Binance Labs has made an investment in Rango, which will improve the cross-chain DEX.
Rango enables the secure and quick exchange of tokens across multiple blockchains.
Rango, a cross-chain decentralized exchange (DEX) and bridge aggregator, has received an investment from Binance Labs, the venture capital and incubation branch of the world’s foremost cryptocurrency exchange.
The partnership’s objective is to accelerate the expansion of the DeFi sector by enabling seamless transactions across multiple blockchains, although the investment quantity remains undisclosed. Rango enables seamless transactions across a variety of blockchains, including 70+ DEXes and 20+ bridges, to drive DeFi growth, generating over $3 billion in transaction volume.
Among the many prominent blockchains that the protocol is compatible with at the moment are Bitcoin, Starknet, Tron, Cosmos Ecosystem, and Solana. Furthermore, TrustWallet, Exodus, Binance Web3 Wallet, and Compound are among the prominent wallets and decentralized apps (DApps) that provide access to Rango’s services.
Rango assures optimal trade prices for users by aggregating liquidity from a variety of sources, thereby reducing slippage and improving efficiency. The platform provides a user-friendly interface and a unified API to facilitate a seamless trading experience, while also supporting a diverse selection of tokens.
Rango is currently managing over 3,000 organic cross-chain swaps daily and has processed over 2.5 million swaps for 590,000 unique wallets as of June 19. The funding will be allocated to the improvement of its infrastructure and the expansion of support for additional chains.
When discussing the investment, Vahid Kaya, the Co-Founder of Rango, stated: “Rango Exchange will receive assistance from Binance Labs to advance the multi-chain ecosystem. We guarantee secure and efficient token exchanges worldwide by providing support for a variety of blockchains. We are enthusiastic about the opportunity to collaborate with Binance Labs in order to improve our cutting-edge cross-chain solutions.”
Binance Labs recently created the Incubation Alliance in collaboration with BNB Chain, a blockchain ecosystem that is community-driven. The network’s 10-week incubation program is now open to builders, founders, and developers who wish to develop new blockchain initiatives.
The BNB Chain Core Development Team underscored the alliance’s commitment to cultivating talent within the network and providing them with the necessary resources and expertise to achieve success. According to Yi He, the CEO of Binance Labs, the partnership serves as a testament to Binance’s dedication to cultivating blockchain talent.
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