YieldNest
Staking · Liquid Restaking · ynETH
YieldNest issues ynETH and other 'MAX' liquid restaking tokens that bundle curated AVS and strategy exposure into risk-managed baskets.
Curated liquid restaking baskets (MAX LRTs).
Total staked
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Latest data · 15 min delay
Risks identified
- Smart Contract
MAX LRT vaults and LRT contracts carry share-issuance inflation-attack and reentrancy risk from external protocol interactions. An early Zokyo audit found (and resolved) a high-severity inflationary/share-allocation attack in ynETH, and upgradeable beacon-pattern contracts add upgrade-vulnerability surface despite timelocks.
- Governance
Access controls, parameters, upgrades, and emergency pause are managed by core-team multisigs (Security Council), creating centralization risk. The planned transition from Security Council to veYND DAO governance introduces additional uncertainty (per LlamaRisk).
- Oracle
The LSDRateProvider relies on a single price feed for LST rate accuracy; LlamaRisk notes additional price sources would reduce reliance and that this dependency is vulnerable to mispricing and depeg events.
- Reserve / Depeg
MAX LRTs and native LRTs hold liquid staking token collateral (e.g., slisBNB, various LSDs) that carries inherent depeg exposure; a depeg of underlying collateral or the LRT itself on secondary AMMs could impair redemptions at par.
- Counterparty
Heavy dependence on third-party protocols (EigenLayer, Kernel, Karak, Binomial, Lista DAO, Curve, etc.) and on selected operators. Operator performance and third-party protocol failures directly affect yield and principal safety.
- Network
As a restaking protocol on EigenLayer (and Kernel/Karak on BNB Chain), restaked assets are subject to slashing penalties for operator/AVS misbehavior; EigenLayer's slashing (ELIP-002) makes slashing outcomes more probable, and withdrawal buffers may be insufficient under stress, forcing queues or reliance on secondary-market liquidity.