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KernelDAO, a leading re-engagement protocol platform, has launched a $40 million Ecosystem Fund to accelerate its platform development and strengthen its position in the BNB Chain ecosystem.
This initiative demonstrates KernelDAO’s focus on improving DeFi (DeFi) and building stronger security with its re-engagement solutions.
KernelDAO’s New Ecosystem Fund: What You Need to Know
The newly launched Ecosystem Fund aims to support developers building on KernelDAO’s re-engagement infrastructure. This move comes from KernelDAO’s recent achievement of managing $2 billion in assets across multiple blockchains, including Ethereum and BNB Chain.
The launch of the Ecosystem Fund is an important step in strengthening efforts to build a re-engagement and DeFi environment on BNB Chain. By empowering developers to build projects on the Kernel, we aim to drive innovation across re-engagement and middleware applications,” said Amitej Gajjala, CEO and Co-Founder of KernelDAO, said.
Ecosystem Foundation attracted support from major venture capital firms, including Laser Digital, SCB Limited, Hypersphere Ventures and Cypher Capital. These investors are following KernelDAO’s vision to become the leading re-engagement infrastructure on BNB Chain.
Bill Qian, President of Cypher Capital, highlighted the potential impact of KernelDAO’s innovative approach to re-engagement.
“We believe that KernelDAO’s innovative approach to re-engagement and shared security will play a pivotal role in the growth of the BNB Chain ecosystem. At Cypher Capital, we are committed to supporting groundbreaking projects, and KernelDAO is no exception,” he said.
Besides funding, KernelDAO is dedicating 5% of its Token supply to ecosystem development grants. This initiative aims to accelerate growth and strengthen KernelDAO’s position in this space.
Total Key Value of KernelDAO Exceeds 100 Million USD
Since its mainnet launch in December 2024, KernelDAO has grown rapidly. Total value locked (TVL) reached 50 million USD in the first week and has now surpassed 100 million USD. Kelp, KernelDAO’s flexible re-engagement protocol, currently manages over $2 billion in TVL, becoming a key player in the Re-Engagement Tokens (LST) market.
The $40 million Ecosystem Fund marks a new chapter for KernelDAO. With support from leading investors and more than 20 Dynamic Verification Networks (DVNs), including projects in AI and Zero-Knowledge Proofs, it sees an increasing role in major platform in the blockchain space.
Developers and partners can find more information about the fund above KernelDAO website.
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