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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward Acquires AAVE Tokens to Explore Decentralized Credit

Payward, the infrastructure company behind Kraken, announced the acquisition of AAVE tokens through an affiliated fund.

user avatarMaya Lundqvist

Solana Labs Launches Leap Mobile Trading App for iOS

Solana Labs has launched an early-access beta version of its mobile trading app, Leap, for iOS users.

user avatarLeo van der Veen

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Coinbase Launches Integrated Services for Token Issuers

On November 5, Coinbase launched a new integrated platform for token issuers, offering services from sales to custody, aiming to streamline operations and reduce reliance on multiple providers.

user avatarBayarjavkhlan Ganbaatar

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.