community engagement and participation.

About Cypher Capital

Cypher Capital is a leading venture firm focused on investing in Web3 infrastructure and applications. Guided by principles of environmental, social, and governance, the firm is committed to shaping the future of digital currency and Web3.

About Kernel

Kernel is at the forefront of restaking technology on the BNB Chain, offering shared security to accelerate innovation across the ecosystem. With a rapidly growing ecosystem of over 25 projects, Kernel empowers developers to build efficiently and users to maximize asset rewards.