Binance Labs Invests in THENA to Accelerate DeFi Innovation on BNB Chain

In its X’s announcement today, December 31, 2024, the investment firm claimed that it views THENA’s approach as vital to the future of DeFi, positioning it as a potential “SuperApp” to onboard users on-chain. It noted that it expects the investment to help accelerate the platform development, enhance security, and expand its user base.

Launched in January 2023, THENA aims to create a unified liquidity layer by leveraging the innovative ve(3,3) tokenomics model. The platform combines the best features of leading DeFi protocols with a focus on security, scalability, and user experience, all designed to drive mass adoption of DeFi.

“Theseus,” the CEO and Co-Founder of THENA, expressed excitement about the partnership, highlighting Binance Labs’ crucial role in scaling the platform and reaching a global audience. They teased more developments in the coming weeks.

Alex Odagiu, Binance Labs’ investment director, emphasized the significance of the investment, stating that THENA could potentially revolutionize the DeFi space. Odagiu also noted that Binance Labs seeks to invest in projects that unlock meaningful use cases and foster ecosystem growth.

This investment comes on the heels of Binance Labs’ recent ventures into other innovative areas. The firm invested in BIO Protocol, a platform bridging decentralized funding with early-stage scientific research, in November 2024. The investment marked the firm’s first step into the decentralized science (DeSci) sector. BIO Protocol aims to merge biotechnology with DeFi, expanding BioDAOs and offering seed funding to new ventures.

Also, earlier in the year, the firm invested in BounceBit, a DeFI protocol that seeks to enhance Bitcoin staking and CeDeFi infrastructure. It praised the protocol for its innovative fusion of DeFi and CeFi and for providing new utility for Bitcoin. With its Proof of Staking (PoS) and dual-token structure, BounceBit improves Bitcoin’s operational security and efficiency, integrating Bitcoin’s security with Ethereum Virtual Machine (EVM) compatibility.

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

The post Binance Labs Invests in THENA to Accelerate DeFi Innovation on BNB Chain appeared first on DeFi Planet.