The world’s largest cryptocurrency exchange Binance-backed Binance Labs has announced that it has invested in StakeStone.
According to an article published on Binance’s official website on March 25, the exchange’s venture capital arm Binance Labs has invested in the staking protocol StakeStone.
StakeStone is a staking protocol designed to link omnichain liquidity and provide re-staking returns to emerging ecosystems.
StakeStone provides staking returns and liquidity for Ethereum layer-2 networks. The protocol eliminates compatibility issues with multi-staking and is highly scalable, supporting all types of staking.
Binance co-founder and Binance Labs president Yi He said in a statement:
StakeStone addresses the complexities of a diversified liquidity distribution, opening doors for wider participation in this field. Binance Labs is looking for projects that push the boundaries of innovation. We are excited to watch StakeStone’s growth in the industry.
Additionally, it was highlighted that, unlike traditional approaches based on Multisig (multisignature wallets), StakeStone provides full transparency.
