Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
Title Understanding KernelDAO, the $2Billion Restaking Giant
Recorded: April 15, 2025 Duration: 0:55:40Space Recording
Short Summary
KernelDAO has launched its liquid staking platform, Kelp, and the Kernel token is now available on KuCoin, contributing to a total value locked of 1.8 billion. With strong partnerships and a focus on restaking trends, KernelDAO is set to enhance user rewards and drive growth in the DeFi space.
Full Transcription
Music Thank you. Music Thank you. Music Thank you. Thank you. Music Thank you. Music Thank you. Thank you. Okay. Okay. Hi. Hi, everyone. Today we are having Kernel with us and to present, well,
Gon Multichange. Are you doxxed or should I stick to only the username?
Yes, Gon or Antonio. Everything is fine.
Okay, Antonio. Welcome, Antonio. Great.
So first, welcome. Thanks for coming here, for joining us today.
Thanks for everyone who tuned in.
So today, as I mentioned, Kernel, we're going to go through, I guess,
first maybe a short introduction about yourself antonio
if you don't mind what you do with the project and how you got there in touch with them and into
crypto why not then afterwards we will dig a bit uh well first get another view of the project
itself what does kernel do where does it fit in in our ecosystem especially today uh then we will dig a bit deeper looking at different
aspects maybe uh obviously of course the token but not only the vision uh what you have in stock
for the future etc uh and then afterwards we'll pick up some questions uh from the community if
you don't mind so some q a uh guys as, you have your live chat here. You can comment on
this thread and we will be able to pick up some questions with Antonio at the end of this session.
Well, this is for you to get answers to questions you might have about the project
specifically. And this also increases your chances to be selected as winners of the
giveaway that we're organizing for this session, as always. It doesn't assure you that you'll be
selected, but it increases your chances largely. So what do you think about the program, Antonio?
Should we move ahead?
Hello, Dorian. You can hear me?
Yep.
Yep, I think I lost the spear roll for a minute.
Awesome, so I'll start with an intro?
Yep, please go ahead.
Awesome.
Yes, so my name is Antonio,
been in crypto since 2017,
but in particular, been in DeFi since 2020,
since pretty much the DeFi summer of 2020 started.
And in particular, working on the...
I think I lost you.
I don't know if that's the case for everyone.
Guys, do you have also problems hearing Antonio at this moment?
Please do not hesitate to mention it with some kind of emoji or whatever.
Well, at least on my end, Antonio,
I lost you completely, so the mic is not out.
Okay, so we lost Antonio altogether.
Okay, we're gonna fix this technical issue as soon
as possible and we'll be right back. Yeah, I think maybe now you can hear me? Yep. Okay, good. I'm so
sorry there is some technical issue. Yeah, so I was saying, started in crypto in 2017, in DeFi in 2020, and since 2021, been building in liquid staking.
And then, as we will see, liquid restaking, and restaking in general is just like another twist,
upping up a notch in terms of the rewards that you can get with staking.
So we started building Kelp in 2023.
It went mainnet at the end of 2023.
So it has been on mainnet already for 16 months.
And let me tell you a little bit more about KernelDAO.
So KernelDAO is a company that's a little bit special because we have three very different products inside Kernel, right?
And everything, the whole company, is accruing value to one single token, which is the Kernel token.
It's the one we had just TGed.
It's the one that's available on KuCoin.
And it's the main reason why we're having this AMA, right?
But the products of Kernel are actually three. One is called KELP. It's a liquid reason why we're having this AMA, right? But the products of kernel are actually three.
One is called Kelp.
It's a liquid risk-taking token.
This is called LRT.
And this liquid risk-taking token is the second biggest LRT
on top of vegan layer.
We have more than $1.5 billion.
It's available on all major DeFi protocols,
more than 75 protocols across 10 different chains.
And it is a smashing success
because it has more than 300,000 risk takers.
Now, other than that, what we have,
what we needed to deploy later on was some vaults,
some one-click vaults for people that do not have the time
to either be farming a lot of airdrops at the same time
or to be trying to look for the highest yield possible, right?
