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

New Study Emphasizes the Significance of Primary Source Documentation.

chest

The report highlights the importance of primary source documentation for providing accurate and reliable information.

user avatarLi Weicheng

Cumulative Inflows into US Spot Solana ETFs Reach $116 Billion

chest

Cumulative inflows into US spot Solana ETFs have surpassed $116 billion, indicating growing institutional interest in the token.

user avatarTenzin Dorje

Binance to Remove Seven Spot Trading Pairs on August 21

chest

Binance has announced the removal of seven spot trading pairs on August 21 at 0300 UTC, including SUIBNB and LTCBNB, as part of its market optimization process.

user avatarAisha Farooq

HYPE Token Briefly Surpasses Dogecoin in Market Capitalization

chest

On August 20, Hyperliquids HYPE token briefly surpassed Dogecoin in market capitalization, highlighting a significant valuation shift.

user avatarBayarjavkhlan Ganbaatar

Cardano Foundation Unveils Dijkstra Proposal to Enhance Smart Contract Efficiency

chest

The Cardano Foundation has published a draft of the Dijkstra proposal to enhance smart contract execution and compute efficiency.

user avatarMohamed Farouk

XRP Reclaims 110 Level Amid Broader Crypto Strength

chest

XRP surged 11% intraday to reclaim the 110 level, signaling a short-term win for bulls after weeks of volatile trading.

user avatarElias Mukuru

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.