BNB Chain’s Leading Restaking Platform—KernelDAO—Prepares for Its Own Token Launch
The post BNB Chain’s Leading Restaking Platform—KernelDAO—Prepares for Its Own Token Launch appeared on BitcoinEthereumNews.com.
The BNB Chain restaking space is set for a major event as KernelDAO gets ready to release its $KERNEL token in March 2025. Backed by Binance Labs, KernelDAO has already secured over $2 billion in total value locked across its three key products: Kernel, Kelp, and Gain. Each product addresses a different aspect of the rapidly evolving restaking market. Surging Adoption on BNB Chain Kernel stands out as BNB Chain’s largest restaking infrastructure, currently holding $450 million in TVL. Over 20 decentralized validation networks (DVNs) depend on Kernel’s platform, and an additional 45 projects are slated to join through KernelDAO’s recently established ecosystem fund. A $10 million financing round in 2024 led by big funds like Binance Labs, Laser Digital, SCB Limited, and Hypersphere Ventures laid the groundwork for KernelDAO’s growth. The team kept the ball rolling with an announcement of a $40 million strategic ecosystem fund contributed by some of the same backers, along with Cypher Capital. The fund is dedicated to guiding more than 45 projects toward integration with Kernel’s infrastructure. Such an outreach both broadens the $KERNEL token’s use cases and helps fortify the BNB Chain through increased shared security. The $KERNEL Token and Distribution The upcoming $KERNEL token forms the backbone of KernelDAO’s governance and utility framework. Users will be able to stake $KERNEL to safeguard applications in the ecosystem and provide slashing insurance, earning a share of protocol rewards. The token also functions as a governance instrument across Kernel, Kelp, and Gain, granting holders a direct channel to shape protocol upgrades, fee structures, and network expansion plans. On top of these roles, $KERNEL supports liquidity provision in automated market makers (AMMs), opening the door to further rewards for participants. Some of the ecosystem’s leading protocols have already taken notice. Mira, an AI co-processor, and YieldNest,…
Filed under: News - @ March 8, 2025 4:22 pm