Ambit Finance is all set to empower users of the BNB Chain with novel use cases, presenting them with a yield-generating stablecoin based on BUSD. This strategic move will empower users with a sustainable yield even amidst fluctuating market conditions. With a multi-phased roadmap at its core, Ambit aims to introduce a comprehensive DeFi Superapp, seamlessly integrating existing DeFi functionalities such as “collateralized lending” while innovating in areas like “under-collateralized margin lending” and crafting specialized solutions tailored for financial institutions. Sphere CM, the Co-Founder and CEO of Ambit Finance, weighed in on this pivotal moment: “Our team at Ambit brings an unparalleled wealth of experience in scaling mass-adoption protocols. Building upon the lessons we’ve gathered over the past year, we are rooted in principles of security and sustainability. This partnership with BNB Chain cements Ambit’s role as a cornerstone in the ecosystem’s on-chain strategy. Together, alongside Binance’s prestigious reputation and market influence, we are poised to become a magnet for pioneering financial institutions venturing into the dynamic realm of cryptocurrencies.”
Ambit Finance is a DeFi platform on BNB Chain for scaling $BUSD stablecoin. The project has raised $4.5M investment from Binance Labs. Here’s what they wrote in their tweet “In a significant development today, on December 2nd, leading cryptocurrency exchange Binance made an announcement outlining their strategic decision to invest up to $4.5 million in Ambit Finance. The investment initiative will be carried out via Binance Labs, the venture capital arm of Binance renowned for its strategic investments.”
📌 As we know in August 2023 ambit finance launched its testnet in which everyone could participate. It was a truly massive event that brought a lot of excitement to the project. In the ambitfinance test network, users could try out different features such as adding different tokens to their portfolio, making deposits and more.
But just this week, the secret chatroom received information from the project administrators about the ambit token on the test network!
This message has caused a stir among the users of Ambit and it probably means the imminent release of Ambit to the Mainnet. Users have been waiting for this event since the beginning of September and we hope it will happen soon.
