Introducing YieldNest – The Protocol Revolutionizing the Liquid Restaking Landscape

After securing $5.2 million in an initial seed round, as reported on X, YieldNest, a next-gen liquid restaking protocol has announced the launch of ynETH on mainnet. A product of hard work and dedication, YieldNest marks a new chapter in its quest to guarantee a seamless restaking experience. 

Speaking about this launch via a recent press release, Amadeo Brands—CEO of YieldNest—describes the milestone as one that reflects, in entirety, the resoluteness and vision of the project to revolutionize the restaking landscape. 

“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,” Amadeo Brands reveals. 

Revolutionizing the Liquid Restaking Landscape

YieldNest aims to promote a seamless and genuinely secure user experience while delivering sustainable and consistent yields. It adopts a straightforward restaking process where users receive ynETH, a native liquid restaking token, to earn impressive rewards. YieldNest offers ETH holders an easy option to restake their holdings into EigenLayer and earn rewards. 

YieldNest guarantees high security and risk management. It was recently audited by ChainSecurity and Zokyo, the leading crypto security firms. Furthermore, they’ve launched the YieldNest Risk Team, an independent research group run by LlamaRisk. The Risk Team comprises specialists and experts with ample on-site experience in comprehensive risk analysis. They conduct extensive, direct, and indirect risks for liquid restaking, helping YieldNest mitigate prevalent industry challenges and vet AVSs (Actively Validated Services). 

Additionally, YieldNest is backed by prestigious VCs such as Lead Contributor Facility Group and notable experts like Sam Kazemian, Loi Luu, Michael Egorov, etc. 

YieldNest’s Special Launch Programs

To celebrate the launch on mainnet, YieldNest introduces the Seeds Program, a program designed to reward active engagement from community members. In the crypto industry, early adopters play a pivotal role in a project’s growth, the YieldNest team has created this program to reward them for sticking with the project. Users can earn Seeds by staking ETH on YieldNest, and as the protocol grows, the team hopes to incorporate more ways. 

Users can currently receive a 5x multiplier on their Seeds for seven days. However, this campaign will end on Tuesday, May 28, 2024, at 11:59 PM (UTC). 

YieldNest also launched the Pioneer Program which will reward users who restake a minimum of 5 ETH. They will earn exclusive eligibility to mint a limited NFT that will offer a whopping 15% permanent Seed boost. This campaign will end on Tuesday, May 28, 2024, at 11:59 PM (UTC). 

How to Restake ETH on YieldNest

YieldNest has made restaking ETH on the mainnet as straightforward as possible. Here is a step-by-step guide: 

• Step 1: Visit the YieldNest website, click on the web app, and connect your Web3 wallet to the Ethereum mainnet.

• Step 2: Select ynETH. Click the “Restake” tab under the section and continue.

• Step 3: Select the amount of ETH you wish to restake. The screen will display the corresponding amount of ynETH you will receive.

• Step 4: Confirm the amount you wish to stake and click on the “Restake” button.

• Step 5: Confirm the transaction with your Web3 wallet. Once that is done, you have successfully received ynETH.

Conclusion

Created and led by a group of specialists and experts in the DeFi industry, YieldNest aims to become the top liquid restaking solution. The mainnet launch is proof of the team’s hard work and commitment to delivering a sustainable, secure, low-risk, and user-friendly restaking protocol where users can earn multiple rewards. The introduction of Seed and Pioneer Programs further solidifies YieldNest’s firm resolve to adequately yet sustainably reward and recognize early adopters for their trust and confidence in the project.