Binance Labs, the venture capital and incubation arm of Binance, has announced a strategic investment in Rango Exchange. This investment aims to enhance Rango's capabilities, fostering growth in decentralized finance (DeFi).

What is Rango? Let's find out…

What is Rango Exchange?

Rango Exchange stands out as a multi-chain platform for DEX and bridge aggregation. 

Rango aims to become the most powerful multi-chain platform for DEX and bridge aggregation. Rango's approach allows users to swap tokens across different blockchains without needing multiple services with different interfaces.

It simplifies transactions across different blockchain ecosystems, providing users with seamless on-chain and cross-chain swaps. Rango supports major blockchains, including Bitcoin (BTC), Solana, Tron, Cosmos Ecosystem, and Starknet.

Key Features of Rango Exchange

• Interoperability: Rango enables transactions between various blockchain networks, supporting over 55 blockchains, 100 DEXes, 22 bridges, and 24 different wallets.

   

• Integration with Wallets and Dapps: The platform is integrated with leading wallets and decentralized applications (Dapps) such as TrustWallet, Exodus, Binance Web3 Wallet, and Compound.

   

• Security: Rango reportedly ensures secure transactions by aggregating all available bridges and DEXs to find the most efficient, safe, and cost-effective routes for swapping tokens.

Rango's Token: $RANGO

The $RANGO token is the native governance token of Rango Exchange. It can be used for governance, incentivizing growth, and rewarding early supporters. Key aspects of the $RANGO token include:

• Governance: $RANGO holders can create polls and vote on project developments.

   

• Incentives: The token incentivizes usage and growth, rewarding early supporters.

   

• Buyback and Distribution: Trading fees will be used to buy back and distribute to stakers (80%) and fill the treasury (20%). The treasury acts as insurance to improve trust and cover potential losses.

   

• Gas Payments: Users can use $RANGO to pay for gas on requested chains, simplifying the process and benefiting the entire crypto ecosystem.

Token Distribution

Rango has a maximum token supply of 100 million, distributed as follows:

• Team: 20% (vested over one year)

• Private Investors: 15% (similar vesting as the team)

• IDO Participants: 10% (no or short vesting period)

• Advisors: Up to 1% (case by case)

• Airdrops: 5% (distributed in the first year)

• Liquidity Providers: 10% (rewarded over two years)

• Community Funds and Growth Incentives: 39% (decided by governance)

Strategic Investment by Binance Labs

Binance Labs' investment in Rango Exchange is significant for several reasons:

Enhancing Capabilities: The investment will help Rango improve its capabilities for easy transactions across multiple blockchain ecosystems.

Fueling DeFi Growth: By supporting Rango, Binance Labs aims to boost the growth of DeFi, making cross-chain transactions more accessible and efficient.

Leading Solution for Multi-Chain Wallets: Rango's broad interoperability positions it as a leading solution for multi-chain wallets seeking reliable cross-chain functionality.

“Rango’s suite of services aligns with Binance Labs’ goal of supporting projects that bolster cross-chain development and innovation. We look forward to seeing Rango’s journey as it continues to shape the DeFi space,” said Yi He, co-founder of Binance and Head of Binance Labs.