Overview
Chaos Labs does not support listing ynBNB on Venus’ BNB deployment at this time.
Technical Overview
ynBNB is a LRT developed by YieldNest to maximize yields from BNB LSTs. It enables users to restake BNB LSTs to earn rewards through restaking protocols like Kernel, Karak, and Binomial. Currently, ynBNB exclusively supports slisBNB. In addition, like ynETH, ynBNB is not a rebasing token, meaning it appreciates in value over time as it accrues rewards.
Market Cap & Liquidity
According to BscScan, ynBNB currently has 171 holders and a total supply of 899, which translates to a $624K market cap. In addition, Despite an increase in ynBNB’s liquidity since our last review, it remains low, with only two liquidity pools available at the time of writing, holding TVLs of $859K and $44K, respectively.
Recommendation
Considering the small market cap and limited liquidity, we do not recommend listing ynBNB on Venus at this time. Should liquidity improve, Chaos Labs will revisit this recommendation.
Disclaimer
Chaos Labs has not been compensated by any third party for publishing this recommendation.
Copyright
Copyright and related rights waived via CC0