Binance Labs and THENA join forces to advance the BNB Chain ecosystem
The post Binance Labs and THENA join forces to advance the BNB Chain ecosystem appeared on BitcoinEthereumNews.com.
THENA secures strategic investment from Binance Labs to drive DeFi innovation. THENA (THE), a decentralized exchange and liquidity mechanism on the BNB Chain, has secured investment from Binance Labs, the venture financing and incubator arm of Binance. Launched in Jan. 2023, THE adopts the innovative ve(3,3) tokenomics model, which is a blend of decentralized governance and liquidity staking. This tokenomics model compensates token holders for their dedication and involvement in platform choices by locking their tokens for a predetermined amount of time. The concept rewards users and links them to the protocol’s success, which encourages sustainability and long-term support. “THENA’s approach to liquidity and their focus on user experience position them as a key player in the next wave of DeFi growth,” said Alex Odagiu, Investment Director at Binance Labs. Theseus, CEO and co-founder of THE, described the partnership with Binance Labs as a “pivotal moment” for the platform’s growth. He emphasized the strategic advantage of Binance Labs’ support and expressed enthusiasm for THE’s next chapter. In 2024, Binance Labs has actively backed several notable projects, including Kernel, which secured $10 million, and StakeStone, which raised $22 million. Its latest investment in THENA aligns with its mission to foster innovation and scalability across the blockchain ecosystem. THE token currently trades at $1.68, with a market capitalization of $91.3 million and a fully diluted valuation of $394 million. Its 24-hour trading volume stands at $120.1 million, reflecting active market participation, while its Total Value Locked (TVL) is $54.1 million. THE 1D chart | Source: CoinMarketCap Reaching an all-time high of $4.03 in November 2024, THE has demonstrated significant potential, even as current prices reflect a 59.6% decline from those peak levels. The token has seen a fast recovery since its all-time low of $0.0572 in September 2023, representing a surge of…
Filed under: News - @ December 31, 2024 10:28 am