TL;DR
- Binance Labs backs Infrared with a strategic investment to enhance liquid staking development on Berachain.
- Infrared focuses on maximizing value on Berachain with accessible liquid staking solutions for BGT and BERA.
- The investment will enable Infrared to enhance Berachain’s security, efficiency, and develop iBGT and iBERA tokens to maximize staked asset utility.
Binance Labs has solidified its support for the Infrared protocol through a strategic investment aimed at boosting liquid staking development on the Berachain network. This protocol was designed to facilitate access to Berachain’s Proof of Liquidity (PoL) mechanism and has secured significant funding from the exchange’s venture capital and incubation division.
Infrared aims to maximize value capture within the Berachain network by offering accessible and efficient liquid staking solutions for BGT and BERA tokens. These tokens play a crucial role in Berachain: BGT serves as a non-transferable governance token controlling future emissions, while BERA is used for validator staking and block production, allowing rewards in BGT.
We are thrilled to announce that @BinanceLabs has invested in Infrared!
This funding enables us to further develop innovative products around Proof of Liquidity on @berachain. https://t.co/Ssr6sTBR8o
— Infrared (@InfraredFinance) June 24, 2024
Binance’s Bet on Berachain
With Binance Labs’ investment, Infrared plans to strengthen Berachain’s underlying infrastructure to enhance security, efficiency, and reliability. Additionally, it will focus on refining its liquid staking solutions, including iBGT and iBERA tokens, enabling users to maximize staked asset utility without sacrificing liquidity. The goal is to enhance user experience on Berachain and boost overall network performance.
Raito Bear, co-founder and CEO of Infrared, expressed enthusiasm for the support from Binance Labs, stating that this investment reinforces their vision to build robust infrastructure for driving future growth of Berachain. He emphasized that it provides the confidence to continue innovating and expanding capabilities. Yi He, co-founder of Binance and head of Binance Labs, highlighted the importance of supporting projects that promote blockchain ecosystem development.
Binance Labs is placing a strong bet on Infrared, expecting this to strengthen the Berachain ecosystem and foster adoption of advanced liquid staking solutions, thereby enhancing scalability and unlocking new opportunities and use cases in the DeFi industry.
