London, September 12th – YieldNest, a pioneering management platform for restaking, is excited to unveil the ynBNB – the inaugural BNB Liquid Restaking Token (LRT) on BNB Chain. In light of the recent surge in restaking popularity, YieldNest aims to enhance liquid restaking solutions on BNB Chain, the largest layer 1 network in terms of user count.
Restaking into ynBNB enables users to earn supplementary rewards in addition to their native BNB staking returns, fostering higher engagement and profitability within the crypto domain. ynBNB provides a convenient, effective, and lucrative restaking solution that maximizes the potential of assets across various protocols.
How does it function?
A Liquid Restaking Token enables users to restake their already-staked tokens while maintaining liquidity, which means they can utilize their tokens while still earning additional rewards. ynBNB builds on BNB Chain’s prominent slisBNB token. It’s a yield-producing & liquid staking token offered by Lista – a leading staking service on the BNB Chain, allowing users to stake their BNB tokens. YieldNest provides the option to restake slisBNB into ynBNB via its platform to generate extra rewards.
YieldNest collaborates with top-tier restaking protocols on the BNB Chain to enhance returns, including Kernel, Karak, and Binomial. By leveraging its advanced framework, YieldNest has created a sophisticated vault system that intelligently allocates users’ assets to yield-generating strategies with the best potential.
How does it enhance the yield?
By restaking slisBNB into ynBNB, YieldNest consolidates all possible yield sources for BNB restakers:
-
Fast Track into Kernel, Karak, and Binomial Restaking Rewards: Provides access to the restaking rewards and point systems of Karak, Binomial, and Kernel.
-
BNB APY Yield: By staking BNB, users help reinforce BNB network security & receive yield.
-
YieldNest Seeds: The Seeds initiative rewards active involvement and early backing from community members and partners. Users can accumulate Seeds to gain a stake in future rewards and qualify for forthcoming airdrops.
-
Future AVS Yields: Users benefit from additional yields for crypto-economic security provided by Active Validated Services (AVS) or networks.
-
Future AVS Airdrops: Have the chance to participate in airdrops from Active Validated Services, adding more tokens and rewards to a portfolio.
How does YieldNest manage risks versus returns?
Like all investments, restaking carries risks, including potential slashing (loss of tokens due to validator mismanagement) and market fluctuations. YieldNest customizes its restaking approaches to match each user’s risk appetite and investment objectives. The comprehensive risk evaluation will be spearheaded by YieldNest’s Independent Risk Team, focusing on the significance and utility of restaking while pinpointing the most suitable blockchains.
“YieldNest aspires to establish itself as a leader in Liquid Asset Management, providing a premium programmatic yield layer for restaked DeFi assets. The introduction of ynBNB is just the beginning of our mission to revolutionize the restaking ecosystem on the BNB Chain. Our new token ynBNB not only boosts returns but also encourages participation in Kernel, Karak, and Binomial’s platforms while unlocking additional advantages. This launch is a pivotal progression towards a future where crypto staking and restaking are more rewarding, accessible, and secure than ever.”” – states Amadeo Brands, CEO & Co-Founder of YieldNest.
About
YieldNest serves as an asset management layer for restaking, optimizing yield generation on staked assets through a variety of diversified, risk-adjusted strategies. Built on the EigenLayer protocol, it maximizes returns by mitigating slashing risks through thorough assessments and strategic staking decisions. YieldNest’s innovative methodologies guarantee returns by integrating advanced strategies and a durable yield layer within the DeFi landscape.
YieldNest is supported by Faculty Capital, Backed VC, Proof Capital, and others, alongside prominent angel investors, including the founders of Curve (Michael Egorov, Martin Krung & Naga King), Kyber (Loi Luu), Frax (Sam Kazemian), and additional contributors.
For further details, please visit https://www.yieldnest.finance/
