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YieldNest and Origin announce merger of primeETH to ynLSD

Press Releases
YieldNest and Origin announce merger of primeETH to ynLSD

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

YieldNest merges PrimeStaked’s primeETH into ynLSD, advancing DeFi with enhanced benefits and liquid management capabilities.

YieldNest announced the merger of PrimeStaked’s Liquid Restaking Token (LRT), primeETH, into YieldNest’s much anticipated ynLSD product. This collaboration marks a significant step forward in the DeFi landscape by providing primeStaked users with YieldNest’s advanced technology to offer unparalleled benefits. This aligns with YieldNest’s vision of becoming the premier liquid management and programmatic yield layer of restaked DeFi assets.

To celebrate, YieldNest is providing exclusive benefits to primeETH users and additional access to YieldNest’s community incentives, which are anticipated to be over 60%. 

PrimeStaked: A journey of creativity & commitment

PrimeStaked, an initiative by Origin Protocol, is always striving to stay at the forefront of the evolving DeFi industry. From its inception, PrimeStaked has been dedicated to providing users with benefits, constantly changing to enhance the user experience. This merger with YieldNest ensures that PrimeStaked users remain on top of the industry, benefiting from enhanced opportunities.

YieldNest: Shaping the future of restaking

YieldNest is renowned for its unique approach and creative technology. It is setting new standards in the industry with the backing of notable angels, including the 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. 

Committed to building a sustainable product designed for long-term success, YieldNest offers unique solutions such as controlled AVS Exposure with YieldNest/External curated LRTs and isolated LRTs that wrap around multiple restaking protocols. YieldNest’s products focus on providing real, secure, and maximum risk-adjusted returns.

YieldNest and Origin announce merger of primeETH to ynLSD - 1

In line with the primeETH merger, YieldNest will be launching its new products:
ynLSD is YieldNest’s unique Liquid Restaking Derivative (LSD) designed to optimize user yields by leveraging other DeFi tokens, like OETH. LSDs allow users to stake their assets while retaining liquidity, meaning they can still use their staked assets in other DeFi activities. YieldNest’s first ynLSD offering will be:

  • ynLSDe – the liquid restaking solution on EigenLayer, designed to unlock the next generation of ETH yields and EigenLayer rewards. Leveraging EigenLayer’s infrastructure to provide users with superior yield opportunities through custom-tailored restaking strategies. 
  • ynLSDs – an unique approach to restaking within the Symbiotic ecosystem. The ynLSDs token utilizes Symbiotic’s infrastructure to provide users with access to outstanding yield and Symbiotic rewards opportunities. 

ynUSDs is designed to deliver competitive yields and Symbiotic rewards on USD-denominated assets with risk-adjusted returns through innovative strategies tailored to the unique characteristics of stablecoins. 

YieldNest aims to fully transition to a DAO and sub-DAO structure for community decision-making. The goal is to create a self-sustaining, decentralized protocol that can operate independently of the core team. The governance structure features chambers, each managed by elected leaders based on staked YND tokens, with each chamber voting on specific categories of issues. This transition emphasizes the importance of community-aligned token distribution, gradually transferring power to the community, making YieldNest a fully decentralized liquid restaking protocol that can operate, maintain, and grow itself from within.

YieldNest’s vision is expansive, aiming to shape the future of restaking by delivering comprehensive insights into all associated risks. With its independent risk team and audits for top-tier auditors, providing more security and stability for its users. This merger will introduce primeETH users to a new network of opportunities, enhancing their ecosystem and offering additional yield and rewards through protocols like EigenLayer and future partners like Symbiotic.

Combining strengths for a promising future

This merger is more than a strategic alliance; it is a logical next step in the journey of both YieldNest and PrimeStaked. 

PrimeStaked users will now have access to YieldNest’s superior technology and unique products, ensuring they remain at the cutting edge of the DeFi industry. This collaboration is set to create a more robust, secure, and rewarding environment for all users, paving the way for a brighter future.

To celebrate and reward all loyal primeETH adopters who migrate to YieldNest, primeETH users receive exclusive benefits, which are only available for a limited time:

  • PrimeStaked YieldNest Airdrop
  • YieldNest Seeds Bonus (+5% bonus for primeETH users)
  • Receive Pioneer NFT + 15% Permanent Boost (‍Migrated 5 OETH or more)
  • Receive AVS/Network Yields & Airdrops
  • And many others…

For all the migrated primeETH users and YieldNest’s native users, YieldNest anticipates that the total airdrop allocation will be no less than 15% of the total supply of YND and aims to increase the amount allocated to airdrops contingent upon TVL increasing over time. The target is to be one of the most generous airdrops to hit the market in the restaking vertical, with community incentives anticipated to be over 60%.

About YieldNest

Led by industry veterans, YieldNest aims to be the top liquid restaking solution, unlocking next-gen strategies and establishing itself as the leading protocol for liquid restaked assets.

About PrimeStaked

Prime Staked ETH (primeETH) is a liquid restaked token (LRT) by Origin, that provides liquidity for assets that have been deposited into EigenLayer.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.