TL;DR
YieldNest has launched ynBNB, the first liquid-restaking token on the BNB Chain, allowing users to earn additional yields.
The ynBNB token provides extra yields and rewards with “Seeds” points, which will incentivize restaking and offer access to future airdrops.
The platform will adjust its restaking strategies according to users’ risk tolerance and investment goals.
YieldNest has announced the launch of ynBNB, the first liquid-restaking token on the BNB Chain, enabling users to earn additional returns on top of staking the native BNB token. This innovative solution is aimed at those seeking to increase their benefits.
The ynBNB token will have two functions: first, it will provide additional yields. Additionally, it will reward users with points called “Seeds.” These points can be redeemed in the future for token airdrops, a fundamental incentive to promote restaking. The focus will also be on attracting more users to the YieldNest ecosystem.
https://t.co/kLxqU3VJz7
— YieldNest (@YieldNestFi) September 12, 2024
YieldNest integrates with several established restaking protocols, including Kernel Protocol, Karak, and Binominal, facilitating users’ access to a broader range of platforms and opportunities to earn yields. These protocols offer the possibility of maximizing gains through a combination of staking and restaking.
YieldNest Will Offer Customized Restaking Strategies
Since its emergence on Ethereum in June 2023, restaking has grown exponentially, accumulating over $25 billion in total value locked (TVL). Its expansion to other blockchains, such as Solana, which has secured over $4 billion in TVL, demonstrates that it now plays a crucial role in the crypto market.
YieldNest’s Seeds program will be a key component of this innovation. Users who accumulate enough Seeds points will be able to participate in future token airdrops, creating a cycle of incentives to maintain and increase their participation in restaking.
To ensure an optimal experience for users, YieldNest will tailor its restaking strategies based on each individual’s risk tolerance and investment goals. The company has implemented an in-house independent risk team to manage and balance these aspects, ensuring that the strategies are suitable for each user profile.