A lot of people will tell us, look, you have such a cool project,
but I really don't have the time, you know,
to be spending hours and hours checking, you know, to be spending hours and hours
checking, you know, which new farm, which new, you know, because it was a time where also a lot
of L2s were popping up, you know, like Circuit, Last, Linea, you know, and Scroll, and all of them
would offer you an airdrop, right? So you could farm up to five or six airdrops at the same time,
but a lot of people would actually not have the time to do so.
And this is why we created Gain, which is a series of vaults that people can use to just farm things on one click.
And you could farm, now you can also farm projects like movement, like beta chaining, like attack, which is the EVM chain of Tone, right?
So a lot of different cool stuff that we did with Vaults, and we also have 150 million
TBL there. And then finally, and last but not least, we launched Kernel. So Kernel is a risk-taking platform on top of BNB Chain.
And so there you can deploy BTC or deploy BNB.
More assets will come soon.
And you are able to provide economic security to projects
that are building on top of BNB Chain and on top of our platform.
And so this is really important because BNB Chain,
you know, it is now regaining a lot of power
that they used to have in 2021.
And for them to have a risk-taking platform
is the perfect way to be attracting projects
in the realm of artificial intelligence,
in the realm of gaming,
in the realm of decentralized articles, right? realm of gaming, in the realm of decentralized oracles, right?
And so we are a very useful tool for them to keep growing their ecosystem.
And so there is no wonder that in just four months after we launched,
we have almost 700 million TVL, and we are the third biggest app by TVL, right?
So this speaks a little bit about the meteoric growth
that the company had.
And in total, we have a 1.8 billion TVL
and we are a top 24 DeFi project, right?
So I hope this is a good overview.
I know it's a bit complicated
because the company has so many products,
but what's important for users to understand,
and I think we're going to talk about this during the call,
is that everything is governed
and everything accrues value to one single token.
Over to you, Dorian.
Well, actually, that's already a good sign.
One would argue that if there is no need for a token
because your protocol doesn't require,
and either a token because your protocol doesn't require and uh it's like uh it's already
either a token is already there or you're earning value another way well you should not fight just
for a token for the sake of the token you see what i mean so this is already one of the aspects uh
that is uh interesting especially in defy i guess where um we have had the projects who rely mostly on the
token creation and less on the utility and features that they bring to users so that's uh
that's interesting on your end the third aspect i have just a personal question before we dive in
together to get more into details but you mentioned it being a risk-taking protocol platform
why is it restaking in this case since you're talking about staking actually bnb i mean bringing
bnb and btc to to secure the the environment to secure the the building environment for projects?
Yes.
So the team that built this project had already been building liquid staking projects for
a while.
But as I was saying, risk-taking is like another turn of events, right?
Because you are allowing people not only to secure one particular platform, let's say Ethereum, or let's say BNB chain,
but you are also able to tell them, hey, recommit your assets to other projects that also want economic security,
but don't necessarily want to spin up a new chain. So if you pledge again your assets, you are not only staking them on
BNB chain or on Ethereum, but you are re-staking them. So in the case of Kelp, when you deposit
your money in Kelp, it's actually being re-staked in Egan Layer. And so with that, it gives power to more
than 70 projects building on Egan Layer. And when you pledge your assets in kernel, you are not only
securing the BNB chain, you are also pledging your economic security to more than 25 projects,
because we have 25 projects so far building on kernel. Now, this is only
after four months, because Egan Layer has been ongoing for a year and a half, kernel
has been ongoing only for four months. So that's important for people to understand,
to put things in context, right? But so when you are pledging that economic security to
other projects, those projects in return,
they are going to give you rewards. Now, those rewards can come in the form of
risk-taking rewards. They could give you more BNB. They could give you a stable coin or whatever
asset they are earning the revenue on. Or they could give you an airdrop or they could give you
points, right? It depends at what
stage of maturity the project is, right? Some projects, you know, they still haven't even done
the TGE. Some projects have already. And so it's also interesting because we, like kernel risk
takers, already are going to receive two airdrops at least. At least that's communicated, right? I mean, we have other partnerships, but not that I can make public yet.
