Kernel Secures Binance Labs Funding To Redefine Restaking on BNB Chain

November 25, 2024 – Bengaluru, India

Kernel is thrilled to announce funding from Binance Labs, solidifying their role as a core restaking infrastructure on BNB Chain.

This milestone marks a big leap in turning BNB’s economic security into programmable trust, empowering DApps (decentralized applications), middleware and the entire crypto ecosystem.

Kernel raised $10 million total funds across rounds, with the belief and backing of various 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.

Kernel is excited to continue building this journey and pushing the boundaries of what restaking can achieve.

Building beyond Ethereum

While restaking has reshaped Ethereum, Kernel is breaking new ground by bringing this innovation to BNB Chain, unlocking decentralized, scalable trust.

Backed by Binance Labs, Kernel is leading the restaking journey on BNB Chain and beyond.

Kernel’s milestones

Since launching, Kernel achieved the following.

• Over $1 billion TVL (total value locked) with Kelp and Gain on Ethereum
• Over 10 layer-two integrations for better scalability
• Over 120 DeFi Integrations, fueling rapid growth
• Over 300,000 unique addresses, showing trust and adoption

Kernel’s visionary ecosystem

Kernel is part of a broader vision, powering the future of DeFi through three flagship products.

• Kernel – Cross-chain restaking powerhouse on BNB Chain, launching mainnet soon
• Kelp – Liquid restaking on Ethereum with rsETH adoption skyrocketing
• Gain – Tokenized yields across DeFi, CeDeFi and RWAs (real-world assets)

Together, these solutions unlock over $100 billion in opportunities across restaking, DeFi, CeDeFi and RWAs.

Introducing KERNEL token

KERNEL aims to unify governance and incentives across Kelp, Kernel and Gain, rewarding early supporters and driving ecosystem growth.

Kernel will first launch on BNB Chain using BNB LSTs (liquid staking tokens) and restaked BNB as economic security to support DeFi innovation on BNB Chain.

Plans for expansion include incorporating BTC and its derivatives as restaked economic security.

Over 20 DApps – including decentralized AI coprocessor, Mira, and ZK (zero-knowledge) proof aggregation protocol, Electron – are going to leverage Kernel’s economic security.

Several LSTs and LRTs (liquid restaked…