Just dropped a short technical blog on @Kernel_DAO, covering Kernel, Kelp, Gain, Kred & KUSD. If you're into restaking & boosting yields in DeFi, this one's for you.
Breaking it down here in a thread. Let's dive in 🔽
Kernel DAO is a restaking protocol that lets DeFi users squeeze more yield from staked tokens or LSTs across chains.
It extends trust from bigger established players like Ethereum & BNB Chain to smaller protocols, unlocking capital efficiency & 10x cheaper security. (Basically it allows new/early chains to tap into operator network!!)
Current TVL? $2.12Bn!!
Valuation check: FDV around $200Mn, annual revenue ~$4Mn.
That's like a 31-54x FDV/Revenue ratio. Priced for growth! If you're betting on restaking boom & cool with dilution + EigenLayer comp risks, it's a solid high-beta play.
Small position, big potential? (attached revenue table)
First up: Kernel - Pooled Security layer.
As I said Earlier, Small/new chains plug into Kernel for shared security instead of bootstrapping their own validator network (which takes mad time & capital!!).
Currently 25+ protocols live on it. Shared security ftw! (More details 🔽)
Quick misc: Merkle tree creation - basically a Merkle root (hash) for efficient data retrieval. 1 on-chain root vs thousands of offchain writes. Saves a lot gas fees!!
@KelpDAO : Ethereum Liquid Restaking. Restake ETH or LSTs without losing liquidity - get rsETH back.
Utilises EigenLayer under the hood, but adds additional benefits through the liquidity token. No lockups, keep earning!
Also you use rsETH in DeFi protocols across the space.
Gain: Non-custodial yield vaults to max & streamline rewards on restaked assets.
3 vaults live rn with $261.25Mn TVL. Different strategies for yields - stable, high growth, airdrop farming.
Example for the stable vault where we need to to deposit stables USDt/USDc minting a liquidity token sbUSD to us, this vault then uses the bleow stratgy in order to generate yeilds.
Doesn’t know much about Basis Trade Arbitrage & SparkDEX, but leveraging pendle Pt/Yt modle principle token & yeild token.
If this vibes, check the full blog: [].
What do you think of Kernel DAO? Bullish on restaking? Drop thoughts below! @Kernel_DAO
@KelpDAOtidy-leaf-2a6.notion.site/Kernel-DAO-Ker…
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