Access the future of onchain yield.Live at an APY of19.55%

Kerne is a delta neutral yield infrastructure built on Base. Unlike traditional yield protocols that expose you to directional price risk, Kerne pairs your deposited assets with an opposing short position on a perpetual exchange, meaning you earn yield regardless of whether the market goes up or down. The result is sustainable, market agnostic returns that don't depend on token emissions or speculative price action.

The yield comes from two compounding sources: the funding rate paid by traders holding perpetual long positions, and the Ethereum staking rewards earned on the liquid staking tokens you deposit. These two streams stack on top of each other. Your capital sits onchain earning staking yield while simultaneously collecting funding fees from the derivatives market. Combined, they produce 12% to 25% APY depending on market conditions.

Because your position is delta neutral, directional market moves largely cancel each other out. Your principal is not at risk from price swings the way it would be in a standard leveraged position. Kerne also maintains a dedicated insurance buffer to absorb funding rate inversion events (the rare periods where funding goes negative), and the protocol operates with automated risk monitoring and circuit breakers to protect depositors.

No. Once you deposit into a Kerne vault, the protocol handles everything: opening and maintaining the hedge, collecting funding and lending yield, rebalancing when needed, and compounding your returns. The vault is fully automated. You hold a standard ERC-4626 vault token that appreciates in value as yield accrues. You withdraw when you want, no active management required.

kUSD is a yield bearing synthetic dollar. It holds a stable value of $1.00 while the protocol works behind the scenes to generate and distribute returns to every holder automatically. As the protocol generates funding and staking returns, those yields flow into and reinforce kUSD's backing. kUSD is an ERC-20 token on Base, maintaining full compatibility with the existing DeFi ecosystem.

Kerne's contracts are built to institutional grade standards: Solidity 0.8.24, OpenZeppelin v5 battle tested libraries, and full Foundry test coverage including edge case scenarios and fuzz testing. Formal audits are an ongoing process and a continual part of our roadmap. Onchain proof of reserves attestations are also automated, giving you real time verifiability of what the protocol holds versus what it owes.

The $KERNE token provides governance and revenue sharing to holders. Our loyalty program, Opal, rewards early participants for their contribution over time. You can participate now by depositing into our vaults via the Kerne terminal.