Binance Labs invests $10 million in Helio Protocol
Date: 2023-08-11 Author: Karina Ziganova Categories: BLOCKCHAIN, CRYPTO PAYMENTS
Venture arm Binance Labs has invested $10M in Helio Protocol to help transform it into a liquid staking platform.
The new capital of Helio Protocol will be directed to staff expansion, diversification of collateral among liquid staking providers.
For now, the protocol is powered by the BNB network, but the new funding is expected to help expand the protocol to other blockchains.
“Helio’s goal is to launch on Ethereum and later on other L-2 networks such as Arbitrum and Zksync,” the fund said in a statement.
Previously, Binance Labs supported the development of 4 projects that won Season 6 of the Most Valuable Builder (MVB) program. They were AltLayer, KiloEx, Kinza and Sleepless AI. In July, the venture fund led a $4 million investment in the Web3Go project.
