Dubai, UAE, November 27th, 2024, Chainwire
Cypher Capital, a multi-strategy crypto investment firm, today announced its investment into Kernel, a restaking protocol on BNB Chain. Kernel has secured a total of $10 million in funding, which will be used to further develop its cross-chain restaking platform and expand its capabilities within the DeFi ecosystem.
Kernel’s core offering enables restaking on BNB Chain, which will provide decentralized, scalable trust for the broader blockchain ecosystem. The platform supports developers and dApps by enhancing security and creating programmable trust across blockchain networks. Cypher Capital joins a diverse group of investors backing Kernel, including Binance Labs, SCB Limited, Laser Digital, Bankless Ventures, Hypersphere, Draper Dragon, ArkStream Capital, and more.
“Kernel’s focus on restaking, and leveraging their robust user base to allow restaking on BNB Chain, aligns with our strategic vision of supporting projects that contribute to the evolution of blockchain infrastructure,” said Bill Qian, Chairman of Cypher Capital. “Kernel offers a fresh approach to building scalable solutions for trust and security, and we look forward to supporting its journey as they continue to expand the restaking ecosystem.”
With over $1 billion in Total Value Locked (TVL), more than ten L2 integrations enhancing scalability, and 120+ DeFi integrations driving growth, the platform has reached critical growth milestones. In addition, it surpassed 300,000 unique addresses that highlights the community’s widespread adoption. Kernel is also introducing its native token, which will unify governance and incentives, rewarding early supporters and driving ecosystem growth.
About Cypher Capital
Cypher Capital is a leading early-strategy venture firm focused on investing in Web3 infrastructure and applications that will drive the new digital economy. Guided by environmental, social, and governance for every investment decision, Cypher is shaping the future of digital currency, public markets, and Web3.
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About Kernel
Kernel is pioneering restaking on the BNB Chain, designed to provide decentralized shared security and accelerate innovation and growth across the ecosystem. Founded by experts in DeFi and restaking who scaled products to 1.3 Bn+ TVL, Kernel’s ecosystem of projects is already 25+ and growing rapidly. By lowering entry barriers for protocols and unlocking higher rewards, Kernel empowers developers to build 100x efficiently and users to maximize rewards on assets.
Contact
Media Manager
Shameem Sha
shameem@cyphercapital.com
