Binance Labs has announced an investment in Kernel, an infrastructure for restaking aimed at enhancing security and utility for the BNB chain.
Kernel aims to use restaking to transform the security of BNB into programmable reliability, supporting a range of cryptocurrency services, applications, and middleware software.
Kernel Will Launch First on-chain BNB
The initial phase will focus on integrating Liquid Staking Tokens BNB (LSTs) and BNB being restaked as economic security to drive innovation in on-chain BNB DeFi.
In addition, Kernel plans to expand by integrating Bitcoin and its derivatives into its restaking framework. Over 20 decentralized applications (dApps) will utilize Kernel's economic security. This includes AI co-processor Mira and the ZK-proof convergence protocol Electron.
Meanwhile, collaborations with projects like ListaDAO, Solv, and YieldNest will continue to enhance the utility of restaked assets. Kernel's long-term vision includes expanding its infrastructure to other layer-1 blockchains.
Kernel's approach integrates native and liquid staking tokens from BNB, BTC, and other yield-bearing assets. This has the potential to optimize asset utility and improve capital performance.
"Kernel is a typical illustration of the type of innovative project aligned with the mission of Binance Labs to bring more users onto Web3 by supporting meaningful technology and promoting the ecosystem," said Alex Odagiu, Investment Director at Binance Labs, in a press release.
This investment follows the recent support of Binance Labs for Lombard, a liquidity staking platform focused on Bitcoin. Currently, Lombard's LBTC Token accounts for 40% of the Bitcoin liquidity staking token market and aims to expand its secure multi-chain staking protocol.
Moreover, Binance Labs has ventured into the field of decentralized science (DeSci). The company has invested in BIO Protocol, marking its first entry into this area.
Overall, Binance Labs seems to have adopted a broader strategy to diversify its $10 billion portfolio into innovative and impactful areas.
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