Binance Labs, the venture capital and incubation arm of Binance with a worth of $10 billion, has made its initial investment in the Berachain ecosystem. The company is known for its investments in various cryptocurrency projects in different sectors. Infrared Finance, a Berachain liquid staking protocol, has received an undisclosed amount of funding from Binance Labs. This investment marks Binance Labs’ first venture into the Berachain ecosystem. Infrared Finance aims to build an infrastructure that will drive the future growth of decentralized finance. The CEO of Infrared Finance expressed excitement and gratitude for the support from Binance Labs, stating that the investment validates their vision and strengthens their confidence in their ability to support Berachain’s growth. The CEO also highlighted that Infrared is a Berachain liquid staking protocol that creates liquid staking tokens for two key tokens in the Berachain ecosystem, namely the governance token (BGT) and the gas token (BERA). Additionally, it was announced that Infrared will launch its own token, IRED, in the future.
