A new investment in a Solana has been announced by the venture capitalists branch of Crypto Exchange Platform, which is the world’s biggest crypto exchange platform based on volume.SOLStaking Protocol
Binance Labs published a brand new blog. says It’s investing unspecified amounts into Solayer. A Solana-based stake network, Solayer has amassed over $150 million of Total Value Locked.
Binance claims that Solayer’s main goal is to enhance the performance of DApps (decentralized applications) on the chain and secure the blockchain.
“Built natively on Solana, Solayer leverages the economic principles of proof-of-stake to extend the security of Solana’s base layer towards other decentralized systems and dApps…
Solayer will use the funds it has received from Binance Labs to expand its team and onboard new protocol into the Solana ecosystem. It also plans to establish itself as the core primitive for the Solana Blockchain. The team will also focus on finding solutions for Solana’s congestion problems using restaking technology.
Yi He is the founder of Binance Labs and co-founder.
“Binance Labs is committed to supporting early-stage projects that propel the growth of crypto ecosystems. Solayer has emerged as a dominant player in the Solana ecosystem, and we are excited to join them on their journey to make the ecosystem more vibrant.”
Solana currently trades for $147, an increase of 1.8% in the past 24 hours.
Binance Labs has also been active in the last few weeks. announced A modular Cosmos, Particle Network (ATOMLayer-1 Blockchain based on the. It aims at addressing user and liquidity fragmentation, by allowing traders a single account to trade across all crypto networks.
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