Upbit Adds KernelDAO (KERNEL) to KRW Market: Trading Details and Highlights

Upbit, South Korea’s premier digital asset exchange, announced on October 28 the addition of KernelDAO (KERNEL) to its KRW market. Trading support for KERNEL was set to go live at 4:30 p.m. on the same day, marking an important milestone for the innovative blockchain project and offering investors new opportunities in the re-staking ecosystem.

KernelDAO: Revolutionizing Re-Staking Infrastructure

KernelDAO stands out in the blockchain landscape with its focus on enhancing re-staking infrastructure through three distinct services: Kernel, Kelp, and Gain. These interrelated protocols demonstrate KernelDAO’s commitment to advancing blockchain functionality and creating reliable, utility-driven ecosystems.

Key Components of KernelDAO

1. Kernel: Operating on the BNB Chain, Kernel facilitates re-staking services, supporting both BNB Liquid Re-Staking Tokens (BNB LRT) and BTC Liquid Re-Staking Tokens (BTC LRT). This protocol empowers users to efficiently re-stake their digital assets to optimize returns.
2. Kelp: Designed exclusively for the Ethereum network, Kelp offers an Ethereum-based re-staking protocol. It caters to Ethereum (ETH) holders, enabling them to maximize yield through secure re-staking mechanisms.
3. Gain: A vault-style smart contract, Gain focuses on managing and safeguarding deposited assets such as ETH, rsETH, and other liquid staking tokens (LSTs). The secure environment ensures the seamless deployment of staking strategies.

At the heart of these services lies the native KERNEL token, which serves diverse purposes ranging from governance participation to re-staking and slashing insurance. This multifaceted utility enhances the token’s significance within KernelDAO’s comprehensive ecosystem.

Initial Trading Restrictions for Stability

Upbit emphasized precautions to ensure a stable trading environment for KERNEL during its initial phase. The exchange applied specific restrictions immediately following the trading launch to mitigate volatility and establish fair market conditions:

1. Buy Order Ban: For the first five minutes, placing buy orders was restricted to prevent premature price surges.
2. Sell Order Limitations: During this period, sell orders priced 10% or below the BTC market's previous closing figure (0.00000144 BTC, equivalent to approximately 243.3 KRW) were disallowed.
3. Market Order Restrictions: For the first two hours, users were restricted to limit orders only, as non-limit orders and market orders were temporarily disabled.

These strategic measures reflected Upbit’s commitment to fostering a controlled and fair trading environment for its users.

Deposit Compatibility and Guidelines

Depositing KernelDAO tokens (KERNEL) is exclusively supported on the Ethereum network. Upbit urged users to verify that their transactions align with the correct network and contract address before initiating deposits to avoid errors. The official Ethereum-supported contract address for KERNEL deposits is:

0x3f80b1c54ae920be41a77f8b902259d48cf24ccf

This careful guidance highlights Upbit’s effort to secure user funds and streamline deposit operations.

Expanding Upbit’s Digital Asset Portfolio

With the inclusion of KernelDAO, Upbit continues to broaden its portfolio in response to rising demand for governance-driven and re-staking blockchain projects. This move not only reinforces Upbit’s leading position in the cryptocurrency exchange industry but also demonstrates its adaptability in catering to the evolving needs of the global crypto community. Through such strategic listings, Upbit maintains its dedication to providing cutting-edge digital asset solutions while empowering investors with access to transformative technologies.

By listing KernelDAO (KERNEL), Upbit cements its role as an innovator supporting the growth of blockchain infrastructure and staking protocols, solidifying its reputation as a trusted platform in the digital asset space.