But projects do reward kernel risk takers also on top of just the staking rewards you receive, right?
And I wanted to say one thing.
So I said 25 projects so far in four months.
It's a very big number.
Egan Ledger has around three times that, 75.
But it just shows you the product market fit of risk-taking, right?
You really have a lot of projects
that will use that economic security as a service,
will not want to go all the effort to create their own chain,
to have to have at least 20 validators around the globe,
et cetera, et cetera.
So the easy way for them
is to go to platforms like Kernel and Ingen Layer. And this is the reason why risk-taking
has so much appeal and it's such a good value proposition. I mean, because projects,
builders love it and use it. Yep, absolutely. And as you mentioned,
yep absolutely and as you mentioned we have to keep in mind that even in the case of uh
aiden uh egalian who was not i mean you mentioned they have been there for much longer than you but
still it's not so long considering even the crypto ecosystem altogether and there is definitely a
traction regarding restaking it's one of the narratives in defy
during this cycle that's for sure so in your case growth has been i guess you would call it
exponential in in just four months right but uh let's see where where this will
where this is heading because actually if this is for a month, probably by the end of the year, you'll have great news to announce this
and much more invested, much more projects will have chosen your platform
as the way to grow.
So, well, one aspect maybe that we should mention before we dig deeper,
because we do not know.
Maybe among our audience,
people are unfamiliar with what we're talking right now,
like restaking especially.
Could you explain basically like restaking what it is
and how it changes from what people know
and generally what they know is traditional staking,
which is like i come with my
eep i i give it to a validator and thanks to that transactions are secured on the proof of stake
chain for example and i get rewards so how does restaking change from that in very briefly
restaking change from that very briefly?
Yeah, so in the traditional staking,
you are only going to be securing one chain.
So for example, if you stake your ease,
you are going to be securing Ethereum.
Ethereum already has around $100 billion of security, right?
Ethereum is really very, very, very secure.
The problem is that as soon as you start going down
in importance of chains,
the economic security drops a lot.
So, for example, even a top 10 like Polygon,
it's already 100 times less secure than Ethereum.
And so when you go to even smaller chains,
coming from, you know, because even
Polygon, I mean, they raised hundreds of millions of dollars, you know, and they still have 100
times less security than Ethereum. So what happens is that economic security is very difficult to get
because you need to give staking rewards to people. And, you know, it normally creates a
negative price, a negative price effect, and you
need to give even more rewards. And so it's a vicious circle. And on top of that, you need a
lot of money to code your own blockchain, to maintain your blockchain explorer, to have
more than 20, at least more than 20 nodes across the globe. You need to pay them. So what happens
is that there is so much complexity
that all these projects that are popping up now,
they prefer to simply be outsourcing that side,
that economic security.
They say, hey, I need economic security
for my project to run
because people are not going to put money on my chain
or they are not going to trust,
for example, an oracle, right?
For an oracle to be used by protocols, the oracle need to have some skin in the game.
The oracle, they need to suffer something.
They need to suffer some penalty if they are inputting a wrong value that's impacting a
lot of users, right?
Imagine an oracle that's giving the wrong price of ETH or the wrong price of Bitcoin, no?
Or on these betting platforms like Polymarket,
imagine the Oracle is saying,
no, Trump didn't win the election, it was Biden, you know?
Projects cannot function
if there is not a good balance of rewards,
if you do things right,
and penalties if you do things wrong.
That's the definition of a blockchain in general.
And so projects now, thanks to risk-taking, have a way to keep that balance between penalties and rewards, but do that in a way that doesn't take them too much time, doesn't take them
too much effort.
The only thing they need to do is to reward risk-takers.
So when you become risk taker on a platform like
Kernel or on Kelp, you are getting not only the Ethereum or the BNB rewards, those are the big
chains with a lot of economic security, but you are also getting rewards from all these little
chains and little projects that are piggybacking on their economic security.
Perfect. Nice overview. Thanks. I think that was a necessary introduction to the topic, since this is the base of the ecosystem that you are actually trying to create.
You actually mentioned the three, Kern kernel, kelp, and gain.
So gain is the...
