According to an official announcement, Binance Labs, announced its investment in the Berachain ecosystem protocol Infrared. This marks Binance’s first investment in the Berachain ecosystem-related protocol.
The project aims to provide user-friendly liquidity staking solutions for Berachain’s governance token (BGT) and BERA (Berachain Gas token), maximizing the value capture within the Berachain network. Specifically, through Infrared, users can easily interact with these two assets. By depositing liquidity into the Infrared vault, users can obtain iBGT (a derivative of BGT’s liquidity staking), allowing them to benefit from iBGT within the entire DeFi ecosystem while retaining the advantages of BGT.
Infrared will utilize this funding to strengthen the backbone of the Berachain network, ensuring enhanced security, efficiency, and reliability. He Yi, Co-founder of Binance and Head of Binance Labs, expressed that