Juggernaut, an NFT DeFi protocol secured an undisclosed amount of investment from the $100M fund accelerator set up by Binance. This fund supports upcoming projects built on the Binance Smart Chain network.
To empower upcoming projects and bridge the gap between centralized finance (CeFi) and decentralized finance (DeFi), the $100M seed fund was established by Binance. The fund was set up to support the entire DeFi ecosystem. Many DeFi projects built on the Binance Smart Chain (BSC) network have already benefited from this funding, and the latest to partake is Juggernaut. In this article, we will discuss Juggernaut’s new investment from Binance’s seed fund.
What is Juggernaut?
Juggernaut (JGN) is a complete custom DeFi synthetics suite, governance, and Non-fungible token (NFT) ecosystem with full BSC compatibility. The goal of the DeFi protocol is to offer the best NFT exchange on the BSC. With Ethereum’s troubles, the BSC has attracted a lot of interest, particularly from the NFT community. That said, many have looked for ways to trade NFTs on BSC. Juggernaut stepped in by creating a long-term solution to this problem. The protocol created its state-of-the-art unique platform jgnnft.com for NFT followers of the BSC community to trade NFTs.
JGN gives its users various games and collections to choose from while also offering NFT and unique DeFi infrastructure. The platform is also looking to add more NFT innovations. Presently, Juggernaut is looking to strengthen the possibilities of combining DeFi and NFTs to better user experience.
Juggernaut Secures Investment from Binance
The DeFi synthetic suite has secured an undisclosed amount of investment from Binance’s investment fund. Since its inception, the platform has recorded massive growth following the increased adoption of NFTs and DeFi. The DeFi protocol has continued its development and has continued to move most of its focus to BSC. Also, JGN has launched its NFT exchange on the BSC, including a decentralized minting function added next week. With the new investment, it will keep innovating its NFT ecosystem on the BSC network.
BSC the Center of Attraction
With the adoption of DeFi in the digital market space, the interest in BSC has increased significantly. There is no surprise as to why BSC’s features attract many projects. BSC offers many unique features like DeFi interoperability through cross-chain mechanisms, cheap transaction fees, quality network performance, a thriving ecosystem, and more to help facilitate optimized NFT trading and DeFi staking opportunities.
Many DeFi protocols are now using BSC. Significant projects have left the Ethereum network favoring cheaper and faster transactions, and it is not looking like BSC adoption will slow anytime soon.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.