Australia, 24th Jul 2023, King NewsWire –
0xBoost, a prominent decentralized staking and yield aggregator in the DeFi sector, has reported a staggering influx of $25 million in staking within just one day of supporting the Binance Coin (BNB) chain. This significant boost in capital can be attributed to the platform’s recent Series A funding round where Binance Labs was identified as the principal investor.
Alex Odagiu, Investment Director at Binance Labs, confirmed that the investment arm of Binance, one of the world’s leading cryptocurrency exchanges, was indeed the main investor in 0xBoost’s Series A fundraising. The backing by such a distinguished institution in the crypto world has exponentially increased investor confidence, leading to the remarkable staking volume seen on the platform.
0xBoost’s recent support for the BNB chain is widely regarded as a strategic move following the platform’s recent funding round. It’s a move that has clearly paid off, attracting a significant amount of capital in a relatively short period, further solidifying the platform’s position in the competitive decentralized finance landscape.
The addition of BNB chain staking to 0xBoost’s platform not only expands the diversity of its staking options but also aligns with the company’s mission to become the default staking aggregator for crypto investors. This development is a testament to 0xBoost’s commitment to delivering on its roadmap and using the funds from the Series A round to enhance its offerings.
The rapid influx of capital into 0xBoost’s platform as a result of supporting the BNB chain, coupled with Binance Labs’ significant investment and the expertise they bring, is likely to accelerate the platform’s growth and innovation within the decentralized finance sector.
With an already impressive total value locked (TVL) of over $100 million, the platform’s recent developments and strategic partnerships are expected to further strengthen its market position and attract more investors looking for a simple and efficient way to stake their crypto assets and earn yields.
David Granzien, Founder of 0xBoost, has expressed his delight over the platform’s recent successes, noting that the support and strategic partnerships fostered through the Series A funding round would enable 0xBoost to “raise the bar” for what the platform can achieve in the future.
The rapid growth and success of 0xBoost underscore the increasing investor interest in the staking and yield aggregation space, a trend expected to continue as the decentralized finance sector evolves.
0xBoost is a decentralized finance platform that leverages algorithmic trading techniques and smart contract protocols to optimize yield farming strategies. With a commitment to security and innovation, 0xBoost aims to redefine the staking landscape and provide users with a secure and efficient environment to generate sustainable yields.
About Binance Labs
Binance Labs is the venture capital and incubator arm of Binance, the world’s leading cryptocurrency exchange. Committed to fostering innovation and advancing blockchain technology, Binance Labs invests in projects and provides resources to support the growth of the broader crypto ecosystem.
Organization: 0xBoost Finance
Contact Person: Andrew Wachtel
Release Id: 2407234988
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