On November 28, Binance Labs announced its latest investment in multi-asset liquidity firm Astherus. The new Binance’s funding will go towards product development and enhance user profits and experience.
Astherus will focus on its product development and enhancing user experience with new funding
Binance Labs will fund Astherus projects, hoping to increase opportunities for DeFi users. The new funds will accelerate product development, introduce innovative revenue-generating products, and streamline DeFi interactions by making them more efficient and user-friendly.
The multi-asset liquidity hub already has platforms like AstherusEarn, which allows for stablecoin yield farming and supports additional applications. Binance investment is expected to help develop more such products to optimize gains for the platform’s users.
Moreover, Astherus is already planning to launch AstherusLayer, an L1 blockchain that will provide multi-asset staking and use Binance’s $BNB token for transaction fees.
Nicola W., investment director at Binance Labs, commented on the investment:
Astherus’ approach to enhancing asset utility and real yield aligns with Binance Labs’ commitment to backing projects building meaningful technology and driving ecosystem growth. We are excited to support Astherus in delivering greater value to DeFi users worldwide.
~Nicola W
Dust, a core contributor at Astherus, also remarked that Binance labs should be welcomed as a partner and believed that the support they received would help foster their goal for DeFi users.
Binance Labs has made several investments over the years
Aside from its funding to Astherus, Binance Labs has invested in multiple projects. Since 2018, Binance Labs has invested in over 250 projects, including Moonwalk Fitness, which received close to $4 million, Zerobase, which received $5 million, and the Hemi network, which received over $15 million.
On September 12, Binance also revealed it would fund the RWA platform, OpenEden, which at the time held $100 million in Total Value Locked (“TVL”) for their tokenized TBILLs.
Binance Labs has also funded TON blockchain projects, including its capital influx to Pluto Vision Labs, the publisher behind the popular Telegram-based game Catizen, in August. Like Astherus, Pluto Labs said it would use Binance’s investment for its product development and design, particularly for the Catizen mini-app and game engine, aimed at attracting more users to the platform.
At the time, Yi He, Binance Co-Founder and Director of Binance Labs stated that the company was thrilled to back initiatives that have the capacity to attract billions of users to Web3. She also emphasized that Binance Labs would continue supporting innovative creators in developing products that promote broad adoption.
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Source: https://www.cryptopolitan.com/binance-labs-invests-in-astherus/