Binance Labs and THENA join forces to advance the BNB Chain ecosystem

THENA receives strategic investment from Binance Labs to support DeFi innovation.

THENA (THE), a decentralized clearing and liquidity mechanism on the BNB Chain, has received investment from Binance Labs, the venture financing and incubation arm of Binance.

Launched in January 2023, THE adopts the innovative and(3,3) tokenomics model, which is a blend of decentralized management and liquidity staking. This tokenomics model compensates token holders for their commitment and participation in platform choices by locking their tokens for a predetermined period of time. The concept rewards users and associates them with the success of the protocol; this promotes sustainability and long-term support.

“THENA’s approach to liquidity and focus on user experience positions them as a key player in the next wave of DeFi growth,” said Alex Odagiu, Chief Investment Officer at Binance Labs.

THE CEO and co-founder Theseus called the partnership with Binance Labs a “pivotal moment” for the platform’s growth. He highlighted the strategic advantage of Binance Labs’ support and expressed excitement for THE’s next chapter.

In 2024, Binance Labs actively supported several notable projects, including Kernel, which raised $10 million, and StakeStone, which raised $22 million. Its latest investment in THENA aligns with its mission to foster innovation and scalability in the blockchain ecosystem.

THE token is currently trading at $1.68, with a market cap of $91.3 million and a fully diluted valuation of $394 million. Reflecting active market participation, 24-hour trading volume was $120.1 million and Total Value Locked (TVL) was $54.1 million.

1D graphic | Source: CoinMarketCap

Reaching an all-time high of $4.03 in November 2024, THE demonstrated significant potential despite current prices reflecting a 59.6% decline from these peak levels. The token has seen a rapid recovery since its all-time low of $0.0572 in September 2023, representing an increase of over 2,748%.

With the strategic support of Binance Labs, THE is well positioned to advance its goal of encouraging the adoption of decentralized finance. Its emphasis on innovation, scalability and user-centric solutions allows it to maintain its position as the leading decentralized exchange and liquidity protocol and opens the door to further expansion in the DeFi ecosystem.