Binance Labs' Investment in Kernel: Boosting Security and Expanding dApps on BNB Chain

user avatar

by Giorgi Kostiuk

2 years ago

Binance Labs has announced an investment in Kernel, a restaking infrastructure platform, with the goal of enhancing security, scalability, and utility for the BNB Chain.

What Is Kernel?

Kernel is a restaking infrastructure platform aimed at maximizing the security and utility of staked assets. By utilizing BNB Liquid Staking Tokens and restaked BNB as economic security, Kernel supports key areas such as enhanced security, improved utility, and developer enablement. Kernel impacts over 20 decentralized applications.

Kernel exemplifies the innovative project that aligns with Binance Labs' mission to bring more users onto Web3. By leveraging restaking solutions, Kernel is driving greater utility and scalability for BNB-based assets.Alex Odagiu, Investment Director at Binance Labs

Kernel's Ecosystem

Kernel's approach to restaking revolves around three flagship products: Kernel, a cross-chain restaking platform; Kelp, a liquid restaking solution on Ethereum; and Gain, tokenized yield products. These solutions collectively aim to unlock a $100 billion opportunity across restaking, DeFi, CeDeFi, and RWAs.

Kernel's Achievements

Since its inception, Kernel has achieved the following milestones: over $1 billion in Total Value Locked (TVL), over 10 Layer-2 integrations, over 120 DeFi integrations, and more than 300,000 unique wallet addresses.

Kernel plans to expand its restaking model to additional Layer 1 blockchains, including Bitcoin derivatives and other yield-bearing assets, aiming for a global shared security model.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

NEAR Protocol Achieves 50 Million Operations Milestone

chest

NEAR Protocol's chain abstraction infrastructure has surpassed 50 million lifetime operations, marking a significant achievement in simplifying multichain crypto interactions.

user avatarArif Mukhtar

Solana Sees Significant RWA Inflows

chest

Solana has recorded $348 million in net inflows of real-world assets over the past 30 days, increasing its tokenized RWA value to $720 million.

user avatarMaria Gutierrez

Aave Governance Considers Emergency Powers to Protect Users

chest

Aave governance is considering a proposal to grant emergency powers to guardians to freeze vulnerable lending pools during security threats.

user avatarDavid Robinson

Router Protocol Users Must Move Assets During Grace Period

chest

Router Protocol users must take action during the grace period to bridge assets back to origin chains before relayer nodes are disconnected.

user avatarJacob Williams

Arbitrum Proposes Disqualification of Three DeFi Protocols from Future Grants

chest

A new governance proposal by Arbitrum aims to disqualify three DeFi protocols from future DAO grant allocations due to alleged reporting failures and misuse of prior incentives.

user avatarAndrew Smith

Router Protocol to Shut Down Crosschain Network and Burn 303 Million Tokens

chest

Router Protocol has announced a deprecation plan to shut down its crosschain messaging network and burn 303 million ROUTE tokens due to unsustainable maintenance costs.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.