- #Binance Labs commits $10 million to Helio Protocol, an innovative project shaping the future of DeFi.
- #Helio #Protocol integrates over-collateralized stablecoin lending and borrowing on #BNB Chain with multi-chain StaaS and #LSDfi through Synclub.
- Funds will be used to diversify collateral across liquid staking providers and support multi-chain growth, ensuring a robust and secure platform for the LSDfi community.
- Helio Protocol's total value locked (TVL) is around $300 million, with $260 million in staked assets.
- Binance Labs' commitment underlines support for innovative projects driving the future of the Web3 industry.
- Helio Protocol acquired Synclub in July 2023 to maximize HAY's potential by using additional LSTs as collateral.
- Synclub's staking infrastructure enhances security and innovation, bringing new product features and opportunities.
- Yi He, Co-Founder of Binance, and Head of Binance Labs, emphasizes Binance Labs' dedication to fostering DeFi growth.
- Helio Protocol aims to expand its team, diversify collateral, and support multi-chain growth with the allocated funds.
- The project will release a development roadmap and refresh its branding for growth and innovation.
- Helio Protocol's mission is to provide a secure, high-security LSDfi infrastructure, enhancing capital efficiency and rewards.
- Toru, Founder and CEO of Helio Protocol, highlights the investment's impact on growth and resources.
- Helio Protocol's Synclub has 11,000 HAY holders and approximately $300 million TVL, with $260 million assets managed on Synclub's validator node, ranking it second-largest validator on BNB Chain.
