THENA secures strategic investments from Binance Labs to drive DeFi innovation.
THENA (THE), a decentralized exchange and liquidity mechanism on the BNB chain, has done just that secured investment from Binance Labs, the venture finance and incubator arm of Binance.
THE was launched in January 2023 and uses the innovative ve(3,3) tokenomics model, which is a mix of decentralized governance and liquidity deployment. This tokenomics model compensates token holders for their dedication and involvement in platform choices by locking their tokens for a predetermined amount of time. The concept rewards users and links them to the success of the protocol, encouraging long-term sustainability and support.
“THENA’s approach to liquidity and their focus on user experience positions them as a key player in the next wave of DeFi growth,” said Alex Odagiu, Investment Director at Binance Labs.
Theseus, CEO and co-founder of THE, described the partnership with Binance Labs as a “pivotal moment” for the platform’s growth. He highlighted the strategic benefit of Binance Labs’ support and expressed his enthusiasm for THE’s next chapter.
In 2024, Binance Labs has actively supported several notable projects including Kernelwhich raised $10 million, and StakeStone, which raised $22 million. The latest investment in THENA is in line with its mission to promote innovation and scalability in the blockchain ecosystem.
THE token is currently trading at $1.68, with a market cap of $91.3 million and a fully diluted valuation of $394 million. The 24-hour trading volume is $120.1 million, reflecting active market participation, while the Total Value Locked (TVL) is $54.1 million.
Hitting an all-time high of $4.03 in November 2024, THE has shown significant potential, even if current prices reflect a 59.6% decline from those peak levels. The token has seen a rapid recovery since its all-time low of $0.0572 in September 2023, marking an increase of over 2,748%.
With the strategic support of Binance Labs, THE is well positioned to achieve its goal of promoting the adoption of decentralized finance. The emphasis on innovation, scalability and user-centric solutions allows the company to maintain its position as a leading decentralized exchange and liquidity protocol and opens the door for further expansion within the DeFi ecosystem.
