Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Restaking startup YieldNest builds new liquid restaking token on EigenLayer
ADOPTION NEWS

Restaking startup YieldNest builds new liquid restaking token on EigenLayer

By Crypto FlexsAugust 20, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Restaking startup YieldNest builds new liquid restaking token on EigenLayer
Share
Facebook Twitter LinkedIn Pinterest Email

Re-staking startup YieldNest is tapping into the rapidly growing liquid staking derivatives market with a new token. Called ynLSDe, the system is designed to allow anyone who stakes ether on leading decentralized liquid staking platforms, including Lido, FRAX, Origin Protocol, and Mantle, to earn additional yields.

Liquid Staking DeFi (LSD) is a tokenized representation of staked assets that can be used across a variety of DeFi protocols. Ethereum

-1.48%
Staking — the process of rewarding users for contributing to the security of the Ethereum network — is non-transactionable. LSD circumvents this by creating a proxy token that can be used elsewhere while the underlying ETH is staked.

Restaking takes this process one step further by allowing users to take their LSD tokens and redistribute them to secure additional decentralized services. Likewise, ynLSDe is building on this restaking trend. Pioneered by giants like EigenLayer, restaking has grown to a $50.5 billion market, according to DeFiLlama data.

Re-staking proponents argue that the system helps improve the security of smaller blockchain apps that cannot raise the capital and community support needed to operate a proof-of-stake security system.

“Users earn ynLSDe by staking stETH (Lido), sfrxETH (FRAX), or mETH (Mantle) or OETH (Origin Protocol) into YieldNest’s restaking pool. ynLSDe is a tradable and liquid ‘receipt’ token that represents the underlying yield-generating restaking token. The restaking rewards generated are distributed back to ynLSDe holders,” the team wrote in a statement.

YieldNest aggregates potential yields from re-staking platforms, including EigenLayer Points, YieldNest Seeds, and other “actively verified services” (a general term for dapps secured by re-staking protocols). The platform offers a curated basket of different yield-generating strategies tailored to different risk tolerances.

YieldNest previously launched the ynETH token, which is a native re-staking token that leverages trading strategies managed by the YieldNest risk management team.

Built on EigenLayer, the platform is backed by Faculty Capital, Backed VC, Proof Capital, and others. Angel investors include Curve founder Michael Egerov, Kyber founder Loi Luu, and FRAX founder Sam Kazemian.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, influential and timely information on the cryptocurrency industry. Current financial disclosures are as follows:

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025

Trump is a magical Eden encryption wallet tie, Trump coin deep 13%

June 5, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Using BCC mining increases daily passive income of $ 57,700

June 5, 2025

Ray for the square and scalable AI solutions and RAG pipelines on all scale

June 5, 2025

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

How Algorand is quietly building the future of finance around the world

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025
Most Popular

Aave Joins Binance’s BNB Chain Ecosystem

February 23, 2024

Marathon Digital Holdings Report Progress in April 2025 Bitcoin Mining

May 10, 2025

As Litecoin (LTC) Faces a 15% Weekly Slump, Can Chainlink (LINK) and Arbitrum (ARB) Navigate the Bitcoin ETF Wave?

January 5, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.