Ambit Finance is a new generation, new breed of DeFi apps, powered by an experienced team with a diverse background, which includes former Anchor Protocol leadership. The project relies on the support of both old and new protocol communities, building its cutting-edge protocol with an emphasis on security and sustainability as well as incentivizing loyal community members. The investment from Binance Labs is expected to provide Ambit with the resources it needs to accelerate the development of trustless DeFi within the BNB Chain ecosystem.
One of the main goals of the Binance Labs investment is to enable new use cases for BNB Chain users with the creation of a yield-bearing BUSD-based stablecoin designed to provide sustainable yield throughout all market conditions. BUSD, issued by Paxos, is regulated by the New York State Department of Financial Services (NYDFS) and offers a transparent product that verifies, protects, and ensures the reserves, efficiently maintaining the stablecoin’s US dollar peg. Ambit’s multi-phased roadmap will also see it deliver a DeFi Superapp incorporating both existing DeFi functionalities like collateralized lending and innovative solutions for domains like under-collateralized margin lending and structured products for financial institutions.
With the collaboration between Binance Labs and Ambit Finance, the DeFi ecosystem on the BNB Chain is expected to grow and expand, ultimately benefiting the entire crypto industry. The deal will also see Binance Labs and Ambit collaborate on launching future DeFi apps with a focus on innovation, security, and risk control, and partner with projects within the BNB Chain ecosystem and beyond.
