YieldNest Launches ynBNB: A New Era for Restaking on BNB Chain
TL;DR
- YieldNest has launched its first liquid-restaking token, $ynBNB, on the $BNB Chain, aiming to enhance returns and access various restaking platforms.
- Restaking protocols have attracted over $25 billion in total value locked since their inception on $ETH, with $SOL also seeing significant participation.
YieldNest has introduced its first liquid-restaking token, $ynBNB, on the $BNB Chain, marking a notable advancement in the restaking ecosystem. This initiative aims to aggregate multiple yield sources and provide access to platforms like Kernel Protocol, Karak, and Binominal. Investors participating in restaking can accumulate yield and reward points, potentially boosting their returns. đ
Since their launch on the $ETH blockchain in June 2023, restaking protocols have gained immense popularity, attracting over $25 billion in total value locked (TVL). Other layer-1 blockchains, such as $SOL, have also joined the trend, with $SOL securing more than $4 billion in TVL. YieldNest's Seeds program allows users to gather points for future rewards and airdrops, enhancing their engagement with the platform.
Amadeo Brands, YieldNest's CEO and co-founder, expressed excitement about the launch, stating, "The launch of $ynBNB marks the beginning of our journey to develop the restaking landscape on the $BNB Chain." This new token not only enhances returns but also facilitates participation in various ecosystems while earning additional incentives. đ
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