Main Takeaways:
- Binance Labs has invested in Quine Co., the core contributor behind Perena, the first stablecoin infrastructure protocol on Solana.
- Binance Labs remains committed to providing evergreen support for early-stage projects that are driving the growth of the Web3 ecosystem.
Binance Labs has invested in Quine Co., the core contributor behind Perena, a leading stablecoin infrastructure protocol. Perena's mission is to create a more decentralized, efficient, and accessible financial system by combining the best of DeFi innovation with traditional financial principles.
Built natively on Solana, Perena leverages advanced financial engineering to bridge traditional banking efficiency with decentralized finance. By transforming stableswaps into liquid synthetic dollars, Perena aims to eliminate stablecoin ecosystem fragmentation and spread out issuance risk. The platform enables users to mint stablecoins, gain exposure to tokenized real-world asset (RWA) yield, and access custom risk-reward profiles via a tranched collateralized debt position (CDP) system. This foundational layer for on-chain money is set to unlock capital efficiency and drive the next generation of DeFi and PayFi applications.
Perena recently launched Numéraire, the first weighted multi-token extensible stableswap that doesn't require active concentrated liquidity market maker (CLMM) management, significantly lowering capital requirements for new stablecoin launches.
Binance Labs' investment in Perena's pre-seed round will help the team expand, grow its global community by engaging builders and educators, and build a comprehensive stablecoin product suite on Solana.
"Binance Labs remains committed to providing evergreen support for early-stage projects that are driving the growth of the Web3 ecosystem. We are excited to back Perena at the very early stages of their journey and assist them in their mission to onboard the next wave of stablecoin users on Solana," said Max Coniglio, Investment Director, Binance Labs.
"We are deeply honored to have Binance Labs as our investor and partner. Their support for our mission to build a robust financial system on-chain brings us one step closer to realizing our vision of pushing the cutting edge of finance," said Anna, Founder, Perena.
###
About Binance Labs
Binance Labs is the leading venture capital and incubator committed to empowering early-stage projects and driving the growth and development of the Web3 ecosystem. Since our founding in 2018, we have consistently focused on the long-term, and provided strategic support and funding to projects, regardless of market cycles.
As a chain- and sector-agnostic venture capital leader in the Web3 space, we back everything from infrastructure to application layers, and our focus has consistently been on tech innovation with meaningful product-market fit and sustainable revenue models.
Binance Labs' portfolio covers over 250 projects from over 25 countries across six continents. More than 65 of Binance Labs' portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X.
About Perena
Perena is the first money infrastructure protocol on Solana. They aim to revolutionize the digital asset landscape by merging traditional financial principles with cutting-edge DeFi innovations. Their mission is to make stablecoins more usable, liquid and rewarding for mass adoption on Solana. Their stableswap product, Numéraire, is an automated-market maker decentralized exchange that rewards liquidity providers and increases diversification.
For more information, follow Perena on X.
Disclaimer: The information provided in this article is intended for informational purposes only and does not constitute investment advice, endorsement, analysis, or recommendations with respect to any financial instruments, investments, or issuers. This article may contain forward-looking statements which are by nature subject to risks and uncertainties. Investment in cryptocurrency and DeFi projects involves substantial risk, including the risk of complete loss. This article does not take into account the investment objectives, financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decisions.