The Liquid Staking and Restaking industry now boasts a total value locked (TVL) of more than $50 billion, this is a significant increase from $7 billion in early 2023. This surge underscores the remarkable growth within the market. Pioneering protocols such as YieldNest continuously innovate and refine their services to cater better to the DeFi community. In a recent announcement, YieldNest disclosed a strategic partnership with Origin Protocol, integrating Origin’s primeETH into its forthcoming Liquid Restaking Derivative (ynLSD) product.
While the merger highlights substantial growth within DeFi, PrimeStaked users stand to benefit from YieldNest’s pioneering technology, promising exceptional advantages. This partnership aligns with YieldNest’s goal of becoming the number one restaking protocol that provides the best risk-adjusted returns. Some analysts and industry experts suggest that this merger has the potential to redefine the DeFi landscape.
With this, YieldNest is anticipating to launch ynLSD (ynLSDe & ynLSDs) and ynUSDs
The ynLSD framework enables users to maximize their yield by utilizing additional DeFi tokens such as Origin Ether (OETH). Through these LSDs, users can stake their assets while maintaining liquidity, allowing them to participate in various DeFi opportunities using their staked tokens.
YieldNest’s initial products will include ynLSD on EigenLayer (ynLSDe) and ynLSD on the Symbiotic ecosystem (ynLSDs).
ynLSDe is built on EigenLayer and was developed to enable users to access new ETH yields and EigenLayer rewards. With ynLSDe, YieldNest plans to utilize the EigenLayer infrastructure to ensure users enjoy better yield opportunities through YieldNest’s restaking strategies.
ynLSDs is a groundbreaking product that revolutionizes restaking on the Symbiotic ecosystem. The ynLSDs token is engineered to utilize Symbiotic’s infrastructure, allowing users to enjoy high yields and other rewards associated with the ecosystem.
This upcoming product will provide exciting returns and Symbiotic rewards on digital assets priced in US dollars. The product not only offers returns but also considers the degree of risk involved in achieving such returns (risk-adjusted returns). ynUSDs offers such risk-adjusted returns through its innovative strategies that mirror the distinctive attributes of stablecoins.
YieldNest demonstrates its commitment to creating viable, long-term products with the upcoming launch of ynLSD and ynUSDs. The protocol plans to transition into a decentralized autonomous organization (DAO) and form a subsidiary DAO structure, empowering community members to make governance decisions. The team aims to establish a self-sufficient protocol that operates without the influence of the founding members. The governance framework will feature various compartments led by community members selected based on their staked YND tokens.
By transferring governance to its users, YieldNest strives to achieve self-sufficiency. Their collaboration with Origin expands user opportunities, enhancing the platform and providing additional returns and rewards.
YieldNest is a cutting-edge next-generation protocol offering simplified liquid restaking strategies. Its mission extends beyond providing solutions to revolutionizing the DeFi space. YieldNest aims to unlock advanced strategies, positioning itself as a one-stop shop for the liquid restaking of digital assets.
Supported by angel investors like founders of Curve (Michael Egorov), Convex (Winthorpe & C2TP), Frax (Sam Kazemian), Kyber (Loi Luu), Algorand (Steve Kokinos), Yearn (Wavey), Moralis (Ivan on Tech) and others., YieldNest is undoubtedly capable of revolutionizing liquid restaking in DeFI.
The partnership with Origin and incorporation of PrimeETH into ynLSD are game changers in DeFi restaking. Aside from providing secure and optimized returns, the merger also presents competitive yield opportunities for all users. You can learn more about ynLSD and how to maximize the opportunities by visiting the YieldNest website.
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