Binance Labs, the venture capital arm of Binance, has invested 10 million USD in Helio Protocol, a project focused on decentralized finance (DeFi). Helio Protocol combines over-collateralized lending with staking-as-a-service and LSDfi infrastructure. The funding will be used to expand the team, diversify collateral, and support multi-chain growth. Binance Labs sees potential in the LSDfi sector and aims to support projects driving innovation in the DeFi ecosystem. Helio Protocol aims to unlock the complete potential of liquid staking tokens and provide a secure platform for the LSDfi community. Binance Labs has a portfolio of over 50 projects that have gone through their incubation programs. For more information, follow Binance Labs on Twitter.

Binance Labs Fuels the LSDfi Revolution by Investing 10 Million USD in Helio Protocol

In a strategic move that underscores its commitment to fostering innovation in the DeFi space, Binance Labs, the venture capital and incubation arm of Binance, has infused 10 Million USD into Helio Protocol, a trailblazing project that synergizes over-collateralized lending of its indigenous decentralized stablecoin, HAY, with staking-as-a-service (StaaS) and LSDfi infrastructure.

A Strategic Step towards a Decentralized Future

This investment comes at a pivotal time when Helio Protocol is leveraging its recent acquisition of Synclub to amplify the potency of HAY by incorporating additional LSTs as collateral. This move is poised to empower users by enhancing capital efficiency for optimal rewards.

Yi He, Co-Founder of Binance and Head of Binance Labs, expressed her enthusiasm about this development:

“Binance Labs is unwavering in our support for innovative DeFi projects and founders who are shaping the future landscape of the Web3 industry. We see immense potential in the LSDfi sector, which plays an integral role in driving the overall growth of the DeFi ecosystem. We eagerly anticipate our collaboration with Helio and Synclub and are excited about their growth as leading LSDfi protocols on BNB Chain and other blockchains.”

Unleashing Liquid Staking Tokens’ Full Potential

Helio Protocol will utilize these funds to expand its team, diversify collateral across liquid staking providers further, and strengthen support for future multi-chain growth. These initiatives will ensure that Helio and Synclub deliver a robust, secure, and diversified platform for LSDfi enthusiasts.

Helio Protocol’s strategy combines over-collateralized lending and borrowing on BNB Chain with multi-chain StaaS via its Synclub offerings.

The Growing Influence of Binance Labs

As an accelerator backed by Binance’s might, Binance Labs has grown exponentially over time. Currently valued at over 9 billion USD, it boasts fifty portfolio companies that have undergone incubation under their programs.

For more updates on these developments follow them on Twitter.

Media Contact:

  • Name: Xindaquil
  • Email: [email protected]
  • Location: London UK
  • Company: Helio Protocol

Please note that we do not control activities or data on the BNB Chain or independent third-party projects developed using the BNB Chain.

This investment marks another milestone in advancing decentralized finance (DeFi). By backing innovative platforms like Helio Protocol that integrate decentralized stablecoin with StaaS and LSDfi infrastructure, we can look forward to more efficient financial systems driven by blockchain technology.