Main Takeaways:
Binance Labs has invested in Infrared, a protocol focused on giving users access to Berachain’s Proof of Liquidity (PoL) mechanism in one click.
Infrared aims to maximize value capture by providing user-friendly liquid staking solutions for BGT and BERA, node infrastructure, and PoL vaults.
Binance Labs, the venture capital and incubation arm of Binance, has invested in Infrared, a protocol focused on giving users access to Berachain’s Proof of Liquidity (PoL) mechanism in one click.
Infrared’s mission is to maximize value capture within the Berachain network by offering user-friendly liquid staking solutions for the Berachain Governance Token (BGT) and BERA (Berachain Gas Token).
With this funding, Infrared plans to strengthen the backbone of the Berachain network to ensure enhanced security, efficiency, and reliability and refine its liquid staking solutions, including “iBGT” and “iBERA.” This will allow participants to maximize the utility of their staked assets without forgoing liquidity and improve user experience, boost network performance, and drive broader adoption of Berachain.
Berachain’s PoL design revolves around BGT’s governance power which controls the flow of future BGT emissions and is non-transferable once earned by an address and BERA which is used 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 will enable a new ecosystem to develop around BGT and iBGT, unlocking new use cases on Berachain.
Yi He, Co-Founder of Binance and Head of Binance Labs said: “At Binance Labs, we are always on the lookout for projects growing the blockchain industry so look forward to supporting Infrared in its mission to create an infrastructure that will drive the future growth of decentralized finance.”
Raito, Founder of Infrared Finance said: “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.”
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About Infrared
Infrared is focused on building infrastructure around the Proof of Liquidity (PoL) mechanism pioneered by Berachain. The protocol aims to maximize value capture by providing easy-to-use liquid staking solutions for BGT and BERA, node infrastructure, and PoL vaults. Through building solutions around PoL, Infrared is dedicated to enhancing the user experience and driving the growth of the Berachain ecosystem.
For more information, follow Infrared on X/Twitter.
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs has now grown to be worth over $10 billion. Its portfolio covers 250 projects from over 25 countries across six continents and has a return on investment rate of over 14X. Fifty of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X.
Disclaimer: The information provided in this article is intended for informational purposes only and does not constitute investment advice, endorsement, analysis, or recommendations with respect to any financial instruments, investments, or issuers. This article may contain forward-looking statements which are by nature subject to risks and uncertainties. Investment in cryptocurrency and DeFi projects involves substantial risk, including the risk of complete loss. This article does not take into account the investment objectives, financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decisions.
