YieldNest and Origin announce merger of primeETH to ynLSD

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YieldNest merges PrimeStakeds 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 YieldNests 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.

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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. YieldNests products focus on providing real, secure, and maximum risk-adjusted returns.

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 EigenLayers 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 Symbiotics infrastructure to provide users with access to outstanding yield and Symbiotic rewards opportunities.

ynUSDsis 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.

YieldNests 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.