Helio Protocol Secures $10M Investment from Binance Labs
Helio Protocol, a London-based project, has recently received a significant investment of USD10M from Binance Labs. This project aims to combine over-collateralized lending of its native decentralized stablecoin, HAY, with staking-as-a-service and LSDfi infrastructure. The funds acquired from Binance Labs will be used to expand the team and diversify collateral across various liquid staking providers. Additionally, the support for future growth in multiple chains will be strengthened.
The Helio Protocol, led by Toru, Founder and CEO of the company, offers a unique combination of decentralized stablecoin lending and borrowing on BNB Chain.
Through its Synclub offerings, it also provides multi-chain StaaS and LSDfi services. The potential of HAY was harnessed when Synclub was acquired in July 2023. By incorporating additional LSTs as collateral, users are empowered with increased capital efficiency, allowing them to maximize their rewards.
With their innovative approach, Helio Protocol has managed to attract a considerable number of HAY holders, reaching 11,000 individuals. The total value locked (TVL) is estimated to be around 300M USD, with approximately 260M USD being assets under management on Synclub's validator node. These achievements demonstrate the growing popularity and success of the project, as well as the confidence investors have in its future potential.
They've invested in Helio Protocol
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