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YieldNest, an ETH Liquid Restaking Protocol Raises $5.2M in Contribution Round lead by Faculty Group

ETH Liquid Restaking Protocol

May 22, 2024


Following a successful initial seed round that raised $5.2 million, YieldNest, an advanced liquid restaking protocol, has declared the mainnet launch of ynETH. YieldNest, a testament to relentless effort and commitment, signifies a fresh phase in its mission to ensure a smooth restaking experience.


Project

Latest Raise

Latest Raise Date

Stage

Total Raise

Lead Investor

Category

YieldNest

$5.2M

May 22, 2024

Seed

$5.2M

Faculty Group

DeFi

In a recent press release discussing this launch, Amadeo Brands, the CEO of YieldNest, characterizes this achievement as a complete representation of the project’s determination and vision to transform the restaking industry. 


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.


About YieldNest

YieldNest is a next-generation liquid restaking protocol that provides simple-to-understand, risk-adjusted restaking strategies. It’s a decentralized protocol that enables ETH holders to natively restake their ETH into EigenLayer, earning rewards without sacrificing liquidity. This fosters trust-minimized connections between restakers and Node Operators.


YieldNest’s mission is to abstract away the complexities of restaking by building a one-stop-shop, easy-to-understand nLRT and LRT-based products with superior risk-adjusted returns. It leverages EigenLayer and prioritizes the security of the protocol, user funds, and Ethereum.


Website: https: https://www.yieldnest.finance/

X Followers today: 10,892

 

About Investor

Investor: Faculty Group

Faculty Group is a collective of blockchain-native companies that build, fuel, and guide the Web3 game changers of tomorrow1. They offer a comprehensive set of services for companies entering or building in Web3. Their services include venture capital, marketing & PR, market making, incubation, launch infrastructure, and more.


Faculty Group is a collection of synergistic blockchain-native firms with exceptional access to opportunities within web3, and the unique capabilities to create deep value.


Location: Adelaide, Australia




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