Dubai, UAE, November twenty seventh, 2024, Chainwire
Cypher Capital, a multi-strategy crypto funding agency, in the present day introduced its funding into Kernel, a restaking protocol on BNB Chain. Kernel has secured a complete of $10 million in funding, which will likely be used to additional develop its cross-chain restaking platform and develop its capabilities inside the DeFi ecosystem.
Kernel’s core providing allows restaking on BNB Chain, which is able to present decentralized, scalable belief for the broader blockchain ecosystem. The platform helps builders and dApps by enhancing safety and creating programmable belief throughout blockchain networks. Cypher Capital joins a various group of buyers backing Kernel, together with Binance Labs, SCB Restricted, Laser Digital, Bankless Ventures, Hypersphere, Draper Dragon, ArkStream Capital, and extra.
“Kernel’s deal with restaking, and leveraging their sturdy consumer base to permit restaking on BNB Chain, aligns with our strategic imaginative and prescient of supporting tasks that contribute to the evolution of blockchain infrastructure,” mentioned Invoice Qian, Chairman of Cypher Capital. “Kernel provides a contemporary method to constructing scalable options for belief and safety, and we look ahead to supporting its journey as they proceed to develop the restaking ecosystem.”
With over $1 billion in Complete (EPA:) Worth Locked (TVL), greater than ten L2 integrations enhancing scalability, and 120+ DeFi integrations driving development, the platform has reached vital development milestones. As well as, it surpassed 300,000 distinctive addresses that highlights the group’s widespread adoption. Kernel can be introducing its native token, which is able to unify governance and incentives, rewarding early supporters and driving ecosystem development.
About Cypher Capital
Cypher Capital is a number one early-strategy enterprise agency targeted on investing in Web3 infrastructure and purposes that may drive the brand new digital economic system. Guided by environmental, social, and governance for each funding resolution, Cypher is shaping the way forward for digital foreign money, public markets, and Web3.
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About Kernel
Kernel is pioneering restaking on the BNB Chain, designed to offer decentralized shared safety and speed up innovation and development throughout the ecosystem. Based by consultants in DeFi and restaking who scaled merchandise to 1.3 Bn+ TVL, Kernel’s ecosystem of tasks is already 25+ and rising quickly. By decreasing entry boundaries for protocols and unlocking greater rewards, Kernel empowers builders to construct 100x effectively and customers to maximise rewards on property.
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