Infrared, the pioneering proof of liquidity (PoL) staking protocol on Berachain, has successfully secured $14 million in a Series A funding round led by Framework Ventures. This impressive investment brings the total funds raised by the project to $18.75 million, following an earlier strategic round of $2.25 million led by Binance Labs, along with a seed round that raised $2.5 million.
Berachain, known for its unique layer-1 blockchain capabilities, transitioned to its mainnet on February 6, 2023. The launch included a significant airdrop of its native token to users of both the ecosystem and various exchanges, enabling broader participation and engagement within its community. What sets Berachain apart from other blockchains is its innovative proof-of-liquidity consensus mechanism, designed to incentivize both users and protocols to contribute liquidity, thereby enhancing the overall efficiency of the network.
As one of the first projects to leverage this groundbreaking mechanism, Infrared offers liquid staking solutions for Berachain’s native tokens, BGT and BERA. By staking these tokens, users are eligible to receive validator rewards, and in return, they will obtain iBERA, a liquid staked token that can be utilized to generate additional yield across other decentralized finance (DeFi) protocols.
Furthermore, Infrared is also distinguished as the first initiative to benefit from the Berachain Foundation’s incubator, aptly named ‘Build a Bera.’ This incubator was announced earlier in January, with a call for start-ups to collaborate and innovate within the thriving Berachain ecosystem.
Michael Anderson, co-founder of Framework Ventures, remarked, “We believe Infrared’s protocol will unlock significant amounts of productive capital within the wider Berachain ecosystem, while maximizing efficiency and yield. This frees builders on Berachain’s framework to innovate in new ways.” This sentiment epitomizes the exciting potential that Infrared brings not only to Berachain but also to the broader landscape of blockchain technology and decentralized finance.
