Binance Labs has announced its investment in Kernel, a staking infrastructure aimed at enhancing the security and utility of the BNB chain.
The Kernel aims to use staking to transform the security of BNB into programmable trust, supporting a wide range of crypto services, applications, and middleware.
Kernel Will Launch First on-chain BNB
Initiation phase will focus on the integration of BNB Liquid Staking Tokens (LSTs) and retaken BNB as an economic security to drive innovation in DeFi on-chain BNB.
Besides, Kernel plans to expand through integrating Bitcoin and its derivatives into its staking framework. More than 20 decentralized applications (dApps) will utilize the economic security of the Kernel. Including AI Mira co-processor and ZK-proof Electron convergence protocol.
Meanwhile, partnerships with projects such as ListaDAO, Solv and YieldNest will continue to enhance the utility of retaken assets. Kernel’s long-term vision includes expanding its infrastructure to other layer-1 blockchains.
Kernel’s approach integrates native and liquid staking tokens from BNB, BTC and other yield-bearing assets. This has the potential to optimize asset utility and improve capital performance.
“The Kernel exemplifies the type of innovative project that aligns with Binance Labs’ mission to bring more users to Web3 by enabling meaningful technology and catalyzing the ecosystem,” said Alex Odagiu, Director Investment Director at Binance Labs said in a press release.
This investment follows Binance Labs’ recent backing of Lombard, a Bitcoin-focused liquidity staking platform. Currently, Lombard’s LBTC Token holds 40% of the Bitcoin liquidity staking token market and aims to expand its secure multi-chain staking protocol.
Furthermore, Binance Labs has entered the field of decentralized science (DeSci). The company has invested in BIO Protocol, marking its first entry into this space.
Overall, Binance Labs appears to have adopted a broader strategy to diversify its $10 billion portfolio into innovative and influential sectors.