KernelDAO operates through three main products:

• Kernel – Shared security product on BNB Chain

• Kelp LRT (rsETH) – Liquid restaking token for Ethereum

• Gain – Automated reward vaults on Ethereum

These products cater to both DeFi and Real-World Assets (RWAs), offering a wide range of utility.

KernelDAO Team

Co-Founders:

• Amitej Gajjala – Co-Founder

• Dheeraj Borra – Co-Founder

Management & Technical Team:

• Rahul Pramod Jaguste – Director of Engineering

• Soufia Trabelsi – Head of DeFi

• Indrajit Ghosh – Head of Partnerships & Group Marketing Head

Investors and Partnerships

KernelDAO has quickly established a strong network of investors and partners. Key contributors include Binance Labs, Laser Digital (Nomura), SCB Limited (SCB Ventures), Cypher Capital, Hypersphere Ventures, Bankless Ventures, GSR, HTX Ventures, DWF, and ArkStream Capital.

Other ecosystem collaborations include over 50 DeFi platforms such as Aave, Compound, Balancer, and Morpho.

• Total TVL: ~$300M for Kernel, ~$2B for Kelp LRT

Project Concept and How It Works

KernelDAO aims to:

• Allow users to earn additional rewards from their staked assets

• Provide efficient security for operators and validator networks

• Bridge DeFi and CeFi, creating new financial products

1. Kernel: Provides shared security on BNB Chain with enhanced reward opportunities and capital efficiency.
2. Kelp LRT (rsETH): Offers instant liquidity, risk management, and higher rewards for staked Ethereum.
3. Gain Vaults: Non-custodial vaults that optimize rewards across DeFi, CeDeFi, and RWAs.

Governance

The native token $KERNEL serves as the governance and economic security tool across the ecosystem.

• Governance: Users vote on platform fees, slashing conditions, and operator selections.

• LRT & Gain: Participate in AVS selection, rebalances, operator proposals, and protocol fee management.

Roadmap

KernelDAO Ecosystem:

• Q2 2025 – Operator Testnet launch

• Q3 2025 – Operator Mainnet & Middleware Testnet

• Q4 2025 – Middleware Mainnet launch & slashing introduction

Kelp LRT:

• Integration of rsETH on Ethereum L2s

• Capacity expansion on lending and DeFi platforms

Gain Vaults:

• Expansion to BTC and stablecoin assets

• RWAs and CeDeFi vaults

• Multi-asset class expansion

KernelDAO Token Information

• Token: $KERNEL

• Total Supply: 1 Billion

• Max Supply: 1 Billion

• Circulating Supply: 282.36 Million

Use Cases

• Stake for restaking security

• Slashing insurance for rewards

• Governance voting

• Protocol participation in LRT & Gain products

Token Distribution

• Community & Users: 55%

• Team & Project: 15%

• Investors & Partners: 20%

• Reserve & Ecosystem Funds: 10%

Exchanges & Listings

KernelDAO ($KERNEL) has been listed on Upbit. Additional listings on other centralized and decentralized exchanges are planned, including Binance, Huobi, OKX, Gate.io, and Uniswap, improving liquidity and accessibility for users.

Ecosystem & Features

• Kernel: Shared security, multi-node validation

• Kelp LRT (rsETH): Liquid restaking token, high rewards, instant liquidity

• Gain Vaults: Non-custodial, professionally managed reward strategies, DeFi & RWA compatible

KernelDAO introduces a new paradigm in PoS restaking and liquid staking, providing capital efficiency and risk management benefits for both investors and DeFi users.

Official Links

• Website
• Twitter
• Telegram

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What is Solayer (LAYER)?

sSOL is the token that represents staked SOL within the Solayer protocol. Users can stake their SOL tokens through Solayer to mint sSOL.

• Restaking: Users can restake their sSOL to secure other networks.
• Delegation: sSOL can be delegated to validators or Automated Validator Sets (AVS).
• Liquidity Provision: In the future, sSOL will be usable for providing liquidity in DeFi applications.
• Reward Claiming: sSOL enables users to claim staking rewards.

Core Features and Functions

• Restaking Mechanism: Users can maximize the efficiency and earning potential of their assets by restaking SOL tokens.
• Shared Validator Network: Offers a secure and efficient validator network for verification processes.
• Reward Distribution: Participants in the restaking process earn rewards, encouraging active engagement.
• User-Friendly Interface: Provides an intuitive interface for managing restaking activities seamlessly.

Why Built on Solana?

Solayer was founded by Rachel Chu and Jason Li on Solana due to its high transaction speed and low costs. Solana’s robust ecosystem and active community offer a strong foundation for Solayer’s growth, ensuring users a smooth and efficient restaking experience.

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Solayer’s Architecture

Restaking Pool Manager

• Asset Flow Management: Converts SOL or Liquid Staking Tokens (LSTs) into Solayer-specific tokens (e.g., sSOL).
• Token Minting: Provides Solayer tokens for users to participate in liquidity reward programs.

Shared Validator Network (SVN)

• Cross-Chain Compatibility: Enables security sharing across different chains.
• Optimized Resource Distribution: Allocates network resources effectively based on staking volume.

Solayer Restaking Mechanism

Solayer allows users to restake their native SOL tokens through the following steps:

1. SOL tokens are converted into an intermediate form called sSOL-raw.
2. sSOL-raw is then converted into sSOL, which is returned to the user.
3. All transactions are performed in a single operation.

Supported LSTs include:

• Marinade-SOL (mSOL)
• JITO-SOL (JITO-SOL)
• Blaze-SOL (bSOL)
• Infinity-SOL (INF)

Investors

Solayer’s seed round attracted top-tier investors such as Polychain Capital and Hack VC, who led the funding. Other key contributors include Binance Labs, Bitscale Capital, Big Brain Holdings, and Borderless Capital. These investors collectively enabled Solayer to raise $12 million in funding, achieving a valuation of $80 million, reinforcing confidence in the project’s innovative technology and multichain-focused vision.

