September 03, 2024
Kinza Finance, a DeFi protocol supported by Binance Labs, has partnered with Babylon Protocol to boost liquidity for new BTC liquid restaking tokens (LRTs). After raising $80 million in a funding round led by Mirana, Emirates Consortium, and GTS Ventures, Kinza Finance introduced its own liquid restaking token, kBTC, and will support all BTC LRTs through its money market. Utilizing Babylon’s Bitcoin staking protocol, Kinza Finance provides Bitcoin holders with new yield opportunities through staking rewards and access to DeFi via its lending platform.
Project | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|
Kinza Finance | September 3, 2024 | Mirana, Emirates Consortium, and GTS Ventures | DeFi, Restaking |
Kinza’s Bitcoin staking offers an easy entry point for Bitcoin holders into the DeFi space while maintaining liquidity. Users can stake BTC on Kinza and receive kBTC, a multichain asset distributed 1:1 on their preferred network. With BTC securely staked and earning rewards, including PoS validator incentives, kBTC can be used for lending, borrowing, and other DeFi activities on the Kinza platform. As LRT projects continue to develop across chains, Kinza Lending is becoming essential infrastructure in DeFi, serving as a sustainable liquidity hub for these innovative assets.
With its strong ecosystem supporting Liquid Staking tokens across chains, Kinza is establishing itself as a leader in Bitcoin staking and a key contributor to DeFi innovation and security in the decentralized economy.
About Kinza Finance
Kinza Finance is a decentralized lending platform that allows users to lend and borrow cryptocurrencies securely. It focuses on Bitcoin staking, enabling users to stake their BTC and receive kBTC, a multichain asset. This platform offers new yield opportunities and supports various DeFi activities like lending and borrowing. Kinza Finance aims to enhance liquidity and security in the DeFi space.
Website: https://kinza.finance/
About Investor
Mirana, Emirates Consortium, and GTS Ventures.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers
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