Binance Labs announced that it has invested in StakeStone to support the Omnichain liquidity distribution network.
Binance Labs, the venture capital and incubation arm of Binance, has invested in StakeStone, a staking protocol designed to connect multi-chain liquidity and provide staking, future re-staking returns and liquidity to emerging chains and ecosystems.
“Leveraging STONE, a yield-bearing ETH token, StakeStone brings native staking returns and liquidity to Layer 2 (L2) networks.
“It is designed with a highly scalable architecture that facilitates compatibility with multiple staking underlying assets, supporting ETH POS staking, Eigenlayer repurchase including LRT, LST repurchase and local repurchase, and all emerging staking asset types.”
Yi He, Co-Founder of Binance and Head of Binance Labs, said: “StakeStone addresses the complexities of omni-channel liquidity distribution and opens the door to broader participation in the space. At Binance Labs, we actively seek out visionary projects that push the boundaries of innovation. We look forward to watching StakeStone grow in the industry .”
We’ve invested in @Stake_Stone!
StakeStone is a staking protocol for connecting omnichain liquidity.
Read more👇https://t.co/eGZAgAf4fF
— Binance Labs Fund (@BinanceLabs) March 25, 2024
*This is not investment advice.
