Cypher Capital, a multi-strategy crypto investment firm, announced its investment in Kernel, a restaking protocol on BNB Chain. This will help Kernel develop its cross-chain platform and expand its capabilities in the DeFi ecosystem.
Cypher Capital Invests in Kernel
Kernel has secured $10 million in funding which will be used to further develop its cross-chain restaking platform and expand its capabilities in the DeFi ecosystem. The funding for Kernel was supported by a diverse group of investors including Binance Labs, SCB Limited, among others.
Key Directions of Kernel
Kernel's core offering enables restaking on BNB Chain providing decentralized, scalable trust for the broader blockchain ecosystem. The platform supports developers and dApps by enhancing security and creating programmable trust across blockchain networks. Kernel is also developing its native token to unify governance and incentives, rewarding early supporters and driving ecosystem growth.
Future and Potential of Kernel
Kernel has reached significant growth milestones with over $1 billion in Total Value Locked (TVL), more than ten L2 integrations enhancing scalability, and 120+ DeFi integrations driving growth. The company has also surpassed 300,000 unique addresses highlighting widespread community adoption.
Cypher Capital's investment in Kernel underscores their commitment to supporting innovative projects that drive the evolution of blockchain infrastructure. Kernel, with its approach to continuously building scalable solutions for trust and security, has a strong potential for success in the rapidly evolving world of decentralized finance.