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EigenLayer is a restaking protocol on Ethereum that allows assets like Staked Ether (STETH) to be repurposed and staked multiple times. This provides investors with additional yield opportunities while enabling other protocols to leverage Ethereum’s security. EigenLayer has positioned itself as a critical component of the Ethereum network’s infrastructure, drawing both praise and concern from the Ethereum community.

The Growing Popularity of Restaking

Restaking has been seen as a way to bring new capital into the crypto ecosystem, and it has the potential to create a new asset class. By allowing protocols to use restaked assets for network security, restaking alleviates the need for launching a token to secure the network, significantly lowering the barrier for developers and decentralized applications (DApps).

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According to DefiLlama, restaking protocols currently have a total value locked (TVL) of approximately $26.9 billion, with EigenLayer accounting for the majority of this, holding around $18.2 billion.

The EIGEN token gained significant attention, entering the top 100 cryptocurrencies by market capitalization in October due to the rise of EigenLayer. However, it has since dropped out of the top 100 and is currently ranked 108th by market cap.

In November, EigenLayer expanded its restaking options to include Wrapped Bitcoin products, allowing users to stake uniBTC on the ARPA Network, a protocol built on EigenLayer, in exchange for yield.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Eigen Foundation Allocates 1% of EIGEN Supply to ETH Protocol Guild appeared first on Coin Engineer.

The Evolution from Rehypothecation to Restaking

Rehypothecation, which is like the notion of restaking, is very popular, particularly in the world of Ethereum. An EigenLayer-powered ETH 2.0 staking system means more income for asset holders by realizing locked-up ETH through derivatives. As a staggering amount of ETH is now re-staked, the phenomenon is expanding to other chains, like Solana, with new players like Jito ushering the trend into the market.

Backers, on the other hand, talk about blockchain invincibility, but critics warn that these risks resemble the 2008 financial crisis. Altogether, ETH stakers, despite lower incomes compared to conventional staking rates, are around 3%.

MetaMask Takes on MEV: Protecting Users in the Crypto Wild West

Along with that, the crypto community suffers from an MEV similar to high-frequency trading in a conventional market. In the same line of defense, MetaMask, the most popular Ethereum wallet, introduces a new feature that imitates dark pools’ mechanisms for countering MEV abuse in order to protect users from price manipulation.

As the crypto economy mirrors and diverges from traditional finance, one thing remains clear: the art of making as much money as possible while at the same time protecting your investments is a task of ages.

The post Unpacking Restaking: The Crypto Economy’s Answer to Financial Engineering appeared first on Coin Engineer.

What is EigenLayer?

EigenLayer is a groundbreaking protocol built on Ethereum that introduces “restaking.” This innovative mechanism enables users to leverage their staked ETH and Liquid Staking Tokens (LSTs) to contribute to the security of various decentralized applications (dApps) and services within the Ethereum ecosystem. This not only enhances the overall security of the network but also unlocks additional reward opportunities for stakers.

Key Features of EigenLayer:

• Restaking: Diversify your stake by contributing to the security of multiple applications and services.
• Increased Rewards: Earn additional rewards on top of base staking yields.
• Enhanced Security: Strengthen the trust ecosystem of Ethereum with distributed security.
• Decentralized Innovation: Foster innovation by offering secure trust infrastructure for dApps.
• EigenDA: Ensure efficient data availability with a dedicated service integrated into the protocol.

How Does EigenLayer Work?

1. Stake Assets: Deposit ETH or LSTs on the Ethereum network using the EigenLayer app.
2. Opt-in to EigenLayer: Choose specific smart contracts to participate in restaking.
3. Secure Services: Contribute to the security of various dApps and services through Active Validator Services (AVS).
4. Flexible Participation: Restate your assets in multiple security pools simultaneously.
5. Delegation and Operators: Delegate your restaked assets to operators for specialized management.
6. Smart Contract Management: Utilize smart contracts like EigenPod and StrategyManager for smooth operations.

EigenDA: Decentralized Data Availability

Developed by EigenLabs, EigenDA is a crucial component of EigenLayer, ensuring secure and efficient data storage and accessibility. It enables restakers to delegate their stakes to node operators in exchange for service payments, facilitating robust data availability for the entire network.

EigenLayer Airdrop: Speculation vs. Reality

As of February 2024, EigenLabs has not confirmed any plans for an airdrop. While speculation persists, the main value of EigenLayer lies in its tangible contributions to Ethereum’s security and infrastructure.

EigenLayer Points and Potential Future Airdrops

Users earn “restaked points” for participating in restaking, potentially serving as criteria for future airdrops. Currently, you can earn points by:

• Restaking LSTs: Earn points based on the amount and duration of staked tokens.
• Using Liquid Restaking Tokens (LRTs): Stake LSTs indirectly through platforms like Ether.fi and earn points while maintaining liquidity.

EigenLayer Team and Funding

EigenLabs, a Seattle-based team with strong academic and engineering backgrounds, develops EigenLayer. Their $50 million Series A funding round reflects investor confidence in the project’s potential.

Conclusion

EigenLayer is a game-changer for Ethereum, offering a more secure and rewarding staking experience. Its innovative features, including restaking and EigenDA, demonstrate its significant impact on the network. While airdrop speculations abound, EigenLayer’s true value lies in its contribution to blockchain infrastructure, positioning it as a key player in the future of decentralized finance.

The post What is EigenLayer: Restaking, EigenDA & Airdrop appeared first on Coin Engineer.