Kernel Raises Funding from Binance Labs to Pioneer Reststaking on BNB Chain

Kernel is thrilled to announce funding from Binance Labs, solidifying their role as a core restaking infrastructure on BNB Chain. This milestone marks a big leap in turning BNB's economic security into programmable trust, empowering dApps, middleware, and the entire crypto ecosystem.

Bengaluru, India, 25th November, 2024, Chainwire

Kernel, a pioneer in the restaking space, has secured funding from Binance Labs, solidifying their role as a core restaking infrastructure on BNB Chain. This marks a significant milestone in the collective effort to transform BNB's robust economic security into a powerful engine of programmable trust, driving innovation across dApps, middleware, and the broader crypto ecosystem.

The latest funding round also saw participation from several leading venture funds and institutions, 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, and DWF Labs.

With this support, Kernel is set to continue building and expanding the frontiers of what restaking can achieve.

Paving the Way for Restaking on BNB Chain

While restaking has reshaped Ethereum's landscape, Kernel is breaking new ground by bringing this innovation to BNB Chain, unlocking a new frontier of decentralized, scalable trust. Backed by Binance Labs, Kernel is leading the restaking journey on BNB Chain and beyond.

Kernel's Journey to Date

Since launching, Kernel has achieved the following milestones:

Kernel's Visionary Ecosystem

Kernel is part of a broader vision, powering the future of DeFi through three flagship products:

Together, these solutions unlock $100B+ opportunities across Restaking, DeFi, CeDeFi, and RWAs.

Introducing $KERNEL Token

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

Initially launching on BNB Chain with BNB Liquid Staking Tokens (LSTs) and restaked BNB as economic security, Kernel will 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 AI coprocessor Mira and ZK proof aggregation protocol Electron, will leverage Kernel's economic security. Several LSTs and LRTs, such as ListaDAO, Solv, and YieldNest, are working with Kernel to enhance the utility of restaked assets.

Over time, Kernel plans to expand to additional L1s, providing robust economic security and a foundation for innovative applications on Kernel.

Kernel integrates native and liquid staking tokens across BNB, BTC, and other yield-bearing assets to enhance 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 restaking and DeFi applications. Kernel aims to provide a secure and scalable foundation for developers to build and grow their projects efficiently.

“Kernel aligns with Binance Labs' mission to bring more users onto Web3 by supporting meaningful technology and advancing the ecosystem," said Alex Odagiu, Investment Director at Binance Labs. "By leveraging restaking solutions, Kernel is driving greater utility and scalability for BNB-based assets while laying the groundwork for a more resilient and developer-friendly restaking and DeFi landscape.”

“We are thrilled to have Binance Labs' support in realizing the vision of restaking across Web3," said Amitej G., Co-Founder of Kernel. "Their participation has been invaluable as we build the foundation for a more secure, scalable, and utility-rich restaking and DeFi ecosystem on BNB Chain. We're not just growing the restaking space; we're unlocking new dimensions of utility and resilience for BNB-based assets. This is just the beginning, and we’re excited to continue pushing the envelope on restaking on BNB Chain and beyond.”

Join the Journey

Kernel isn't just building infrastructure—it's working towards reshaping trust.

Follow their journey: Twitter: @KelpDAO & @KernelDAO Telegram | Discord

About Kernel

Kernel pioneers restaking on the BNB Chain, providing decentralized shared security and accelerating innovation and growth across the ecosystem. Founded by experts in DeFi and restaking who scaled products to 1.3 Bn+ TVL, Kernel's ecosystem of projects already spans 25+ and is 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 Kernel Amitej Gajjala

Kernel [email protected]