YieldNest, the most innovative liquid restaking protocol for Ethereum, has launched on Mainnet after a successful initial Contribution Round. The restaking protocol offers Ethereum holders the option to gain yields for allocating their ETH holdings, while still retaining the liquidity of their assets.
Benefits of Restaking Using YieldNest
EigenLayer has changed the concept of staking. Taking a page out of DeFi staking and LPs, EigenLayer has broken down barriers to revenue generation and security. By allowing restaking ETH tokens for other sidechains and projects, providing pooled security for trust networks.
This is where YieldNest comes in handy. Instead of complex methods required to stake Ethereum, YieldNest offers a simplified version. At the same time, the innovative protocol offers ynETH in return. This liquid restaking token (LRT) can be then used further for additional yields and rewards, YieldNest Seeds program, and even for future airdrops. The ynETH token also provides the option to earn EigenLayer points.
And of course, the base yield rewards for staking ETH remain!
With YieldNest, ETH holders not only contribute to the security of Ethereum, but also use their ynETH to further secure other protocols and networks, and get rewarded for it.
YieldNest Mainnet Launch and Campaigns
Thanks to unprecedented backing by some of the top VCs and individuals, YieldNest has been able to not only secure a massive $5.2 million in its Initial Contribution Round, but also launched on mainnet. With the mainnet launch, the world is introduced to the most prominent and liquid restaking protocol out there.
The protocol’s innovative approach had been recognized early on, with its Initial Contribution Round attended by powerful backers. These included some of the biggest names in the industry, such as Faculty Group (lead contributor), Backed VC, Michael Egorov (Founder, Curve), Allen Day (from Google), and others.
YieldNest CEO Amadeo Brands was visibly excited at the launch, saying,
“We are thrilled to announce the launch of YieldNest on Mainnet. This milestone represents our dedication and vision to revolutionize the liquid restaking landscape. With YieldNest, we are not just providing a solution; we are shaping the future of decentralized finance.”
Following the mainnet launch, YieldNest announced 2 different campaigns for early participants:
- Seed Program: ETH stakers will receive a massive 5x boost on their rewards for the first week. The Seed Program ends on May 28th, 2359 hrs UTC.
- Pioneer Program: Stakers who commit 5 ETH and above gain a permanent 15% boost on seeds, along with a one-of-a-kind NFT that they can show off to their peers. Pioneer Program is eligible to participate before May 28, 2359 hrs UTC.
Simple, Secure, And Lucrative
Partaking in YieldNest liquid restaking is easy. All users have to do is to visit the website and access the app, select ynETH as LRT, deposit ETH, and enjoy the rewards.
With ynETH in their wallet, depositors can sit back and relax. Restaking vie YieldNest is made secure, with two third-party code audits (premium firms Zokyo and ChainSecurity).
YieldNest Risk Team, an independent entity, analyzes AVS and operators to make sure yields for ETH depositors are maximized against the inherent risks. The team is supported by LlamaRisk, a similar independent risk analysis team from Curve.
YieldNest is the culmination of some of the best industry experts, who have spent considerable time developing and understanding restaking mechanisms. The result is YieldNest, a liquid restaking protocol on the bleeding edge of DeFi innovation.
To take advantage of liquid restaking, better yields, and limited-time boosts, visit YieldNest today.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
