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Binance Labs invested in Symbiosis Finance crosschain swap protocol

Binance Labs invested in Symbiosis Finance crosschain swap protocol

The venture capital arm of bitcoin exchange Binance has made a strategic investment of an unnamed amount in multichain liquidity protocol Symbiosis Finance. Representatives from the project told ForkLog;

Symbiosis Finance is using the funds to expand its team amid the launch of its core network and the addition of more blockchains, including Solana, Terra, Polkadot and Cardano. Integration with various wallets, services and decentralized applications is also planned.

The Symbiosis Finance project allows exchanging tokens between major native DeFi networks, such as Ethereum, Binance Smart Chain, Polygon, Avalanche, as well as EVM-compatible networks and L2 solutions;

According to the roadmap, Symbiosis v.2 will feature sidechain, crosschain farming, intelligent order routing and unified AMM pools;

As a reminder, Symbiosis Finance completed a $2 million seed funding round led by Blockchain.com Ventures in October 2021. Wave Financial, BTC Inc, KuCoin Labs, Injective Labs, DAO Maker, Primitive Ventures, Kairon Labs, Gate.io and Avalanche also participated in the investment round.

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