Binance Labs Invests in Infrared

Binance Labs is backing Infrared, which aims to provide one-click access to Berachain’s Proof of Liquidity mechanism.

The Deets

Strategic Investment: Binance Labs invests in Infrared to enhance Berachain's network.
User-Friendly Solutions: Infrared offers liquid staking for Berachain Governance Token (BGT) and BERA.
Enhanced Network: Funding will bolster security, efficiency, and reliability.
Innovative Assets: Introduction of liquid wrappers like iBGT and iBERA.

The Bulk

Binance Labs, the venture capital and incubation arm of Binance, invested in Infrared, a protocol focused on simplifying user access to Berachain’s Proof of Liquidity (PoL) mechanism. Infrared aims to maximize value capture within the Berachain network by offering liquid staking solutions for the Berachain Governance Token (BGT) and the Berachain Gas Token (BERA).

Berachain’s PoL design centers on the governance power of BGT, which controls future BGT emissions and is non-transferable once earned. BERA is utilized by validators to stake, produce blocks, and earn rewards. Through Infrared, users can easily interact with both assets. By depositing liquidity into Infrared vaults, users can earn iBGT, a liquid wrapper for BGT, allowing them to retain the benefits of BGT while utilizing iBGT across the DeFi ecosystem. This facilitates the development of a new ecosystem around BGT and iBGT, unlocking new use cases on Berachain.

🎤 Founder Feedback

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.Raito, Infrared Founder

🔜 What's Next?

Infrared plans to use the funding to further develop its liquid staking solutions and strengthen the Berachain network's infrastructure, paving the way for future innovations and broader adoption.

For more web3 and NFT news, visit the Lucky Trader newsfeed.

Author Bio

Logan Hitchcock

NFT Analyst

Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs.

Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.