ETH Liquid Restaking Protocol YieldNest Raises $5.2M in Contribution Round

Industry
veterans-led
liquid
restaking
protocol
YieldNest
is
gearing
up
for
its
first
product
release,
ynETH,
later
this
month.
This
liquid
restaking
token
boosts
and
auto-compounds
ETH
yields
from
a
custom-curated
AVS
basket.

YieldNest
Successfully
Closes
$5.2M
Contribution
Round

YieldNest,
a
promising
new
player
in
the
booming
liquid
restaking
(LRTFi)
market,
is
excited
to
announce
the
successful
closure
of
its
contribution
round,
raising
$5.2
million. 

Contributors
include
round
leader
Faculty
Group,
along
with
venture
capitalists
Backed
VC,
Curve
founder
Michael
Egorov,
Kyber
founder
Loi
Luu,
Convex
co-founders
Winthorpe
&
C2TP,
Proof
Capital,
LVT
Capital,
Contango,
Mozaik
Capital,
Kahuna,
Rana
Capital,
Insignius
Capital,
CKC,
and
angel
investors
&
advisors
from
blue-chip
DeFi
teams
at
Algorand
(Steve
Kokinos),
Curve
(Martin
Krung
&
Nagaking),
Moralis
(Ivan
on
Tech),
Yearn
(Wavey),
Google
(Allen
Day)
&
others.

A
word
from
our
CEO
and
our
lead
contributors:
“We
are
proud
and
happy
to
have
the
early
support
of
our
contributors,
angels,
and
advisors
who
share
our
vision
for
the
future
of
restaking
and
LRTs.
The
oversubscribed
round
is
a
testament
to
the
confidence
in
our
approach.
We
see
restaking
as
more
than
just
a
way
to
earn
extra
yield
on
ETH.
It’s
the
solution
to
Ethereum’s
modular
roadmap,
with
applications
traversing
even
beyond
the
blockchain
stack.
We
are
thrilled
to
contribute
to
this
long-term
vision.”
–
Amadeo
Brands CEO
&
Co-Founder
YieldNest

“The
LRT
market
is
currently
a
points
farming
economy
with
no
real
way
to
get
ahead
through
fundamental
work.
With
the
mainnet
launch
Eigenlayer
and
AVS’
becoming
intrinsically
productive
for
restakers,
the
deck
will
be
reshuffled.
We
believe
that
Amadeo
and
his
team
of
veterans
who
had
various
leading
roles
at
current
DeFi
juggernauts
can
leverage
their
experience
to
lead
the
charge
on
ETH
restaking
products
as
well.”
–
Phil
Zimmerer, Faculty
Group

“We
are
excited
to
support
YieldNest
in
the
fast
growing
restaking
sector.
Amadeo’s
background
and
approach
towards
risk
management
is
a
huge
draw
for
us,
and
we
believe
they
will
play
a
crucial
role
in
bringing
sustainable
growth
to
the
nascent
EigenLayer
ecosystem.”
–
Henry
Ang, Backed
VC

Building
Cutting-Edge
LRT
Products

YieldNest
is
building
a
suite
of
innovative
products
in
the
growing
and
fast-evolving
liquid
staking
landscape
centered
around
EigenLayer’s
$11
billion
shared
security
and
decentralized
trust
markets.
Its
first
upcoming
product,
ynETH,
represents
a
liquid
restaking
token
that
boosts
and
auto-compounds
ETH
yields
via
a
curated
AVS
basket
consisting
of
isolated
AVS
categories.

Chain
Security,
a
top-tier
smart
contract
auditing
firm,
is
currently
auditing
the
protocol.
YieldNest
is
also
building
an
independent
risk
research
and
R&D
team
operated
by LlamaRisk that
will
monitor
and
analyze
AVS
and
Operators,
which
shows
a
serious
long-term
commitment
to
security.

Liquid
restaking
has
emerged
as
a
pivotal
trend
in
the
decentralized
finance
space,
with
YieldNest’s
veteran-packed
team
poised
to
break
new
grounds
and
set
new
standards
in
the
growing
niche.
YieldNest
sees
a
future
with
countless
AVSs
spread
across
numerous
verticals,
making
it
difficult
for
individual
restakers
to
gauge
each
prospect’s
risk/reward
profile.

For
this
reason,
YieldNest
is
building
a
basket
of
set-and-forget
restaking
products
(Curated
AVS
Baskets)
that
abstract
away
operational
complexities
by
packaging
Isolated
AVS
Categories.
These
products
allow
restakers
to
select
from
AVS
baskets
or
isolated
AVS
categories
and
earn
yields
across
specific
industry
verticals,
including
Artificial
Intelligence,
Data
Availability,
Rollups,
Oracles,
and
many
more.

Commenting
on
the
round:

“Closure
of
our
contribution
round
is
not
just
a
milestone
but
a
catalyst
that
propels
us
towards
realizing
the
vision
we
have
crafted
to
push
restaking
to
new
levels.
We’re
grateful
and
energized
to
pursue
this
transformative
journey
with
our
investors
and
partners.”
–
Shawn
Fladager,
Co-Founder
YieldNest

“When
we
spoke
with
Amadeo,
we
knew
Yieldnest
was
offering
something
unique.
The
curated
AVS
basket
pool
and
the
option
to
select
specific
AVS
categories
are
huge
differentiators
compared
to
other
LRT
protocols.
We
are
very
excited
and
look
forward
to
working
with
Amadeo
and
the
Yieldnest
team.”
–
Jonathan
Chee,
Co-Founder
Mozaik
Capital

For
press
inquiries
concerning
YieldNest,
please
contact [email protected].

About
YieldNest:

Led
by
a
team
of
industry
veterans,
YieldNest
aims
to
become
EigenLayer’s top
liquid
restaking
solution,
unlocking
the
next
generation
of
ETH
yields
through
custom-tailored
restaking
strategies.

Disclaimer: The
information
provided
in
this
press
release
is
not
a
solicitation
for
investment,
nor
is
it
intended
as
investment
advice,
financial
advice,
or
trading
advice.
It
is
strongly
recommended
you
practice
due
diligence,
including
consultation
with
a
professional
financial
advisor,
before
investing
in
or
trading
cryptocurrency
and
securities.