Binance Labs Invests in THENA, a DEX and Liquidity Protocol on BNB Chain

THENA is a platform that launched in January 2023. Its goal is to create a liquidity layer that combines the best features of DeFi protocols.

Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has announced an investment in THENA, a decentralized exchange (DEX) and liquidity protocol on BNB Chain. According to a recent statement from Binance Labs, the platform aims to combine the best features of DeFi protocols and create a liquidity layer. Following this development, THE, the native token of Thena, experienced a surge in value, rising by more than 10% in a short span of time.

Binance Labs invests in decentralized exchange Thena

Binance Labs has announced its investment in Thena, a DEX and liquidity protocol built on BNB Chain. As stated by Binance Labs, its goal is to invest in projects that create meaningful use cases and support ecosystem development.

"Binance Labs is always looking to invest in projects that create meaningful use cases and support ecosystem development. Thena's approach to liquidity and strong focus on user experience positions them as a key player in DeFi's next wave of growth, and we are excited to support them in their quest to become a 'SuperApp' platform that will engage the masses on-chain."

- Alex Odagiu, Chief Investment Officer of Binance Labs

Launched in January 2023, Thena embraces the (3,3) tokenomics model and aims to build a composable liquidity layer. By combining the best features of leading DeFi protocols on a single platform, Thena prioritizes security, scalability, and user experience to facilitate mass adoption of DeFi. Theseus, the co-founder and CEO of Thena, had this to say:

“Bringing Binance Labs on board as a strategic partner marks a pivotal moment in our growth journey. Recognized for its expertise in Web3 and investments in high-end DeFi protocols, Binance Labs' support will greatly accelerate our mission to bring our cutting-edge DEX to a global audience. We look forward to sharing more exciting developments in the coming weeks."

- Theseus, Co-Founder and CEO of Thena

Altcoin price increases rapidly

The funds raised will be used to accelerate the development and expansion of Thena's platform, bolster security measures, scale user acquisition efforts, and forge new partnerships and collaborations within the BNB Chain ecosystem.

Meanwhile, THE, the native token of Thena, has shown a remarkable response to the news of Binance Labs' investment. In a short period of time, THE experienced a surge in value, increasing by more than 10%. At the time of writing, THE is trading at $1,597.

In other news, Binance Labs, which is currently known as Binance Labs, has announced that it will be "renamed" as it progresses towards 2025. However, the organization has officially stated that it will continue to focus on fundamentals and aim to make a long-term impact. Moving towards 2025 and beyond, the organization will continue to support founders with a shared long-term vision.

To follow the latest crypto news breaking stories, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channels.