According to Foresight News, YieldNest, a liquidity re-pledging protocol supported by EigenLayer, has successfully raised $5.2 million in funding. The investment round saw participation from Faculty Group, BACKED, Loi Luu, Winthorpe, C2tP, and Michael Egorov, the founder of Curve.
The raised funds will be used to further develop and expand YieldNest's operations. The company's protocol is designed to enhance liquidity and provide a more efficient platform for users. The backing from EigenLayer, a renowned name in the industry, adds credibility to YieldNest's operations and future prospects.
The participation of prominent investors like Faculty Group, BACKED, Loi Luu, Winthorpe, C2tP, and Michael Egorov, the founder of Curve, further strengthens YieldNest's position in the market. Their support indicates a strong belief in the potential of YieldNest's protocol and its ability to revolutionize the liquidity market.