BNB Chain And KernelDAO Drive BNB Restaking With Up To 50K BNB Delegation Support And $40M Ecosystem Fund
In Brief
BNB Chain unveils the “BNB Executive TVL Incentive Program #5,” which, combined with KernelDAO’s $40 million Ecosystem Fund, aims to fuel the growth of DeFi and advance the development of restaking.
Community-driven blockchain ecosystem, BNB Chain has unveiled the BNB Executive TVL Incentive Program #5. This initiative offers up to 5% of the additional staked BNB as delegation support to the top five protocols, with a total allocation of up to 50,000 BNB. When paired with the $40 million Ecosystem Fund from restaking protocol KernelDAO, it reflects BNB Chain’s ongoing dedication to the growth of decentralized finance (DeFi) and the development of restaking technology.
“Through the TVL Incentive campaign, we aim to empower projects to achieve their full potential while rewarding those who stake and help secure the expanding ecosystem,” said Marwan Kawadri, Head of EMEA at BNB Chain, in a written statement. “By locking in TVL and supporting their growth, we are not only advancing our mission of onboarding the next billion Web3 users but also positioning BNB Chain as a network of networks,” he added.
BNB Chain’s TVL Incentive Program #5 will open for registration on January 15th and run from January 21st to February 21st. This campaign aims to encourage projects that incorporate BNB staking, liquid staking, and restaking. It offers delegation staking support, providing up to 5% of the incremental Total Value Locked (TVL) growth in staked BNB during the campaign period. Each protocol can receive a maximum of 20,000 BNB, with a total pool of 50,000 BNB available. Rewards will be distributed to the top five performing protocols that contribute to innovation and adoption within the ecosystem.
KernelDAO Launches $40M Ecosystem Fund To Support Projects Building On BNB Chain Ecosystem
At the same time, KernelDAO has launched its $40 million Ecosystem Fund to drive development in restaking and shared security, aimed at supporting projects building on the BNB Chain ecosystem. Backed by prominent investors such as Laser Digital, SCB Limited, Hypersphere Ventures, Cypher Capital, ArkStream, and Levitate Labs, the fund is designed to assist developers in creating middleware and applications on BNB Chain.
KernelDAO has also committed to allocating 5% of its token supply for ecosystem development grants to support developers and partners within its ecosystem. This initiative is further strengthened by the involvement of more than 20 key middleware and application partners, including leading AI projects like Mira and Zero-Knowledge proof networks like Electron. The Ecosystem Fund is expected to expand the KernelDAO ecosystem by adding over 45 strategic partners.
KernelDAO, with over $2 billion in total value locked and active across more than ten chains, is backed by top investors such as Binance Labs, Laser Digital, SCB, and Cypher Capital. Its main products include Kernel, the restaking infrastructure on BNB Chain, Kelp LRT, a liquid restaking protocol on Ethereum, and Gain, a tokenized rewards program designed to help users maximize earnings through access to high rewards and premium airdrops.
“The launch of the Ecosystem Fund is a significant step towards increasing our efforts to build the restaking and DeFi landscape on the BNB Chain,” said Amitej Gajjala, Chief Executive Officer and Co-Founder of KernelDAO, in a written statement. “By empowering developers to build projects on Kernel, we aim to boost innovation across middleware and applications leveraging restaking,” he added.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