Could you remind us which is which, actually?
Yes, so kelp is the LRT, liquid risk-taking token,
which is built on top of Ethereum and Egan layer.
And so you can access it not only on Ethereum Mainnet,
you can access it also more than 10 L2s,
like Arbitrum, Optimism, Linea, right?
So people can still farm a lot of different airdrops.
Thanks to Kelp.
Gain is the set of vaults where you can just like,
this is if you really don't have time,
you know, in one click,
you could be either farming six airdrops at the same time,
or you can be earning around 15% APY on your risk.
And this is because we will do lending loops for you, and we will move the money programmatically across platforms that are giving you the best bank for your buck.
Right?
So, Kelp is the LRT on top of Egan Layer and Ethereum.
Gain is a set of vaults, but it's also built on Egan Layer and Ethereum.
And then Kernel is built on BNB chain, right?
So Kernel, you don't deposit ETH. You would deposit either BTC or BNB.
And that also allows you to earn a lot of different airdrops because
you can deposit, for example, Solve BTC or Asterus BNB, right? So you are farming,
you can be farming Binance Launchpools, you could be farming Aster, you could be farming
Solve, you could be farming Babylon, even Babylon, because there are some assets that are also supporting Babylon.
Right?
So a host of different networks you can get.
And most importantly, that exposure, as I say, to 25 different projects.
Okay, perfect.
Well, then maybe it's time to take a closer look at the kernel token,
specifically, since it serves multiple roles in the three platforms that you have created within your ecosystem.
Could you tell us a bit more about the utility for users, maybe the distribution model, how it started, how it's going, and how you incentivize the community to participate to all the three projects thanks to it.
Yes, of course. So the token is a very important milestone for us because we didn't want to launch a token
when we were just starting, right? Or some projects like to launch before they even have their chain or their product out.
As I say, we had a peak of $2 billion of TVL.
Now, because the prices are a little bit down,
we're at 1.8.
But what's important is that in terms of crypto prices,
like our TVL has always keep growing, right?
And so all these projects are generating around $10 million of revenue at the
moment. And so what the token is going to be for? Number one, of course, governance. So token holders
are going to decide the future of the project. Number two, it's going to be able to be restaked
in kernel. So by being restaked in kernel, you are providing
economic security to kernel, to those 25 projects. And that's even going to be earning you season two
and season three of the airdrop. Because it's interesting to mention that 10% of our airdrop
was dedicated, 10% of our token supply was dedicated for airdrops, but that airdrop was just the first 10% and season one.
We have another 10% dedicated for season two and season three.
So you can still farm that extra 10% by depositing TVL on the platform.
And how you can do that?
Well, for example, you can buy Kernel in KuCoin and you can restake it.
That would be a way.
You are also in the future, if governance approves, you can, for example, be getting a revenue share.
So there can be buybacks.
There can be buyback and burn.
There can be buyback and redistribution.
That would be a little bit up to the community to decide.
But definitely, that's what the governance is for.
Until now, it has been a team of 30 people deciding what to do.
Now, I can tell you that there is 1.9 million people holding the token.
1.9.
So it makes us one of the most decentralized DAOs from the beginning.
And so it's very exciting that now it will be this amount of people that decide where is the project going to be, right?
And what are we going to do with the money?
What are we going to focus on next?
You know, we have three products.
Do we continue growing them?
Do people want another product?
For example, we are getting contacted by a lot of chains that also would like to have a risk-taking platform on their chain.
They see that what Binance Chain did was very good.
Because you get a lot of builders to build on your platform
if you have a risk-taking platform.
So if you're an arbitrum, if you're optimism, for example, to companies that contacted us,
and you want your builders to build on your chain, you need to give them facilities to build
and get economic security without the need to be very difficult
or to pay a lot of money.
How do you do that?
You get a risk-taking platform.
But if there is a very strong risk-taking platform in Ethereum,
called Egan-Ledger,
and there is a very strong platform in the NB chain called Kernel,
maybe the builders will go there, right?
Maybe you will not be able to retain the builders.
