Binance’s venture capital arm, Binance Labs, announced a strategic investment in Web3 infrastructure provider Ankr.
This investment will be used to accelerate Ankr’s work on its remote procedure call (DPC) service and build its Web3 developer package. Ankr was previously an open source contributor to BNB and BNB Liquid Stake. He also contributed to the creation of the core infrastructure of BNB Chain. In addition to all this, Ankr has further enhanced the BNB ecosystem by implementing the latest BNB Application Sidechain (BAS) scalability solution alongside Erigon and Archive Node upgrades. The Erigon upgrade helped BNB Chain reduce its storage requirements by 75 percent. It has improved RPC performance ten times and made the sync process 100 times faster.
Binance Labs Announces Ankr Investment
Ankr also contributed to the BNB Chain ecosystem by bringing DeFi composability to BNB Liquid Stake. However, BNB token holders can also stake, farm and participate in coffers at the same time. Apart from that, they can also participate in new staking schemes to earn reward tiers on both the BNB chain and Ethereum-based decentralized exchanges.
Regarding Binance Labs’ investment in Ankr, Ankr’s co-founder Ryan Fang also said:
As a strategic investor, we are very excited to have Binance Labs. BNB Chain is the chain with the highest amount of daily transactions and active users to date. We are committed to helping BNB Chain further scale, develop the BNB token utility, and expand the Binance Application Sidechain (BAS) ecosystem. We aim to support not only innovative use cases that require a highly scalable infrastructure, but also infrastructure services that can contribute to the creation of permissive sidechains.
Ankr’s developer package includes Multi-Chain Liquid Staking software development kit (SDK), Web3 games SDK and application chains as a service. It also supports Web3 projects and DApps. The Ankr protocol currently serves an average of 250 billion RPC requests across 50 blockchain networks.
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