Binance Labs Commits $10 Million to Helio Protocol To Advance the LSDfi Revolution
Binance Labs, the venture capital and incubation arm of Binance, has announced a $10 million commitment to Helio Protocol. This strategic funding round demonstrates Binance Labs’ dedication to supporting innovative projects that will shape the future of decentralized finance (DeFi).
Key points:
– Helio Protocol recently acquired Synclub to unlock the full potential of its native decentralized stablecoin, HAY.
– The addition of Synclub’s staking infrastructure will enhance the staking experience for users and increase capital efficiency for maximum rewards.
– The upgrade will introduce new collateral conversion and withdrawal opportunities.
– Binance Labs sees tremendous potential in the LSDfi sector and hopes to see Helio and Synclub become leading protocols on BNB Chain and other blockchains.
– Helio Protocol plans to use the funds to expand its team, diversify collateral across liquid staking providers, and support multi-chain growth.
In conclusion, Binance Labs’ $10 million commitment to Helio Protocol highlights its support for innovative DeFi projects. Helio Protocol’s acquisition of Synclub and the planned upgrades will further enhance the staking experience and increase capital efficiency for users. This strategic funding round will propel Helio Protocol towards becoming a leading LSDfi protocol on BNB Chain and other blockchains.
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