Kernel Secures Binance Labs Funding to Redefine Restaking on BNB Chain

Bengaluru, India, November 25, 2024 – Chainwire – Kernel, a trailblazer in restaking infrastructure, is excited to announce its successful funding round led by Binance Labs, solidifying its pivotal role in shaping the future of decentralized trust and security on the BNB Chain. This investment marks a critical milestone for Kernel, allowing the platform to redefine the concept of restaking and empower decentralized applications (dApps), middleware, and the broader crypto ecosystem.

Kernel Raises $10M to Revolutionize Restaking on BNB Chain

Kernel has raised a total of $10 million across multiple rounds, with backing from high-profile investors, including SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Cypher Capital, Draper Dragon, ArkStream Capital, DACM, HTX Ventures, Avid VC, GSR, Cluster Capital, Longhash Ventures, Via BTC, Side Door Ventures, NOIA, and DWF Labs. This funding will support the expansion of Kernel’s infrastructure and its vision of enabling decentralized, scalable trust for the future of finance.

Pioneering Beyond Ethereum: Kernel Brings Restaking to BNB Chain

While restaking has already reshaped Ethereum's DeFi landscape, Kernel is breaking new ground by expanding this innovative concept to BNB Chain. With the support of Binance Labs, Kernel is establishing itself as the leader in restaking for BNB Chain, unlocking the full potential of decentralized, scalable economic security and driving the next wave of innovation in the crypto space.

Kernel's Achievements to Date

Since its launch, Kernel has made impressive strides, including:

• 1. $1 Billion+ Total Value Locked (TVL) with Kelp & Gain on Ethereum

• 2. 10+ Layer-2 Integrations to improve scalability

• 3. 120+ DeFi Integrations, fueling rapid growth and adoption

• 4. 300K+ Unique Addresses, highlighting significant trust and adoption across the ecosystem

Kernel’s Visionary Ecosystem

Kernel is part of a broader, forward-thinking vision that aims to power the future of decentralized finance (DeFi) through three flagship products:

• 1. Kernel: The cross-chain restaking powerhouse on BNB Chain, soon to launch its mainnet

• 2. Kelp: The liquid restaking solution on Ethereum, driving the adoption of rsETH

• 3. Gain: Tokenized yields across DeFi, CeDeFi, and Real-World Assets (RWAs)

Together, these products will unlock over $100 billion in opportunities across restaking, DeFi, CeDeFi, and RWAs, providing developers with the tools they need to build efficient, scalable, and innovative solutions.

Introducing the KERNEL Token

The KERNEL token will play a crucial role in unifying governance and incentives across Kelp, Kernel, and Gain. By rewarding early supporters and driving ecosystem growth, the KERNEL token will foster greater participation in the decentralized economy.

Kernel will initially launch on BNB Chain, utilizing BNB Liquid Staking Tokens (LSTs) and restaked BNB as economic security to fuel DeFi innovation on the chain. Future plans include integrating BTC and its derivatives as additional restaked economic security, expanding the utility and potential of Kernel’s platform.

Over 20 decentralized applications (dApps), including Mira (a decentralized AI coprocessor) and Electron (a ZK proof aggregation protocol), are already leveraging Kernel’s economic security model. Additionally, several LST and LRT projects like ListaDAO, Solv, and YieldNest are collaborating with Kernel to enhance the utility of restaked assets.

Expanding to Other Blockchains

Kernel’s ambitions don’t stop with BNB Chain. The platform plans to expand its infrastructure to other Layer-1 blockchains, including BTC and beyond, providing robust economic security and supporting the growth of innovative applications. By integrating both native and liquid staking tokens across multiple chains, Kernel will increase capital efficiency, improve asset utility, and foster a developer-friendly environment for the next generation of decentralized applications.

A New Era of Trust and Security

Kernel is not only building cutting-edge infrastructure but is also laying the foundation for a new era of decentralized trust and security. With its unique approach to restaking, Kernel is redefining how decentralized applications can be secured and scaled, unlocking new opportunities for developers, users, and the entire crypto ecosystem.

What Binance Labs Says About Kernel

“Kernel exemplifies the kind of innovative project that aligns with Binance Labs’ mission of bringing more users into Web3 by supporting meaningful technology that advances the ecosystem,” said Alex Odagiu, Investment Director at Binance Labs. “Kernel is driving greater utility and scalability for BNB-based assets while building the infrastructure for a more resilient and developer-friendly restaking and DeFi ecosystem.”

Amitej G., Co-Founder of Kernel, shared his excitement: “We’re thrilled to have the support of Binance Labs in bringing the vision of restaking to life. Their backing has been crucial in helping us lay the groundwork for a more secure, scalable, and utility-rich DeFi landscape. This is just the beginning, and we’re excited to continue pushing the boundaries of restaking on BNB Chain and beyond.”

Join the Kernel Revolution

Kernel is not just building the future of DeFi – it’s transforming how trust, security, and scalability are integrated into decentralized finance. Follow Kernel’s journey and get involved with the ecosystem:

• Twitter: @KelpDAO & @KernelDAO

• Telegram | Discord

About Kernel

Kernel is pioneering the future of decentralized shared security on the BNB Chain. By offering innovative restaking solutions, Kernel empowers developers to build faster, more efficient, and scalable decentralized applications. With a growing ecosystem of projects and over $1.3 billion in TVL, Kernel is lowering barriers to entry for protocols while maximizing rewards for users, setting the stage for a new era of DeFi innovation.

Visit KernelDAO.com for more information.