Infrared Raises $14 Million in Series A for Liquidity Staking on Berachain
Infrared, a proof of liquidity (PoL) staking protocol on Berachain, has raised $14 million in a Series A funding round led by Framework Ventures. This brings the total funding to $18.75 million, including a previous $2.25 million strategic round from Binance Labs and a $2.5 million seed round.
Berachain is a layer-1 blockchain that launched its mainnet on February 6, distributing tokens to users. It utilizes a proof-of-liquidity consensus mechanism for rewarding liquidity providers.
Infrared offers liquid staking solutions for Berachain's native BGT and BERA tokens. Users who stake these tokens earn iBERA, a liquid staked token that can generate additional yield in other DeFi protocols.
Infrared is also the first project supported by the 'Build a Bera' incubator from the Berachain Foundation, which began seeking start-ups in January.
Framework Ventures co-founder Michael Anderson stated that Infrared’s protocol aims to unlock significant productive capital within the Berachain ecosystem while maximizing efficiency and yield.