Ethereum

Liquid restaking protocol YieldNest has announced the merger of PrimeStaked’s token PrimeETH into its much anticipated ynLSD product. This collaboration ensures that PrimeStaked users benefit from YieldNest’s superior technology in the DeFi space.This merger indicates YieldNest’s growth strategy as it actualizes its Decentralized Autonomous Organization (DAO).<h2 id="header-0">What is YieldNest?</h2>YieldNest intends to become the leading liquidity management and programmatic yield layer for re-staked assets in the decentralized space. YieldNest relies on superior technology to create a sustainable product for its decentralized finance (DeFi) community.It operates as a state-of-the-art ETH re-staking yield optimizer. EigenLayer provides the infrastructure that allows users to gain controlled and liquid exposure to select Actively Validated Services (AVS) categories.Several angel investors such as Michael Egorov from Curve, Sam Kazemian from Fax, and Loi Luu from Kyber backed the project. The funding from such high-level investors shows the promise this project holds.YieldNesthas a promising future ahead, which  is backed by a robust vision. The protocol launched its mainnet in May 2024 and continues to unveil its plans for the future.<h2 id="header-1">PrimeStaked</h2>The Origin Protocol created PrimeStaked to benefit users and enhance their user experience. Users can stake any amount of ETH and receive Origin Ether.With Origin Ether, users could use their OETH cross-chain while benefiting from yield rewards, such as restaking with PrimeStaked to receive primeETH.Staking does not have to be a static affair where users lock up their funds without the ability to benefit further.<h2 id="header-2">What The Merger Achieves</h2>The merger ensures that PrimeStaked users can have a more secure structure to explore re-staking opportunities. There will be airdrops, benefits, rewards and access to an exclusive NFT, as part of the campaign to reward early adopters in the rollout.YieldNest is also launching new products during this merger.One of them (ynLSD), will be YieldNest’s Liquid Restaking Derivative (LSD) product. This product aims to optimize yields by utilizing other tokens like OETH. Accordingly, you can stake assets while retaining liquidity to utilize tokens in other DeFi activities.Additionally, ynLSDe will be a solution on EigenLayer seeks to unlock ETH yields and EigenLayer rewards. The tool ensures that users benefit from more yield opportunities and re-staking strategies. ynLSDs, will be focusing on providing users benefits and yields from Symbiotic.On the other hand, ynUSDs will offer competitive yields and rewards on USD-denominated assets. ynUSD is geared toward the stablecoin side of crypto investments and provides investors with better investment and risk-management strategies by utilizing the Symbiotic ecosystem.YieldNest looks to become a fully-fledged Decentralized Autonomous Organization (DAO) for decentralized governance. Decentralization means the core team does not have an overbearing role in governance. An independent decentralized protocol will be the standard for YieldNest to achieve the vision of its community.YieldNest has an independent risk team and utilizes top tier auditors to ensure the platform and products provide stability &amp; risk-reduction for its users. YieldNest will have various incentives for loyal PrimeETH adopters who migrate to the platform. These include airdrops, bonuses, a pioneer Non-Fungible Tokens (NFTs), and other useful boosts.<h2 id="header-3">Conclusion</h2>YieldNest has a robust vision to shape (re)staking opportunities, and make it available for any kind of users. With the merger of primeETH into ynLSD, YieldNest is making moves into this direct. YieldNest’s solutions provide comprehensive insights and management tools for all users. Building a DAO with these solutions creates a network of opportunities while retaining transparency for all stakeholders

Breaking News: YieldNest’s is Merging primeETH to it’s Anticipated ynLSD

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