Binance Labs, the venture arm of the largest crypto exchange, Binance, has invested in THENA, a decentralized exchange (DEX) and liquidity protocol built on BNB Chain. The investment is expected to accelerate the development and expansion of the Web3 platform, which claims to create a “comprehensive composable liquidity layer” for the DeFi ecosystem.
Why Invest in THENA?
THENA, launched in January 2023, has adopted the ve(3,3) tokenomics model, claiming to prioritize security, scalability, and user experience. The platform’s operators also claim its mission is to drive mass adoption of DeFi, empower individual users, and foster a thriving ecosystem built on transparency and collaboration.
With Binance Labs’ investment, THENA believes it will become a key player in the next wave of DeFi growth. According to the announcement, the investment funds will target enhancing security measures, scaling user acquisition efforts, strengthening partnerships, and driving innovation in the decentralized ecosystem.
Commenting on the latest investment, Alex Odagiu, Investment Director at Binance Labs, praised THENA’s liquidity approach and focus on user experience. He believes THENA is positioned to become a leading “SuperApp” platform, onboarding the masses on-chain. He added:
“Binance Labs is always looking to invest in projects that unlock meaningful use cases and foster ecosystem development.”
THENA’s CEO and co-founder, Theseus, expressed excitement about the partnership and hinted at exciting developments in the coming weeks. This left the community eager to see what’s next for the DEX.
Not the First
Notably, Binance Labs’ recent investment in THENA is not the first significant support the platform has received. Orbs, a blockchain infrastructure provider, was among the first investors to recognize THENA.
In late 2023, Orbs invested $600,000 in the DeFi protocol, providing the necessary capital to build its roadmap. The investment gave THENA the financial resources it needed and provided the platform access to Orbs’ technical expertise and marketing support. Interestingly, the infrastructure provider has kept supporting the protocol to date.
Meanwhile, THENA’s native token, THE, has seen fluctuations lately. However, following recent investment news, its price surged nearly 16%. According to the aggregator platform CoinMarketCAp, it is priced at $1.63 and has a 24-hour trading volume of $110.04 million.
