Yieldnest Launches The First BNB Liquid Restaking Token Ynbnb On BNB Chain

ynBNB improves yield and provides access to Kernel, Karak, and Binominal ecosystems

London, UK, Sept. 12, 2024 (GLOBE NEWSWIRE) -- YieldNest, an asset management layer for restaking, announces the launch of the ynBNB – the first BNB Liquid Restaking Token (LRT) on BNB Chain. Following the restaking boom, YieldNest explores liquid restaking opportunities on the largest layer 1 chain by user count, BNB Chain.

By restaking into ynBNB, users can earn additional rewards beyond their native BNB staking returns, paving the way for new levels of engagement and profitability in the crypto space. ynBNB is a seamless, efficient, and highly rewarding restaking solution that makes assets work at their full potential across multiple protocols.

How does it work?
A Liquid Restaking Token allows users to restake their already-staked tokens in a way that keeps them liquid, meaning they can still use their tokens while earning additional rewards. ynBNB works on top of BNB Chain's prominent slisBNB token. It's a yield-bearing & liquid staking token provided by Lista – a prominent staking service on the BNB Chain that allows users to stake their BNB tokens. YieldNest offers an opportunity to restake slisBNB into ynBNB through its platform and earn additional rewards.

YieldNest partners with top-tier restaking protocols on BNB Chain to optimize returns, including Kernel, Karak, and Binomial. By utilizing its advanced infrastructure, YieldNest has developed a sophisticated vault system that intelligently allocates users' assets to the most profitable yield-generating strategies.

How does it improve the yield?
By restaking slisBNB into ynBNB, YieldNest aggregates all sources of potential yield for BNB restakers:

1. Fast Track into Kernel, Karak, and Binominal Restaking Rewards: Offers access to Karak, Binomial and Kernel's restaking rewards and points system.
2. BNB APY Yield: By staking BNB, users can contribute to BNB network security & earn yield.
3. YieldNest Seeds: The Seeds program is designed to reward active engagement and early support from community members and partners. By accumulating Seeds, users can earn a stake in future rewards and gain eligibility for upcoming airdrops.
4. Future AVS Yields: Actively Validated Services (AVSs) or Networks provide users with additional benefits in the form of yields for crypto-economic security.
5. Future AVS Airdrops: Get the opportunity to participate in airdrops from Actively Validated Services and add more tokens and rewards to a portfolio.

How does YieldNest balance risks and return?
Restaking, like all investments, comes with risks such as potential slashing (loss of tokens due to validator misconduct) and market volatility. YieldNest tailors its restaking strategies to align with each user's risk tolerance and investment goals. Risk analysis will be powered by YieldNest’s Independent Risk Team, which will dive deeply into the purpose and usefulness of restaking and identifying which blockchains are best suited.

"YieldNest aims to become a powerhouse in Liquid Asset Management, offering premier programmatic yield layer for restaked DeFi assets. The launch of ynBNB marks the beginning of our journey to develop the restaking landscape on the BNB Chain. Our new token, ynBNB, enhances returns, facilitates participation in Kernel, Karak, and Binomial's ecosystems, and earns additional incentives. This launch is a significant step towards a future where crypto staking and restaking are more rewarding, accessible, and secure than ever before." – says Amadeo Brands, YieldNest's CEO & Co-Founder.

About 
YieldNest is an asset management layer for restaking. Its liquid restaking protocol optimizes yield generation on staked assets through diversified, risk-adjusted strategies. Built on the EigenLayer protocol, it maximizes yield by mitigating slashing risks through due diligence and strategic staking choices. YieldNest's innovative approach ensures returns by integrating advanced strategies and a robust yield layer across DeFi.
YieldNest is backed by Faculty Capital, Backed VC, Proof Capital, and others, along with notable angels, including the founders of Curve (Michael Egorov, Martin Krung & Naga King), Kyber (Loi Luu), Frax (Sam Kazemian), and other contributors.
For more information, please visit https://www.yieldnest.finance/

CONTACT: Yury Molodtsov
PR Partner
MA Family
yury-at-ma.family