YieldNest and Origin announce the merger of primeETH into ynLSD

[PRESS RELEASE – London, UK, July 4th, 2024]

In a groundbreaking initiative, fertility nest Announcement of merger PrimeStakeLiquid Restake Token (LRT) primeETH goes into YieldNest’s extremely anticipated ynLSD product. This cooperation supplies primeStaked customers with YieldNest’s superior know-how, bringing unparalleled benefits and marking an essential step ahead within the DeFi area. That is in step with YieldNest’s imaginative and prescient to change into the premier liquidity administration and programmatic yield layer for re-staking DeFi property.

To have a good time, YieldNest supplies unique advantages to primeETH customers and extra YieldNest group rewards, with the reward ratio anticipated to exceed 60%.

PrimeStaked: A journey of innovation and dedication

PrimeStaked, an initiative origin protocol, at all times striving to remain on the forefront of the ever-evolving DeFi business. Since its institution, PrimeStaked has been dedicated to offering advantages to customers and continuously innovating to enhance person expertise. This merger with YieldNest ensures PrimeStaked customers keep on the forefront of the business and profit from expanded alternatives.

YieldNest: Shaping the way forward for remortgaging

YieldNest is understood for its revolutionary method and cutting-edge know-how, with expertise in Curve (Michael Egorov), Convex (Winthorpe & C2TP), Frax (Sam Kazemian), Kyber (Loi Luu), Algorand (Steve Kokinos), Yearn (Wavey), Moralis ( Ivan on Tech) and many others.

YieldNest is dedicated to constructing perpetual merchandise designed for long-term success, providing distinctive options corresponding to managed AVS Publicity utilizing YieldNest/externally curated LRTs and unbiased LRTs constructed round a number of recollateralization protocols. YieldNest’s merchandise are targeted on delivering actual, secure and most risk-adjusted returns.

YieldNest pioneers ynLSD (ynLSDe, ynLSDs) and ynUSD

Along with the primeETH merger, YieldNest will launch new merchandise:

LSD It’s YieldNest’s revolutionary Liquidity Recollateralized By-product (LSD), designed to optimize person returns by leveraging different DeFi tokens corresponding to OETH. LSD permits customers to stake their property whereas retaining liquidity, that means they will nonetheless use their staked property in different DeFi actions. YieldNest’s first ynLSD merchandise might be:

1. In LSDe – Liquidity re-staking answer on EigenLayer designed to unlock subsequent technology ETH yield and EigenLayer rewards. Make the most of EigenLayer’s infrastructure to supply customers with income alternatives by means of custom-made re-hypothecation methods.
2. ynLSD – A renewed method to innovation in symbiotic ecosystems. The ynLSDs token leverages Symbiotic’s infrastructure to supply customers with the chance to earn income and Symbiotic rewards.

In USD – Goals to supply aggressive yields and symbiotic rewards for USD-denominated property and supply risk-adjusted returns by means of revolutionary methods tailor-made to the distinctive traits of stablecoins.

YieldNest goals to completely transition to a DAO and sub-DAO construction for group decision-making. The aim is to create a self-sustaining, decentralized protocol that may function independently of the core group. The governance construction options Homes, every ruled by leaders elected primarily based on staked YND tokens, and every Home votes on particular classes of points. This shift emphasizes the significance of community-consistent token distribution and steadily transfers energy to the group, making YieldNest a completely decentralized liquidity re-staking protocol that may be operated, maintained and developed from the within.

YieldNest’s imaginative and prescient is broad and goals to form the way forward for remortgage by offering complete perception into all related dangers. Having an unbiased threat group and audits by high auditors supplies customers with extra safety and stability. The merger will deliver a brand new community of alternatives to primeETH customers, strengthen its ecosystem, and supply extra income and rewards by means of protocols corresponding to EigenLayer and future companions corresponding to Symbiotic.

Be part of forces to create a greater future

This merger is greater than only a strategic alliance; That is the subsequent logical step within the evolution of YieldNest and PrimeStaked.

PrimeStaked customers will now have entry to YieldNest’s superior know-how and revolutionary merchandise, guaranteeing they continue to be on the forefront of the DeFi business. This cooperation goals to create a stronger, safer and extra helpful setting for all customers, paving the best way for a brighter future.

To have a good time and reward all loyal primeETH adopters who’ve migrated to YieldNest, primeETH customers will obtain unique advantages for a restricted time:

• PrimeStaked YieldNest Airdrop
• YieldNest seed bonus (primeETH customers +5% bonus)
• Get Pioneer NFT + 15% everlasting enhance (‍Migrate 5 OETH or extra)
• Obtain AVS/community income and airdrops
• and plenty of others

For all migrated primeETH customers and native customers of YieldNest, YieldNest expects that the full airdrop allocation might be a minimum of 15% of the full YND provide, and plans to extend the quantity allotted to airdrops over time primarily based on TVL, with the aim of re-staking One of the vital beneficiant airdrops within the vertical market, with group incentives anticipated to exceed 60%.

About YieldNest

Led by business veterans, YieldNest strives to be Top liquid resample solutionunlocking next-generation methods and establishing itself because the main protocol for liquid re-staking property.

About PrimeStaked (an initiative launched by Origin):

Prime Staked ETH (primeETH) is Origin’s Liquid Re-Staking Token (LRT) that gives liquidity for property deposited into EigenLayer.

For media inquiries about YieldNest, customers can contact media@yieldnest.finance.