Binance Labs' Investment in Infrared to Propel Berachain's Growth. 🔥💰🐻
Binance Labs, the venture capital arm of Binance, has made a strategic investment in Infrared, a protocol focused on simplifying user interaction with Berachain's Proof of Liquidity (PoL) mechanism. This move signifies Binance's dedication to fostering innovation in the blockchain space.
Infrared's primary goal is to streamline value capture within the Berachain network by providing intuitive liquid staking solutions for Berachain Governance Token (BGT) and Berachain Gas Token (BERA). The funding from Binance Labs will enable Infrared to bolster the security, efficiency, and reliability of the Berachain network while refining its liquid staking offerings, including "iBGT" and "iBERA."
Berachain's PoL design is a cornerstone of its ecosystem, utilizing BGT for governance and BERA for staking and rewards. Infrared facilitates seamless interaction with these assets, allowing users to deposit liquidity into Infrared vaults and earn iBGT while retaining the benefits of BGT. This innovation is poised to open up new possibilities on Berachain and drive its broader adoption.
Binance Labs' investment in Infrared underscores their commitment to supporting projects that push the boundaries of the blockchain industry. Infrared's founder, Raito, views Binance Labs' support as a validation of their vision and a catalyst for accelerating their development efforts. This collaboration is expected to enhance the overall user experience on Berachain and contribute to the growth of its ecosystem.
