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Kernel Secures Funding from Binance Labs to Enhance BNB Chain Restaking

Kernel announces significant funding from Binance Labs, solidifying its role as a core restaking infrastructure on BNB Chain, aiming to revolutionize DeFi and expand innovative applications.
Published on 2024-11-25

Kernel's Strategic Partnership with Binance Labs

Kernel has secured substantial funding from Binance Labs, reinforcing its position as a foundational restaking infrastructure on the BNB Chain. This strategic partnership aims to transform BNB’s economic security into programmable trust, benefiting decentralized applications (dApps) and the broader crypto ecosystem.

Funding and Support

Kernel successfully raised $10 million from a diverse group of investors. This funding will drive Kernel's mission to push the boundaries of restaking and enhance its offerings on the BNB Chain.

Restaking Innovation Beyond Ethereum

Kernel is pioneering the application of restaking technology beyond Ethereum by introducing it to the BNB Chain. This initiative seeks to unlock decentralized, scalable trust and is backed by Binance Labs, positioning Kernel as a leader in the restaking journey.

Achievements and Milestones

Since its inception, Kernel has achieved significant milestones, including over $1 billion in Total Value Locked (TVL) with Kelp and Gain on Ethereum, more than ten Layer-2 integrations for improved scalability, and over 120 DeFi integrations. These achievements highlight Kernel's rapid growth and adoption in the DeFi ecosystem.

Visionary Ecosystem and Flagship Products

Kernel envisions powering the future of DeFi through its flagship products: Kernel, Kelp, and Gain. These solutions aim to unlock over $100 billion in opportunities across restaking, DeFi, and real-world assets (RWAs). The $KERNEL token will play a crucial role in unifying governance and incentives across these platforms.

Expansion and Future Plans

Kernel plans to launch initially on the BNB Chain, utilizing BNB Liquid Staking Tokens (LSTs) and restaked BNB for economic security. Future expansions will include integrating BTC and its derivatives. Over 20 dApps are set to leverage Kernel's economic security, enhancing utility and capital efficiency for developers and users alike.

Enhancing Developer and User Experience

Kernel is committed to reducing barriers for protocols and fostering a developer-friendly environment. By integrating native and liquid staking tokens across various assets, Kernel enhances their utility and capital efficiency, driving the growth of innovative restaking and DeFi applications.

Kernel's collaboration with Binance Labs underscores its commitment to advancing the restaking and DeFi landscape, providing a secure and scalable foundation for developers to innovate efficiently.

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