Binance Labs Backs Infrared in Token Round for Berachain Liquid Staking

CoinMarketCap06-25

Infrared Finance raised an undisclosed amount from Binance Labs to develop its liquid staking solutions for Berachain. The company plans to launch its staking tokens, iBGT and iBERA, on Berachain’s ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBinance Labs Backs Infrared in Token Round for Berachain Liquid Staking\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-25 20:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/667abcf0c6d3433bfb06c66e/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Infrared Finance raised an undisclosed amount from Binance Labs to develop its liquid staking solutions for Berachain.\n\n\nThe company plans to launch its staking tokens, iBGT and iBERA, on Berachain’s ...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/667abcf0c6d3433bfb06c66e/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SAFT","symbol_name":"Safety Insurance Group","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/667abcf0c6d3433bfb06c66e/","article_id":"2446843289","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/2e451d04f6624b89803c20236db65259.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446843289","pubTimestamp":1719319790,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"Infrared Finance raised an undisclosed amount from Binance Labs to develop its liquid staking solutions for Berachain. The company plans to launch its staking tokens, iBGT and iBERA, on Berac","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SAFT":"Safety Insurance Group","EVM":"Eaton Vance California Municipal","BK4107":"财产与意外伤害保险"},"translate_title":"币安实验室在令牌轮中支持红外线进行Berachain Liquid质押","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EVM":1,"SAFT":1},"content_text":"Infrared Finance raised an undisclosed amount from Binance Labs to develop its liquid staking solutions for Berachain.\n\n\nThe company plans to launch its staking tokens, iBGT and iBERA, on Berachain’s V2 testnet soon.\n\nInfrared Finance, a Berachain-based liquid staking protocol, has successfully raised an undisclosed amount in a strategic funding round led exclusively by Binance Labs, the $10 billion venture capital arm of the global cryptocurrency exchange, Binance. This marks Binance Labs’ inaugural investment in the burgeoning Berachain ecosystem.\n\nWe are thrilled to announce that @BinanceLabs has invested in Infrared!\nThis funding enables us to further develop innovative products around Proof of Liquidity on @berachain. https://t.co/Ssr6sTBR8o\n— Infrared (@InfraredFinance) June 24, 2024\n\nInfrared’s CEO, Raito Bear, confirmed that the recent investment was structured as a Simple Agreement for Future Tokens (SAFT). The fresh capital injection is intended to fuel the development of Infrared’s innovative staking solutions, which aim to enhance liquidity and staking efficiency within the Berachain network.\nEarlier this year, Infrared secured $2.5 million in seed funding from prominent investors, including NGC Ventures, Tribe Capital, Shima Capital, and Signum Capital, all through SAFT arrangements. Despite the influx of capital, Bear refrained from disclosing the total funds raised to date or the company’s valuation.\nPioneering Staking Solutions on Berachain\nFounded in 2022 as part of the Berachain Foundation’s “Build-A-Bera” initiative, Infrared Finance is focused on revolutionizing the staking landscape within the Berachain ecosystem. Berachain itself is an Ethereum Virtual Machine (EVM)-compatible Layer 1 blockchain still in its pre-mainnet phase, having amassed $112 million in funding from high-profile backers such as Brevan Howard, Polychain Capital, and Framework Ventures.\nInfrared is developing two distinct liquid staking tokens: iBGT and iBERA. These tokens are designed to enhance the liquidity and utility of Berachain’s native tokens, BGT and BERA, respectively. BGT, a governance token, is non-transferable and non-liquid, functioning similarly to a soulbound token. Infrared’s iBGT aims to integrate this token into decentralized finance (DeFi) applications, increasing its utility and accessibility for users.\nBERA, on the other hand, is the gas token required for staking by validators to participate in block production and earn rewards in BGT. Infrared’s iBERA token allows validators to maintain liquidity while staking, eliminating the need to manage complex validator infrastructures. This feature is poised to attract validators looking for more flexible staking options without compromising on reward generation.\nUpcoming Launch and Expansion Plans\nInfrared Finance is in the final stages of development and plans to launch the Berachain V2 testnet imminently. This test phase will enable the team to gather crucial user feedback and refine their protocol ahead of the mainnet release. Following this phase, Infrared intends to introduce its own token, IRED, further integrating into the Berachain ecosystem.\nThe funding from Binance Labs will also support Infrared in expanding its team and conducting comprehensive audits of its protocol to ensure security and functionality. The company currently employs eight individuals and is actively seeking to recruit a senior back-end blockchain engineer, a senior front-end engineer, and a developer relations lead.\nBinance’s native cryptocurrency, BNB, has faced significant market volatility recently. Over the past 24 hours, BNB’s value has plummeted by more than 2%, settling around $570. This drop follows a remarkable six-day rally that saw BNB reach a record high of $725 on June 6. Despite this setback, BNB remains a pivotal asset within the Binance ecosystem, reflecting cryptocurrency markets’ dynamic and sometimes unpredictable nature.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446843289"}