According to an official announcement, Binance Labs has announced its investment in the Berachain ecosystem protocol, Infrared. This marks Binance’s first investment in the Berachain ecosystem-related protocol.
The project aims to maximize the value extraction within the Berachain network by providing user-friendly liquidity staking solutions for Berachain Governance Token (BGT) and BERA (Berachain Gas Token). Specifically, through Infrared, users can easily interact with both assets. By depositing liquidity into the Infrared vault, users can obtain iBGT (a liquidity staking derivative of BGT), allowing them to leverage iBGT within the entire DeFi ecosystem while still enjoying the benefits of holding BGT.
Infrared will utilize this funding to strengthen the backbone of the Berachain network, ensuring enhanced security, efficiency, and reliability. He Yi, Co-Founder of Binance and Head of Binance Labs, expressed his enthusiasm for the investment.
