Binance Labs has invested in Infrared, a protocol designed to provide users with seamless access to Berachain’s Proof of Liquidity (PoL) mechanism.
- Mission: Infrared aims to maximize value capture by offering liquid staking solutions for BGT (Berachain Governance Token) and BERA (Berachain Gas Token), along with essential node infrastructure and PoL vaults.
Investment Highlights:
- Binance Labs' Role: The venture capital and incubation arm of Binance, Binance Labs, has strategically invested in Infrared to support its innovative approach to Proof of Liquidity on the Berachain network.
- User-Friendly Solutions: Infrared focuses on delivering user-friendly liquid staking solutions, enhancing the utility of staked assets while maintaining liquidity through products such as “iBGT” and “iBERA.”
Infrared’s Vision:
- Strengthening Berachain: The funding will help Infrared reinforce the Berachain network’s backbone, ensuring security, efficiency, and reliability.
- Enhancing Products: Infrared plans to refine its staking solutions, allowing participants to maximize their staked assets' utility without sacrificing liquidity.
- Boosting Network Performance: Improved user experience and network performance are expected to drive broader adoption of the Berachain ecosystem.
Berachain’s PoL Mechanism:
- BGT and BERA Roles: BGT governs future BGT emissions and becomes non-transferable upon issuance to an address, while BERA is utilized by validators for staking, block production, and rewards.
- Utility of iBGT: By depositing BGT into Infrared vaults, users receive iBGT, a liquid wrapper enabling them to retain BGT benefits while exceeding DeFi ecosystem functionalities.
Statements from Industry Leaders:
- Yi He, Co-Founder of Binance and Head of Binance Labs:
“At Binance Labs, we are always on the lookout for projects growing the blockchain industry so look forward to supporting Infrared in its mission to create an infrastructure that will drive the future growth of decentralized finance."
Raito, Founder of Infrared Finance:
“We are incredibly excited to receive support from an industry leader like Binance Labs. This investment validates our vision and with Binance Labs' investment, we are more confident than ever in our ability to build the infrastructure and tools needed to drive the future growth of Berachain."
Binance Labs' investment in Infrared signifies a pivotal step towards enhanced Proof of Liquidity mechanisms on Berachain. With a focus on innovative staking solutions and network optimization, Infrared is poised to drive substantial growth in the DeFi landscape and support the broader adoption of Berachain.