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Ankr Receives a Strategic Investment from Binance Labs

Ankr is a well-known Web3 infrastructure provider. In a nutshell, the protocol works in the background, but it makes using decentralized applications, wallets, as well as crypto-based games possible by connecting them to the blockchains that they need to communicate with.

Known for its continuous support for the BNB Chain by introducing BNB Liquid Staking, as well as building some of its core infrastructures, including their Erigon upgrade, Ankr has now received a strategic investment from Binance’s VC arm – Binance Labs.

Binance Labs Invests in Ankr

According to a press release shared with CryptoPotato, Ankr has been the recipient of a strategic investment from Binance Labs. The specifics around the total amount invested remain undisclosed.

However, the proceeds will be used to double down on its RPC service while also building out its Web3 developer suite. This includes Liquid Staking DK, Web3 Gaming SDK, as well as Application Chains as a Service.

Per the release, the protocol is receiving more than seven billion blockchain requests per day across the 18 different blockchains that it hosts RPCs.

Speaking on the matter was Ryan Fang, the Chief Operating Office at Ankr, who said:

We are very excited to count Binance Labs as a strategic investor. BNB Chain is by far the chain with the highest number of daily transactions and active users. We are commited to support BNB Chain further scale, enhance BNB token utility by enabling DeFi composability using BNB Liquid Staking, and expand Binance Application Sidechain (BAS) ecosystem to enable innovative use cases requiring a highly scalable infrastructure, and other innovative infrastrcture services opening the gates to permissioned sidechains.

ANKR Token Staking Already Live

Binance’s investment in Ankr comes a couple of days after the protocol revealed that it had enabled token staking on its infrastructure level.

This allowed ANKR holders to stake their tokens to support nodes and earn rewards. CryptoPotato reported on how the rewards are distributed here. Back then, Greg Gompan, Chief Marketing Office at Ankr, said:

Today marks a monumental achievement for Ankr. One where we have moved from a centralized infrastructure provider to a truly decentralized protocol solution, where token holders can contribute and earn across the network with us. This puts Ankr in a class of its own, as not only one of the best technology companies in the industry but one of the best pure plays for aligning with multichain growth across Web3.

The post Ankr Receives a Strategic Investment from Binance Labs appeared first on CryptoPotato.