Trusted

Binance Megadrop Launches KernelDAO: A Restaking Protocol with $1 Billion in TVL

2 mins
Updated by Ann Maria Shibu
Join our Trading Community on Telegram

In Brief

  • Binance Megadrop launches KernelDAO, a restaking protocol supporting Kernel, Kelp, and Gain tokens, with a 20-day airdrop event.
  • KernelDAO enables users to repurpose staked assets for higher yields, with Kelp managing $2 billion+ TVL across 10 blockchains.
  • Binance allocates 40 million KERNEL tokens for the Megadrop, with trading pairs launching post-event on Binance Spot.
  • promo

Binance Megadrop has announced its fourth project – KernelDAO (KERNEL), a restaking protocol supporting three key tokens Kernel, Kelp, and Gain.

Introduced in 2024, Binance Megadrop is a token launch platform that provides users with early access to promising crypto projects before their official listing.

KernelDAO and Binance Megadrop: Overview

KernelDAO is a restaking protocol that allows users to repurpose staked assets (such as ETH or BNB) to participate in other protocols, maximizing yield. The protocol launched its mainnet in December 2024.

The KernelDAO Megadrop event kicks off on April 1, 2025, and lasts for 20 days, rewarding participants with KERNEL tokens. Kelp, a KernelDAO component, manages over $1.15 billion in Total Value Locked (TVL) across 10 blockchains, including Ethereum and BNB Chain.

Kelp TVL. Source: DefiLlama
Kelp TVL. Source: DefiLlama

KernelDAO has a maximum supply of 10 billion KERNEL tokens. Binance has allocated 40 million KERNEL (4% of the total supply) for participants. Upon listing on Binance, the initial circulating supply will be 162,317,496 KERNEL (16.23% of the total supply).

After the Megadrop event, KERNEL will be listed on Binance Spot with trading pairs such as KERNEL/BTC, KERNEL/USDT, and KERNEL/BNB.

KernelDAO is the fourth project on Binance Megadrop, following Lista (LISTA) and Xai (XAI). Previously, Binance Labs invested in Kernel to build recovery infrastructure on the BNB Chain.

Binance’s inclusion of KernelDAO could contribute to the growth of the restaking sector. According to DeFiLlama, the total TVL of restaking protocols surpassed $15 billion in early 2025, with EigenLayer and Kelp leading the market.

With 40 million KERNEL tokens distributed through Megadrop, many participants may sell immediately after receiving their tokens, potentially creating downward price pressure. Additionally, increasing competition from protocols like EigenLayer could pose challenges for KernelDAO.

Additionally, not all projects listed on Binance have performed impressively. In 2024, Binance-listed tokens all fell, with 29 out of 30 tokens posting significant losses.

Top crypto platforms in the US
Uphold Uphold Explore
eToro eToro Explore
Plus500 Plus500 Explore
Coinbase Coinbase Explore
Moonacy Moonacy Explore
Top crypto platforms in the US
Uphold Uphold Explore
eToro eToro Explore
Plus500 Plus500 Explore
Coinbase Coinbase Explore
Moonacy Moonacy Explore
Top crypto platforms in the US
Uphold Uphold
eToro eToro
Plus500 Plus500
Coinbase Coinbase
Moonacy Moonacy

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

linh.jpg
Linh Bùi
Linh Bùi (builink) is a content creator in the field of finance in general and cryptocurrency in particular. With the desire to share articles specializing in knowledge about the cryptocurrency market, builink takes on the task of compiling articles about experience and knowledge for beginners as well as updating HOT news in the market through more multi-dimensional perspectives.
READ FULL BIO
Sponsored
Sponsored