The Good Tech Companies - Kernel Secures Binance Labs Funding To Redefine Restaking On BNB Chain

Episode Date: November 25, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/kernel-secures-binance-labs-funding-to-redefine-restaking-on-bnb-chain. While restaking has reshaped Ethereum, Kernel is breaking new ground by bringing this innovation to BNB Chain, unlocking decentralized, scalable trust. Backed b Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #kernel, #chainwire, #press-release, #kernel-announcement, #evm-smart-contract-platform, #blockchain-development, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Kernel raised 10M total funds across rounds, with the belief and backing of various investors. Backed by Binance Labs, Kernel is leading the restaking journey on BNB Chain and beyond.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Kernel secures Binance Labs funding to redefine restaking on BNB chain. By Chainwire, Bengaluru, India, November 25, 2024, Chainwire, asterisk Kernel is thrilled to announce funding from Binance Labs, solidifying their role as a corestaking infrastructure on BNB chain. This milestone marks a big leap interning BNB's economic security into programmable trust, empowering DAPPs, middleware, and the entire crypto ecosystem. Kernel raised 10M total funds across rounds, with the belief and backing of various investors, including SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Cypher Capital, Draper

Dragon, Arcstream Capital, DACM, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, via BTC, Side Door Ventures, Noya, DWF Labs. Cornelis excited to continue building this journey and pushing the boundaries of what Restaking can achieve. Building beyond Ethereum while restaking has reshaped Ethereum, Kernel is breaking new ground by bringing this innovation to BNB chain, unlocking decentralized, scalable trust. Backed by Binance Labs, Kernel is leading the restaking journey on BNB chain and beyond. Kernel's milestones since launching. Kernel achieved $1 billion plus total value locked, TVL, with kelp and gain on Ethereum. 10 plus

layer 2 integrations for better scalability. 120 plus DeFi integrations, fueling rapid growth. 300k plus unique addresses, showing and adoption kernels visionary eco system kernel is part of a broader vision powering the future of defy through three flagship products one kernel cross-chain restaking powerhouse on bnb chain launching mainnet soon two kelp liquid restaking on ethereum with rseth adoption skyrocketing. 3. Gain. Tokenized yields across DeFi, C-DeFi and real-world assets, RWAs. Together, these solutions unlock $100 billion plus opportunities in across restaking, DeFi, C-DeFi and RWAs. Introducing Dollar Kernel Token Dollar Kernel aims to unify governance and incentives across Kelp,

Kernel, and GAIN, rewarding early supporters and driving ecosystem growth. Kernel will first launch on BNB chain using BNB liquid staking tokens, LSTs. Andres talked BNB as economic security to support DeFi innovation on BNB chain. Plans for expansion include incorporating BTC and its derivatives as restaked economic security. Over 20 decentralized applications, DAPPs, including Decentralized AICO Processor, MIRA, and ZK Proof Aggregation Protocol, Electron, are going to leverage Kernel's economic security. Several LSTs and LRTs including ListaDAO, Solve, and YieldNest are working with Kernel to bring more utility to restaked assets. Over time, Kernel plans to

expand to additional L1s, providing robust economic security and a foundation for the growth of innovative applications on Kernel. Kernel integrates native and liquid staking tokens across BNB, BTC, other yield-bearing assets to improve their utility and capital efficiency. By creating a shared economic security ecosystem, Kernel enables developers to bootstrap projects more efficiently while offering users new opportunities to maximize the utility of their assets. These innovations reduce barriers for protocols and foster a developer-friendly environment, driving the growth of innovative Resta King and DeFi applications.

Kernel aims to provide a secure and scalable foundation for developers to build and grow their projects efficiently. Greater than Kernel exemplifies the type of innovative project that aligns with Binance Labs' mission to bring more users onto Web3 by supporting meaningful greater-than technology and advancing the ecosystem, said Alex Odaju, investment director greater-than at Binance Labs. Greater-than, by leveraging restaking solutions, Kernel is driving greater utility and greater-than scalability for BNB-based assets while laying the groundwork for a more greater-than resilient and developer-friendly restaking in DeFi landscape. We are greater than thrilled to have the support of Binance Labs to bring the vision of restaking greater-than-to-life across Web3. Their backing has been instrumental

in helping Kernel greater-than-build the foundation for a more secure, scalable, and utility-rich restaking greater-than-in-DeFi ecosystem on BNB chain, said Amit A. G., co-founder of Kernel. Greater than, we're not just growing the restaking space, we're unlocking new dimensions of greater than utility and resilience for BNB-based assets. This is just the beginning, and greater than we're thrilled to continue pushing the envelope on restaking on BNB chain and greater than beyond. Joining the journey Kernel isn't just building infrastructure, it's working towards reshaping trust. Users can follow their journey.

Twitter. At KelpDAO and at KernelDAO Telegram, Discord about KernelKernel is pioneering restaking on the BNB chain, designed to provide decentralized shared security and accelerate innovation and growth across the ecosystem. Founded by experts in DeFi and restaking who scaled products to 1.3bn plus TVL, Kernel's ecosystem of projects is already 25 plus and growing rapidly. By lowering entry barriers for protocols and unlocking higher rewards, Kernel empowers developers to build 100x efficiently and users to maximize rewards on assets. https://kerneldao.com Contact Founder at Colonel Amite Gajala Colonel Marketing at KelpDAO. XYZ Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging

program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.