YieldNest Announces ynBNB, the First Liquid-Reststaking Token on the BNB Chain

YieldNest has announced the launch of ynBNB, the first liquid-restaking token on the BNB Chain, enabling users to earn additional returns

YieldNest has unveiled ynBNB, a first-of-its-kind liquid-restaking token on BNB Chain. This token is designed to provide users with an opportunity to generate additional yields on their staked BNB.

The ynBNB token serves two primary functions. Firstly, it facilitates earning extra yields. Secondly, it rewards users with points known as “Seeds.” These points can be redeemed in the future for token airdrops, serving as a key incentive to encourage restaking and attracting new users to the YieldNest ecosystem.

YieldNest integrates with several established restaking protocols, including Kernel Protocol, Karak, and Binominal, enabling users to access a broader range of platforms and opportunities to earn yields. By combining staking and restaking, these protocols offer the potential to maximize gains.

Since its introduction on Ethereum in June 2023, restaking has seen rapid growth, accumulating over $25 billion in total value locked (TVL). Its expansion to other blockchains, such as Solana, which has secured over $4 billion in TVL, highlights its increasing significance in the crypto market.

YieldNest's Seeds program plays a crucial role in this innovation. Users who accumulate sufficient Seeds points will be eligible to participate in future token airdrops, creating an incentive cycle to maintain and increase their restaking participation.

To cater to the diverse needs of users, YieldNest tailors its restaking strategies based on individual risk tolerance and investment goals. The company has employed an in-house independent risk team to manage and balance these aspects, ensuring that the strategies align with each user's profile.

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