The world’s largest crypto exchange platform is adding support for new liquidity infrastructure projects and surges native assets.
In a new announcement, Binance said it deployed support for the distributed omnichan protocol Stakestone (STO) on May 2.
“Binance is excited to announce the 17th project on the Hodler Airdrops page. Stakestone is a decentralized omnichine liquidity infrastructure protocol designed to be liquidity acquired, distributed and utilized.”
The Hodler Airdrops program, launched in June 2024, rewards those who hold Binance’s native assets BNB in Crypto, based on previous snapshots of balance.
Additional news has caused the STO to explode. This peaked at $0.204 just hours after the lowest on May 2nd, from $0.118. Digital assets have since been receding, trading at $0.197 at the time of writing, an increase of 64.3% over the past 24 hours.
The project’s white paper states that it aims to solve the problem of liquidity fragmentation within the digital asset industry.
“Fragmentation of liquidity between the various chains and protocols across the blockchain ecosystem brings trapped capital to billions of dollars, misses yield opportunities, reducing value creation and ecosystem growth.
Users face complex workflows and high costs when moving assets across chains, but the protocol struggles to maintain a deep liquidity pool.
Stakestone serves as the underlying infrastructure layer that enables efficient liquidity distribution across the blockchain ecosystem. By providing a standardized framework for cross-chain liquidity management, Stakestone enables both established and emerging networks to efficiently access and deploy capital. ”
The STO was also part of Binance Alpha, a wallet feature that began in December 2024. At the time, Crypto Exchange said it was “a new platform within Binance Wallet that lit up the spotlight on early-stage crypto projects that could grow within the Web3 ecosystem.”
Generated Image: Midjourney
