Binance Labs invests in cross-chain swap protocol Symbiosis Finance

Binance’s venture arm has made strategic investments of an undisclosed amount in the multichain liquidity protocol Symbiosis Finance, according to project representatives contacted by ForkLog.

Symbiosis Finance is using the funds to expand its team amid the mainnet launch and to onboard a growing number of blockchains, including Solana, Terra, Polkadot and Cardano. The project also plans integrations with various wallets, services and decentralised applications.

The Symbiosis Finance project enables token swaps across major native DeFi networks such as Ethereum, Binance Smart Chain, Polygon, Avalanche, as well as across EVM-compatible networks and Layer 2 solutions.

According to the roadmap, in the second version of the Symbiosis protocol v.2, sidechains, cross-chain farming, intelligent order routing, and unified AMM-pools will be implemented.

Back in October 2021, Symbiosis Finance completed its seed round financing in the amount of $2 million, led by Blockchain.com Ventures. The funding round also included Wave Financial, BTC Inc, KuCoin Labs, Injective Labs, DAO Maker, Primitive Ventures, Kairon Labs, Gate.io and Avalanche.

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