Summary:
Yieldnest is seeking community support to list its restaking token, ynBTCk, on Venus Protocol for BNB Chain. Depositors of ynBTCk on Venus will earn Kernel Points and Yieldnest Seeds that will be used for future incentives.
YieldNest is a next-generation restaking yield optimizer that offers users controlled, liquid, and risk-adjusted exposure to curated AVS categories. It works by delivering nLRTs and LRTs that wrap around pre-selected Isolated and Basket AVS categories. The Isolated AVS categories contain AVS within a single industry vertical, whereas the Basket AVS categories contain AVS across multiple verticals, including AI, rollups, oracles, and DA layers.
Initial Pool Bootstrap:
The Yieldnest team will contribute $10,000 worth of ynBTCk to bootstrap the Venus market. This early liquidity will help accelerate market activity and user participation.
Motivation:
By supporting ynBTCk, Venus Protocol can diversify its restaking options and capture a growing share of the restaking market. The integration will allow users to increase their exposure to BTC-based restaking opportunities on BNB Chain, which are gaining demand. Additionally, Venus users will have access to additional incentives and rewards on top of standard lending APYs.
ynBTCk Description:
ynBTCk is a Liquid Restaking Token (LRT) developed to optimize yield from Liquid Staking Tokens (LSTs) by restaking with Kernel. With ynBTCk, users can maximize their returns by restaking BTC tokens, such as BTCB, enzoBTC, solvBTC and solvBTC.BBN . ynBTCk is a strategy LRT dedicated to restaking into Kernel.
ynTCk Architecture:
- Value Accrual: ynBTCk auto-compounds rewards, enhancing token value over time. As rewards are distributed and compounded, the value of ynBTCk grows.
- ERC-4626 compliant
Risk Report and Technical Details:
Risk Report → Asset Risk Assessment: YieldNest ynBTCk - Llama Risk
ynBTCk Contract Address → 0x78839cE14a8213779128Ee4da6D75E1326606A56
ynBTCk Full Product scope → ynBTCk | YieldNest Docs
Markets
Thena → Pools | THENA
Conclusion:
Incorporating ynBTCk into Venus Protocol is a strategic move to drive liquidity, diversity, and security for the BNB Chain ecosystem. By doing so, Venus positions itself as a leader in the restaking market, providing users with a wider range of staking and lending opportunities.
