Binance Labs Invests in Rango: A Cross-Chain DEX and Bridge Aggregator
Binance Labs Invests in Rango, a Cross-Chain DEX and Bridge Aggregator
In a strategic move to bolster cross-chain development and innovation, Binance Labs has made a significant investment in Rango, a cross-chain decentralized exchange (DEX) and bridge aggregator. The terms of the investment, including its size, have not been disclosed by either party.
Rango plays a crucial role in facilitating transactions across various blockchain ecosystems, which is essential for the growth of decentralized finance (DeFi). The platform supports major blockchains such as Bitcoin (BTC), Solana (SOL), Tron (TRX), the Cosmos Ecosystem, Starknet (STRK), and more. This comprehensive backing is vital for multi-chain wallets that require reliable cross-chain functionality.
Access to Rango is available through popular wallets and decentralized applications (dApps) like Trust Wallet, Exodus, Binance Web3 Wallet, and Compound. Currently, Rango supports over 60 blockchains, more than 70 DEXes, and over 20 bridges, with a transaction volume exceeding $3 billion.
Since its inception, Rango has processed over 2.5 million swaps for 590,000 unique wallets and manages more than 3,000 organic cross-chain swaps daily. With over 2 million daily swap quotes, Rango ensures rapid response times for its growing user base.
The recent investment by Binance has sparked speculation about a possible airdrop and a token generation event (TGE). Rango has allocated 5% of the RANGO token supply for the airdrop, increasing community anticipation.
This investment comes on the heels of Binance Labs’ involvement with Zircuit, a layer-2 network that combines zero-knowledge rollups with artificial intelligence (AI) to enhance security. With recent attacks on the Ethereum blockchain leading to significant financial losses, the need for improved security measures is more critical than ever. Zircuit aims to address these issues as it approaches its mainnet launch this summer, with over $3.39 billion in staked assets.
Overall, the partnership between Binance Labs and Rango signifies a significant step forward in the development of cross-chain solutions and security measures within the blockchain ecosystem.