The post Binance Labs Commits 10 Million USD to Helio Protocol to Advance the LSDfi Revolution appeared first on Coinpedia Fintech News
London UK: Binance Labs, the venture capital and incubation arm of Binance, has committed 10 Million USD to Helio Protocol. A project combining over-collateralized lending of its native decentralized stablecoin, HAY, with staking-as-a-service (StaaS) and LSDfi infrastructure. With approximately combined 300 million USD in TVL, of which 260 million USD is parked under staked assets. This strategic funding round emphasizes Binance Labs’ dedication to supporting innovative projects. That is set to shape the next era of DeFi.
In July 2023, Helio Protocol acquired Synclub to unleash the full potential of HAY by incorporating additional LSTs as collateral. Thus empowering users by increasing capital efficiency for maximum rewards. The addition of Synclub’s staking infrastructure and expertise will also further cultivate the product innovation required t
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