And that's something that chains are cognizant about,
and maybe that will
signify that Kernel goes multi-chain somewhere in 2025, like my name says.
Is this an announcement?
It's not an announcement, it's part of a roadmap, but it will really depend on where the other
milestones of the company are. Because, for example, in kernel,
we still need to create slashing, for example, right?
And what is really, really important for us,
our priority number one,
is that from current 25 projects,
we grow to 50, to 70, to 100, right?
Because the more projects building on kernel,
that's going to mean the more rewards risk takers are going to receive,
and that's going to attract more TBL.
So our priority number one, of course, is to continue growing in terms of TBL.
And for that, what you need is more and more projects.
But we are in discussion with some other chains.
Yes.
Okay.
Yes.
In the end, you are allowing projects to build on the shoulders of giants, so to speak.
Like not to reinvent the wheel at all time which is
something uh very costly and very time consuming and obviously everyone wants to avoid that so
uh the the interesting thing uh also is that um you mentioned you want to grow tvl etc it's true
that you are not alone in the game so there is competition for the risk-taking platform.
I guess you are still looking at what your main competitors are doing
and also not only growing TVL,
but each project that you integrate your platform to risk-taking platform
who happens to build there is a new showcase for you to then, you know,
bring to the market and say, well, this is what can be obtained.
This is what can be achieved with kernel, with launching on kernel.
So definitely a good thing to focus on first and even in parallel,
I guess, depending on your resources, as you go along with other chains,
you'll be restating platforms on other chains.
So then on one of the other aspects is, I guess you didn't do that all alone.
I mean, even though the kernel team is probably very exceptional,
I guess you didn't do that all alone at all times.
So could you tell us more about the partnerships that you have?
What kinds of collaborations you built over time?
I guess there is strong connection with the BNB team from what I understand.
But there is obviously more to it.
And how did it help you to build overall all of these products?
build overall all of these products.
Yes.
So actually, it's one of the reasons I believe of our success, you know, to be the second
biggest LRT in Eagle Layer, is that we are integrated everywhere, right?
It's very difficult for you to see an LRT that's in more than 75 protocols like we are.
We are also in the five biggest lending protocols.
So this is like Aave, Morpho, Compound, Spark, right?
We are Euler.
We're everywhere.
And so this is good because people cannot just risk-take
and risk-taking rewards on top of their Ethereum-staking rewards,
but they can also earn a lot of different rewards on top.
They can do borrowing and lending loops. They can use it a lot of different rewards on top. They can do borrowing
and lending loops, they can use it as a collateral to make a loan, they can do a lot of stuff.
Especially if you are DeFi native, if you are very cognizant about DeFi,
there are many times where you can easily earn 30-40% on your ETH. And at the moment,
pretty much the best you can do is to earn around 15%. That's what we do also with the Gain Vault.
We automated it for you if you don't want to do it.
But a lot of people, if they're good, they prefer to do it themselves, right?
But it's one of the recipes for success,
to be integrated with so many DeFi protocols.
And definitely this is due to the deep understanding of DeFi
and the good connections the company had
before creating Kelp and Kernel, right?
And so then what happened,
and I just say a little bit chronologically,
is that BNB Chain wanted to have that risk-taking platform
and then it chose Kelp to be the team that built this.
And this is how the company became a company
that actually has several products.
And so in Kernel also, it's remarkable to say
that we also have very good partnership
with the rest of BNB chain teams.
And this also allowed us to grow very quickly
to 60,000 risk takers,
allowed us to grow our TVL very quickly to 700 million.
And this means already we are the third biggest BNB chain project, right?
Which to me is incredible, that in just four months, a product came on an ecosystem like
BNB chain, which is already four or five years old, and was able to become number three in
years old and was able to become number three in terms of TBL.
terms of TVL, right?
But I think this is just the beginning because Kernel is very composable with the rest of
projects in BNB chain.
So whether it's a liquid staking project, whether it's a stable coin, you have a place
to be in Kernel because you are going to be able to provide security with that asset.
So we have a lot of integrations in the pipeline.
As I said before, currently we only accept BTC and BNB,
but definitely there are, I mean, in the roadmap,
there is the opportunity to open the door to any kind of asset.
