YieldNest and Origin announce the merger of primeETH with ynLSD

(PRESS RELEASE – London, UK, July 4, 2024)

In an innovative move, Performance Nest announced the merger of Main stakeThe Liquid Resttaking Token (LRT), primeETH, joins YieldNest’s highly anticipated ynLSD product. This collaboration marks a significant advancement in the DeFi landscape by providing primeStaked users with YieldNest’s advanced technology to deliver unparalleled benefits. This aligns with YieldNest’s vision to become the premier liquidity management and programmatic yield layer for restake DeFi assets.

To celebrate, YieldNest is offering exclusive benefits to primeETH users and additional access to YieldNest community incentives, which are anticipated to exceed 60%.

PrimeStaked: A Journey of Innovation and Engagement

PrimeStaked, an initiative of Protocol of originPrimeStaked always strives to stay at the forefront of the ever-changing DeFi industry. Since its inception, PrimeStaked has been dedicated to providing benefits to users, constantly innovating to improve the user experience. This merger with YieldNest ensures that PrimeStaked users remain at the top of the industry and benefit from better opportunities.

YieldNest: Shaping the future of resttaking

YieldNest is recognized for its innovative approach and cutting-edge technology, setting new standards in the industry with the backing of notable angels including the founders of Curve (Michael Egorov), Convex (Winthorpe and C2TP), Frax (Sam Kazemian), Kyber (Loi Luu), Algorand (Steve Kokinos), Yearn (Wavey), Moralis (Ivan on tech), and others.

Committed to creating a sustainable product designed for long-term success, YieldNest offers unique solutions such as controlled AVS exposure with LRTs curated by YieldNest/External and isolated LRTs that wrap multiple re-staking protocols. YieldNest’s products are focused on providing real, secure, and maximum risk-adjusted returns.

YieldNest is a pioneer with ynLSD (ynLSDe, ynLSDs) and ynUSDs

In line with the primeETH merger, YieldNest will launch its new products:

inLSD ynLSD is YieldNest’s innovative Liquid Resttaking Derivative (LSD) that aims to optimize user returns by leveraging other DeFi tokens, such as 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:

1. inLSDe – The liquid re-staking solution on EigenLayer, designed to unlock the next generation of eth yields and EigenLayer rewards. It leverages the EigenLayer infrastructure to provide users with yield opportunities through custom re-staking strategies.
2. and nLSD – an innovative approach to resttaking within the Symbiotic ecosystem. The ynLSDs token utilizes Symbiotic’s infrastructure to provide users with access to Symbiotic rewards and yield opportunities.

in USD – is designed to offer 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 and decentralized protocol that can operate independently of the core team. The governance structure includes chambers, each run 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 resttaking protocol that can operate, maintain, and grow itself from within.

YieldNest’s vision is broad and aims to shape the future of resttaking by providing comprehensive information on all associated risks. With its independent risk team and audits for top-tier auditors, providing more security and stability to its users. This merger will introduce primeETH users to a new network of opportunities, enhancing its ecosystem and offering additional yield and rewards through protocols such as EigenLayer and future partners such as Symbiotic.

Combining strengths for a promising future

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

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

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

• PrimeStaked YieldNest Airdrop
• YieldNest Seed Bonus (+5% Bonus for PrimeETH Users)
• Receive Pioneer nft + 15% permanent boost (‍5 OETH migrated or more)
• Receiving AVS/Network Yields and Airdrops
• And many others

For all migrated primeETH users and native YieldNest users, YieldNest anticipates the total airdrop allocation to be no less than 15% of the total YND supply and aims to increase the amount allocated to airdrops depending on increasing TVL over time with the goal of being one of the most generous airdrops to hit the market in the resttaking vertical with community incentives anticipated to be above 60%.

About YieldNest

Led by industry veterans, YieldNest aims to be the Superior replenishment liquid solutionunlocking next-generation strategies and establishing itself as the leading protocol for re-established liquid assets.

About PrimeStaked, an Origin initiative:

Prime Staked eth (primeETH) is a liquid re-stake (LRT) token from Origin, providing liquidity for assets that have been staked on EigenLayer.

For press inquiries regarding YieldNest, users may contact [email protected].

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