Binance Labs Commits $10 Million USD to Helio Protocol
Binance Labs, the venture capital and incubation arm of Binance, has announced a strategic funding round in which it will invest $10 million USD in Helio Protocol. This investment highlights Binance Labs’ commitment to supporting innovative projects in the decentralized finance (DeFi) sector, which are shaping the future of the Web3 industry. Helio Protocol combines over-collateralized lending of its native stablecoin, HAY, with staking-as-a-service (StaaS) and LSDfi infrastructure, and currently has approximately $300 million USD in total value locked (TVL).
Main Points:
- Binance Labs commits $10 million USD to Helio Protocol
- Helio Protocol acquired Synclub to incorporate additional LSTs as collateral
- Yi He, Co-Founder of Binance and Head of Binance Labs, expresses excitement about the potential of the LSDfi sector
- Helio Protocol will use the funding to expand its team, diversify collateral, and support multi-chain growth
- Helio Protocol aims to provide a secure and efficient LSDfi infrastructure
Unlocking the Complete Potential of Liquid Staking Tokens
With the funding from Binance Labs, Helio Protocol plans to expand its team and diversify collateral across liquid staking providers. This will enhance the security and rewards of on-chain assets for the LSDfi community. The team will also release a development roadmap and refresh the project’s branding to signal a new chapter of growth and innovation.
Hot Take:
Binance Labs’ investment in Helio Protocol demonstrates their confidence in the future of the LSDfi sector. By combining over-collateralized lending and staking-as-a-service, Helio Protocol aims to provide a secure and efficient infrastructure for users to maximize their rewards. With the additional funding, Helio Protocol will be well-positioned to drive further growth and innovation in the DeFi ecosystem.