THENA, a decentralized exchange and liquidity mechanism on the BNB Chain, announced today that it has raised a strategic investment by Binance Labs, the venture financing and incubator arm of Binance.
The launch of THENA represents a major moment in the history of THENA, which has just kicked off in January 2023 with the intent to inject innovation and scalability into the DeFi ecosystem.
By utilizing the pioneering ve(3,3) tokenomics model, which blends pooled liquidity staking with decentralized governance, the THENA operation works. This model therefore encourages token holders to lock up their assets for certain periods of time and rewards their commitment tied to the success of the platform. It is also an attention grabber because it emphasises sustainability and long-term user engagement.
Binance Labs Backs THENA for DeFi Growth
Investment Director for Binance Labs Alex Odagiu said: “THENA’s focus on user experience and their approach to liquidity positions them as a key player in the next wave of DeFi growth.”
For the platform, THENA CEO and co-founder Theseus described the investment as a ‘pivotal moment’ for the platform. Binance Labs is strategically important, he said, willing to take advantage of this partnership for THENA development and adoption.
Starting in 2024, Binance Labs has been investing in many promising blockchain projects. It also backed Kernel, which raised $10 million, and StakeStone, which got $22 million. Binance Labs invests in THENA to further support innovation and grow the capabilities of decentralized tech.
THENA’s native token THE is trading at $1.68, market cap $91.3M, and fully diluted valuation $394M. The 24-hour trading volume of $120.1 million is quite robust. Total value locked on the platform currently rests at $54.1 million and remains a strong indication of user participation.
In November 2024, THE hit an all-time high of $4.03 but is now down 59.6% from that level. Still, the token has seen a strong rally, surging by more than 2,748 percent after hitting its all-time low of $0.0572 in September 2023.
THENA’s role as a leading decentralized type of exchange and liquidity protocol will be enlarged by then with the support of Binance Labs. To continue to advance the widespread adoption of DeFi, the platform has a unique ability to serve as a user-centric solution, to scale with demand, and to innovate as blockchain technology grows.
THENA’s recent partnership with Binance Labs is a strong endorsement of THENA’s ability to make high-impact contributions to the blockchain ecosystem as the DeFi sector matures.
