Infrared Protocol has secured funding from Binance Labs to expand its team and conduct audits, marking a significant milestone in its development. The amount remains undisclosed, but the funds will support hiring and audits as the protocol prepares to launch in the Berachain V2 testnet.
Currently, Infrared has eight employees and plans to hire three more. This growth is essential for its upcoming testnet phase, where user feedback will be crucial. In January 2024, Infrared raised $2.5 million, laying a strong foundation for these advancements.
Infrared plans to introduce its own token, IRED, integrating further into the crypto ecosystem. This protocol offers enhanced flexibility and efficiency for crypto holders, setting new standards in staking and decentralized finance. The strategic funding from Binance Labs underscores Infrared’s potential in the evolving cryptocurrency landscape.
