Ankr Secures Significant Strategic Investment by Binance Labs

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Ankr Secures Significant Strategic Investment by Binance Labs
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Binance Labs is Binance’s venture capital arm and accelerator, and Ankr, one of the world’s top suppliers of Web3 infrastructure, is excited to announce that it has obtained a significant investment from Binance Labs.

Ankr plans to invest the funds into expanding its Web3 developer suite, which currently consists of a Liquid Staking SDK, Web3 Gaming SDK, and App Chains as a Service, in addition to strengthening its market-leading RPC service. So far, Ankr Protocol has hosted RPCs for 18 blockchains and responded to an average of over 7 billion blockchain requests each day.

Ankr’s major open-source contributions to the BNB Chain, BNB Liquid Staking, and its ongoing support of the ecosystem led to a strategic investment from Binance Labs. The improvements to the network that Ankr implemented will be very useful to all BNB Chain projects and users. The widespread use of Web3 would be hastened by a more rapid and effective BNB Chain.

Ryan Fang, the Chief Operating Officer at Ankr stated:

“We are very excited to count Binance Labs as a strategic investor. BNB Chain is by far the chain with the highest number of daily transactions and active users. We are committed to support BNB Chain further scale, enhance BNB token utility by enabling DeFi composability using BNB Liquid Staking, and expand Binance Application Sidechain (BAS) ecosystem to enable innovative use cases requiring a highly scalable infrastructure, and other innovative infrastructure services opening the gates to permissioned sidechains.”

Ankr developed the foundational elements of the BNB Chain, such as the BNB Application Sidechain (BAS) and the newest upgrades to Erigon and the Archive Node. The Erigon enhancement halved the needed storage space by half and multiplied the speed of RPC requests by ten.

BNB Liquid Staking, which adds DeFi compatibility to staked BNB, was another feature that bolstered the BNB Chain ecosystem. Using Liquid Staking, BNB token holders may profit in DeFi via a variety of techniques, including staking, farming, lending, contributing to vaults, and more.

The use of Dapps, wallets and crypto games is made feasible by Ankr, a service that operates invisibly in the background to establish connections between these applications and the blockchains they need. Ankr is like the city’s utility service that supplies electricity to all the buildings that make up the Web3 ecosystem and the Dapps that run on it.

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