For example, stable coins, right?
Stable coins that give you yield, no, like USDX.
And a lot of different
projects that are knocking in our doors and want to have their token listed.
Okay. Yes, quite clear. And yeah, I guess the more you integrate, the more opportunity to
secure TVL. That's also one of the aspects. Well, you mentioned that the community will be driving the growth from now on with the governance mechanism that has started.
By the way, side note, will it be a classic they vote thanks to ownership of the token or is it a bit different in your case?
Sorry, Dorian, I didn't get the question. Can you repeat?
Sorry, Dorian, I didn't get the question. Can you repeat?
So about the governance model, you mentioned that there would be governance components to the utility of the kernel token.
Will it be a classic ownership grant to voting rights or something a bit different in your case?
Yes, so I mean, one token is one vote. So if somebody holds a million tokens, then he has a million power. And if somebody owns 100, yeah. And so the token doesn't have any V, like, there is no gimmick, you could just be holding kernel, but why not you restake it in the kernel platform?
Yes. So, I mean, one token is one vote.
So you keep all your governance, you keep all the upside exposure, but you are also helping the kernel platform and you get rewarded with an extra 10% airdrop and with all the restaking rewards, right?
So the cool thing is that it's a token that has a lot of utility, right?
It's not just hold it and appreciates.
You can restake, and by restaking, you earn so much from kernel itself
and from the ecosystem of 25 projects.
Lots of features.
One token is better than the reverse.
And so then this will be something that will be important,
an important component, community-driven development,
I would say, in the near future
and maybe not so near future as well.
So what kind of things do you anticipate in the DeFi space?
Like maybe new trends or narrative
or even feature services
that you would be anticipating at Kernel?
Since I guess with your experience in the space, you have seen many things already happening
and you can derive trends from it.
Or maybe you're seeing something from your community and what they want
that you think will drive the market in a specific way.
Would you have any insight about this?
Yes, sure.
So what we see is that definitely the LRT...
I'm going to talk again by product, right?
And what's a little bit what we have in the roadmap
because we are laser focused on keep growing our TVL,
you know, have at least 3 billion TVL,
and why not be on the top 10 of DeFi protocols, right?
What we see is that definitely the LRTs have come here to stay.
EtherFi, Kelp have already done their airdrop,
and they still keep accruing TVL, right?
So people now understand that LRT is not a play for an airdrop. It's a superior
way to hold these because you are not only earning staking rewards, you are also earning
staking rewards, right? So on the LRT side, we are just going to continue getting integrated
with more and more projects, and we are going to keep increasing the TBL because more and more projects will start giving us rewards
on top of the game later.
We see a lot of demand for more game vaults.
A lot of people like the idea of,
hey, I just deposit here my stable coins.
I just deposit here my Bitcoin.
I just deposit here my ETH and you help me farm it.
I don't have to spend any time.
And so we will have some vaults for stable coin so we will have some vaults for Stablecoin and we will have some vaults for BTC.
It's kind of after copy trading, now we have copy farming coming on.
Yes.
I mean, in a way, I sort of understand, right?
Because whether you're trying to farm different airdrops or you're trying to get some yield,
it gets complicated after a certain time. And I think in the end,
what automation can do better is that,
for example, you have different lending markets, right?
I mean, it's about arbitration, right?
You can be very good at farming,
but unless you are your whole day in front of the PC,
the yield could go very low on certain platform
and very high on certain platform.
And if you're working, you're not going to just go
and take your money from one platform
and put it in the other, right?
Or some great opportunity happens in optimism, you know,
and now you have to take your assets from Ethereum mainnet,
you have to bridge to optimism.
I mean, for a retail user to do that is very time consuming.
But if a vault that has, you know,
like our yield vault that has 90 million
dollars right if you have 90 million then it makes sense you know you're monitoring and you're
pulling you know 20 or 30 million bridging it and maybe now compound in optimism is giving you way
more money than it's giving you money right, right? So there is a strong reasoning behind,
hey, you know, let the vault do this, you know,
because it makes sense to do it with $30 million.
