Binance Labs invests in THENA, supporting its DeFi growth on BNB Chain with a focus on liquidity, security, and scalability.
Binance Labs has invested in THENA, a decentralized exchange (DEX) and liquidity protocol built on BNB Chain. The news was shared by Binance Labs’ official X account. Binance Labs is a renowned Web3 focused venture capital firm dedicated to supporting early stage projects in the Web3 space.
Launched in January 2023, THENA uses the ve(3,3) tokenomics model. The goal of the platform is to create a liquidity layer with the best features of leading DeFi protocols. Security, scalability, and a user experience are the values that THENA reclaims. Its goal is to encourage more DeFi adoption, empower the users and build a transparent, collaborative ecosystem.
THENA will speed up development on its platform with the proceeds of this investment. Some of the money will be used to improve security, attract more users, and to strengthen partnerships in the BNB Chain ecosystem. The investment will also go towards the continued innovation in decentralized finance (DeFi).
Binance Labs Backs THENA for Next-Gen DeFi Development
Investment Director at Binance Labs, Alex Odagiu, expressed confidence in THENA. Binance Labs wants to invest in projects with meaningful use cases and their contribution to ecosystem development, he said. According to him, THENA’s approach to liquidity and experience with the user will help the platform to help the next generation DeFi growth. Binance Labs is also excited to support THENA’s journey to become a key platform in bringing more users into DeFi, added Odagiu.
Theseus also commented on the partnership as the CEO and co-founder of THENA. Binance Labs’ expertise with Web 3 and their investments in successful DeFi projects will allow THENA to reach a global audience said he. Theseus also laid out his excitement about the partnership and promised that they’d be sharing more on that soon.
Recently, Binance Labs has been actively investing in other ventures. It invested $10 million in Usual, a project innovating the stablecoin ecosystem, alongside Kraken Ventures. The aim is to unite real-world assets (RWAs), DeFi, and a community-first model.
Astherus, a multi-asset liquidity hub received investment from Binance Labs in November. This is a platform that wants to maximize the real yield of crypto assets. This also demonstrates Binance Labs’ commitment to bolster the DeFi space and to foster development of projects that push the envelope.
