BingX Labs, the innovation arm of crypto exchange BingX, has invested $10 million in StakeStone to support the development of omnichain liquidity staking and StakingFi applications.
The partnership aims to improve liquidity infrastructure, optimize capital efficiency, and expand cross-chain asset protocols in decentralized finance.
DeFi refers to financial services built on blockchain networks, allowing users to lend, borrow, and trade assets without traditional banks. Liquidity staking lets crypto holders earn rewards by locking up assets to help secure a network. Omnichain liquidity staking takes this further by enabling staking across multiple blockchain networks, making it more efficient.
The collaboration will focus on three key areas:
- Enhancing Liquidity Infrastructure: Improving the systems that allow seamless movement of assets between different blockchains.
- Optimizing Capital Efficiency: Ensuring that staked assets generate maximum returns.
- Expanding Cross-Chain Asset Protocols: Developing new methods to facilitate asset transfers between blockchain networks.
Liquidity Staking Derivatives, which allow users to stake assets while still maintaining access to liquidity, have gained popularity as investors seek more flexible income solutions. StakingFi, a new category within DeFi, builds on staking by creating additional financial tools that improve capital utilization.
Vivien Lin, Head of BingX Labs, called StakeStone’s omnichain staking technology a “leap forward” for StakingFi applications.
Initially, the funding will support StakeStone’s ecosystem development, product integration, and research into new staking use cases. The partnership also aims to promote blockchain education and offer incentives to grow the StakingFi community.
