SmartChain Defi announces a $16 million Series A round led by BINANCE LABSIssuing time:2022-05-30 22:59 London, UK – SMART CHAIN DEFI is a one-stop LaaS DeFi protocol of BNB CHAIN(formerly BINANCE SMART CHAIN), which was invested by BINANCE 1 billion growth fund in angel round, and has received USD 16 million in Series A financing led by BINANCE LABS. BINANCE LABS - A leading venture capital fund dedicated to supporting disruptive technologies and outstanding innovators.
The SMART CHAIN DEFI team who has more than 8 years experience in the blockchain and cutting-edge technologies in Web3, and can maintain the stability and scalability of the system in an environment with millions of daily transactions and large user visits. It is designed to allow innovative Web3 applications to explore blockchain with scalable and low barrier to entry solutions. “As to build one-stop infrastructure and services for Web3, all are delighted to see the investor BINANCE LABS share the vision to support global blockchain developers and help them innovate freely. This round of strategic investment will help us provide a more visionary development plan”, said Henry Liu, CEO of SmartChain Defi: SmartChain Defi's current products and services include (but are not limited to): Liquid Swap: BNBChain's liquidity mining service provider, aiming to allow investors to add liquidity to BNBChain with a lower threshold. Scalable blockchain infrastructure: One-stop infrastructure and data services for sidechains (eg BNB Application Sidechain, BAS) and ZK L2 solutions. Web3 Developer Growth Community: Build their ecosystem with top Layer1/L2 protocol and Web3 community partners, including blockchain education, talent development, hackathons and conferences. “people are very excited about the vision of the founding team to build a world-class Web3 infrastructure company. The team has extensive experience in blockchain technology development and is focused on building a one-stop infrastructure that enables fast and efficient interactions between dApps , on-chain data and users, thereby bringing parallel scalability and composability to the market. People are excited to partner with Henry, Ben and the entire SmartChain Defi team on this exciting journey.” BINANCE LABS Leader Bill Q. said. Also as an investor in this round, Adrian Kolody, founder of Domination Finance, a non-custodial decentralized exchange that invested $3 million, expressed an opinion that echoed Bill Q. in an interview with this newspaper. He explained why to invest in SmartChain Defi from the perspective of traditional finance to hedge inflation by embracing WEB3. Kolody pointed to the decentralized finance (DeFi) sector as a viable option. By using the stablecoin BUSDT (Tether's USD stablecoin issued on BNBChain) and decentralized applications (DApps), SmartChain Defi allows investors to "surpass inflation" while defending against "the risk of spot positions," he said. To do this, they just need to find a way to earn interest on the stablecoin above the annual inflation rate. Kolody said: “The best way to look at it is that cryptocurrencies give investors the flexibility to take control of your own finances in a variety of ways, minimizing policy risk.” About SmartChain Defi SmartChain Defi is a DeFi protocol that provides one-stop LaaS. Its philosophy is that tokens should have better on-chain liquidity in an efficient and durable way. SmartChain Defi is deployed on BNB Chain, provides liquidity services to PancakeSwap and more than 10 protocols, and manages more than $60 million in liquidity from well-known institutions and more than 80,000 individual liquidity providers. The ultimate goal of SmartChain Defi is to help every partner and token enjoy on-chain liquidity. About BINANCE LABS Binance Labs identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities, providing financing to industry projects that help grow the wider blockchain ecosystem. Binance Labs is committed to supporting fast-executing, technical teams who positively impact the crypto space and build the decentralised web. |
