Binance Labs Invests in StakeStone to Support Liquidity Infrastructure and Staking
Binance Labs, the venture capital and incubation arm of crypto exchange Binance, has made an undisclosed investment in StakeStone. This liquidity infrastructure startup focuses on staking and restaking in the cryptocurrency industry. StakeStone describes itself as an “omnichain liquidity distribution network” that integrates various yield sources, including Ethereum staking, restaking, real-world assets, artificial intelligence, and decentralized physical infrastructure network assets.
StakeStone currently supports Ethereum restaking on its platform. Users who stake ether with StakeStone receive STONE, a token that bears yields and can be utilized for additional rewards. The platform is also exploring opportunities within the Bitcoin restaking ecosystem to introduce “yield-bearing BTC (STONE BTC).” StakeStone aims to expand its support for other assets in the future.
Binance Labs’ Increasing Support for Restaking Startups
Binance Labs has been actively investing in startups within the restaking space. This year alone, it has invested in several projects:
- Babylon – a Bitcoin staking protocol
- Renzo – an Ethereum restaking protocol
- Puffer Finance – an Ethereum restaking protocol
Furthermore, Binance Labs recently invested in seven more startups, including Ethena Labs and Derivio. Ethena Labs is a synthetic dollar protocol developer, while Derivio is a decentralized derivatives exchange based on zkSync.
Binance Labs: A Separate Entity from Binance
Earlier this year, Binance Labs quietly spun off from Binance. As a separate entity, Binance Labs operates independently from the crypto exchange. This structure is similar to the Binance-backed BNB Chain project, with minimal operational changes.
Last year, Binance Labs closed a $500 million fund, accepting external capital for the first time. However, during the summer, it started returning undeployed capital to limited partners.
Conclusion: Expanding Support for Staking and Restaking
Binance Labs continues to demonstrate its commitment to supporting startups in the staking and restaking sectors. By investing in StakeStone, an innovative liquidity infrastructure startup, Binance Labs aims to contribute to the development of these emerging areas within the cryptocurrency industry. With its ongoing investments in various projects and its independent status from Binance, Binance Labs is well-positioned to drive innovation and growth in the crypto ecosystem.
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