It doesn't make sense to do it with $3,000, right?
So I think LRT is going to keep increasing TBL.
It's going to be increasing more and more importance.
Same is going to be happening with the Gain Vaults.
And for Kernel, yeah, we're focused on more and more projects
building on top of it,
integrating with more and more protocols
within the BNB chain ecosystem.
And so this is going to be important, right?
Because just on the pipeline of assets
that are waiting to be integrated,
we could easily reach $1 billion
on TVL, right?
Because I'm going to put you an example, USDX, right?
This is like an Athena-like project where they have a delta-neutral strategy and you
have a stablecoin that's turning you anywhere from 5% to 20%.
Okay, you know, this is fantastic.
But now you could also be taking that and just put it on kernel.
You know, you're still earning exactly the same yield from that project.
But on top of that, that asset is securing economically 25 projects, right?
So you don't lose anything.
But by depositing in kernel, you're helping 25 other projects, right? So you don't lose anything, but by depositing in kernel, you're helping 25
other projects, right? So that's the beauty of risk-taking, that it's very composable with a lot
of projects. By depositing in kernel, you don't lose anything. You're just putting it to be used
by 25 projects if they want. And in turn, you are going to receive potentially 25 different
restaking rewards, airdrops, points, etc. So that is a little bit the potential in terms of TBL
that restaking has. So currently, as I say, 1.8 billion in TBL, but I'm very excited of how this number is going to grow during 2025.
Okay, nice.
Well, I think we had a nice tour of the potential and the advantages that risk-taking has overall,
and especially through Kernel at this moment.
Would you like to come with me through the live chat
and select maybe a couple of questions that you would like to answer
yes absolutely so i should just check the questions that people may below the ama right
yep some of them will be automated many of them will be automated actually but
very still draining genuine questions and some of them may still be quite interesting
to the whole audience even though automated.
Yeah, maybe I'll just like I'll pin them at the top of the AMA so you also know which ones I'm taking. um I'm choosing one in here. So this guy is asking, what is the exact difference between EganLayer, EtherFi, and then Kernel?
So it's important to understand, EganLayer is a risk-taking platform.
So EganLayer is like Kernel, just that EganLayer is on Ethereum and Kernel is on BNB Chain.
EtherPhi is just an LRT, Liquid Restake Token, and EtherPhi is built on top of Egan Layer.
Kelp is a competitor of EtherPhi.
So this is the thing that people maybe don't understand.
Kernel is both like EtherPfi and egan layer combined our etherfi arm
is called kelp and our egan layer arm is called kernel and everything is under one umbrella right
so it's like you could own egan token and etherfi token or you can just own kernel token because
it's giving you exposure both to the lRT side and to the risk taking side.
Right.
So it's a bet.
So by getting the Kernel token, you're betting that Kernel platform will go up, but also Egan layer platform will go up.
Because if Egan layer goes up, it benefits Kelp.
right so interesting there maybe to mention you know this is like when you buy a stock of a company
Right.
and the company actually has many different uh branches no like a big conglomerate like siemens
for example no or general election one of the companies go up you go up with it as the
conglomerate or you choose to take a more risky thing
and go for the
underlying companies
themselves. So in your case,
you're the conglomerate.
That's correct, yes.
So next question
is by Olalex.
So here she's saying
how to unstake our
locked BNB.
Right.
So when you stake, when you restake in kernel, your assets are liquid.
I mean, you can unstake and it's only going to take the time that the BNB.
We don't put any additional lockup time.
Right.
So it's whatever the blockchain needs.
So I'm just checking right now what's the time of unstaking in BNB chain.
I think sometimes it's two or three days.
Sometimes it can be up to seven.
Let me check it for you.
Yep.
It's whatever time it takes for Okay, quite straightforward
But it's a good question, right?
If you restake your assets in kernel, it's not like it's gonna take you three weeks to...
Most of them actually we already answered throughout the discussion. Yeah, sorry, seven day period.
Yeah, but seven day period I'm directly checking on the BNB chain
stake in page, right? So you would be subject to that.
That's for VNB, right?
