Long Beach (CoinChapter): PAID Network announced that it has received an investment from Binance’s $100 Million DeFi Accelerator Fund. PAID will use the network to boost the Binance Smart Chain ecosystem by growing its operations and new development.
PAID promised to announce new details on how they will integrate with Binance Smart Chain soon. They added that they also plan to share what implications this integration will have on PAID’s dApp and Ignition.
Ignition is PAID’s decentralized swaps platform focused on launching Initial Dex Offerings (IDOs) for tier 1 projects. They believe this fund will improve their technology and user experience. CEO Kyle Chasse spoke on the investment his company received from Binance.
“It’s humbling to receive support from a company as experienced and successful as Binance,” Chasse said. “I’m extremely proud of our team and community for their work that led to Binance’s confidence in our project, and their decision to invest in PAID. All I can say is thank you for all your help and support.”
Chasse continued, “Binance’s investment in PAID will enable us to further streamline our development, cut transaction costs, and accelerate the speed with which both PAID’s dApp and Ignition function. I believe together we will truly change the world.”
In their announcement, PAID called their upcoming plans ‘phenomenal’ and includes a number of projects scheduled for incubation and launches on Ignition. They added that they are making major progress on their dApp as well as expanding from their current development on Ethereum. Additionally, they have begun adding the development into Binance Smart Chain and Polkadot.
Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. It is designed to run in parallel with Binance Chain and retains its fast execution times and low transaction fees. All this while adding Smart Contracts functionality to support compatible dApps.
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