If you deposit BTC, for example,
because BTC is actually not staked in VNB chain,
doesn't take any extra time.
Let me see if I select any other.
well actually i do have one i would like to answer to select and i would like to transfer
but it's more like taking us back to the inspiration so the question is actually what
inspired uh inspired kernel dao's creation how does it stand out from other risk-taking platforms
in DeFi ecosystem?
I would focus more on
what inspired the creation
because we didn't have by then,
I guess,
neither the DeFi ecosystem
we have now,
nor all these features,
components, etc.
So there was a vision back then, but I guess you
had to adapt, you had to implement and also add on top things that were not there to,
things that were not supposed to be developed at the beginning, right? So even the fact that you
have these three products built together is already a testimony testimony to that so what was the initial vision
behind it yeah so actually actually it's uh it's nice you ask for it because
the way the company was born is um we we first heard about digging layer okay right when it was
just uh you know like a academic paper paper, you know, because again,
later it's very academic.
And we completely and very fast understood this needs a liquid restake token.
You know, you can take the idea of an LST, like Lido, like Stader,
and you can build the same thing, but on top of restaking.
So people can earn the staking rewards and the restaking rewards,
but their assets are not locked, right?
Because today when you go to EganLayer,
if you just deposit your money there, your assets are locked.
But if you deposit them on kernel,
you have access to 75 different DeFi protocols, right?
LRTs today make 75% of Oligan Layer deposits. So our initial
vision that LRTs were going to be a very successful project and a very good product market fit
was good, you know, was a good hunch. And that is why we started building the LRT. In fact, Kelp was the first company ever releasing an LRT white paper, you know.
So if there is somebody who invented LRTs, so to speak, that was Kelp, right?
And that was how the idea was born.
And then, as I said, you know, because we were second biggest LRT, we were pretty much everywhere, very good understanding of DeFi.
That's how we got connected to BNB Chain and BNB Chain told us,
hey, we really want to have a risk-taking platform here.
Do you feel up to the challenge to build it?
And that's how the kernel side was born.
Obviously, you were.
Yes, indeed.
Really good story really nice like inspirational story so actually
at the beginning of it was a recombination of two elements that were like laying there
but not not together and thinking of how to recombinate it in a much more efficient way and yeah like always
bringing more liquidity actually to two projects who might need it and once again giving the
opportunity to build to as many projects as possible also in the meantime okay correct
quite nice so I think that's all on my end.
The other questions we already mostly answered.
If there is a last one you would like to pick,
or if there is one point that you would like to put the emphasis on
before we wrap it up,
something that you think we may have overlooked throughout the session,
now is the time to do it.
Sure.
So no, I think my last words would be like,
we're building something very serious here. I think we have a lot of avenues for growth, both in Kelp, in Gain and in Kernel. I'd love that, you know, in your centralized exchange or whatever you withdraw it,
you please restake it on kernel,
you know, because that economic security
is really needed by so many projects.
It's 25 now,
but I'm pretty sure the number
is going to be much higher
by half year or by the end of the year.
And you also stand to get a lot of,
you know, ownership of these small companies
and of kernel
because there are a lot of airdrops to come in 2025.
So if you overall like the idea of restaking,
if you really think restaking is going to keep getting more popular,
and there are 150 projects in total that are using it, so why not?
You have a very good way to have a diversified exposure
to both Higgenl kernel with the kernel token.
Thank you, Antonio.
And if you're sick and tired like me
to miss out on all the interesting airdrops out there,
well, there is also that.
So thanks for joining again.
I hope you all guys could take something from it.
If you are interested to get to know more,
you have the official accounts of both Kelp and Kelno
with us here in the space.
Please do not hesitate.
Get more information straight there from the source.
Access their official website.
Do not try to look for it elsewhere
and take the risk to find some kind of copycats
or phishing links or whatever. You have the official ones here it elsewhere and take the risk to find some kind of copycats or
phishing links or whatever you have the official ones here so please take the opportunity and once
again thanks again um antonio it was very for thorough and i hope we got most of the information
out there got the most of you interested and please be there for the token launch very very soon on kucoin thanks again for joining
and have a nice day ciao see you
