Binance Labs unveils four Web3 projects in Season 7 Incubation Program.
New cohort includes DeFi liquidity hub, chain abstraction, data network, and Ethereum protocol.
Binance Labs continues to drive Web3 innovation and blockchain development.
Binance Labs, the venture capital and incubation arm of Binance, has unveiled the first batch of projects selected for Season 7 of its Incubation Program. The four innovative Web3 projects chosen are AstherusHub, Cycle Network, Dill, and Eigen Explorer.
We’re thrilled to unveil the first batch of projects that we admitted into Season 7 Incubation@AstherusHub@cyclenetwork_GO@dill_xyz_@EigenExplorerNote: Incubation admission isn’t the same as Labs investments.Learn more about the projects (listed alphabetically) below 👇
— Binance Labs Fund (@BinanceLabs) July 30, 2024
The Binance Labs Incubation Program is designed to support early-stage Web3 projects, offering them access to resources, mentorship, and exposure to build innovative blockchain projects across the Binance ecosystem. However, this initiative is distinct from Binance Labs investments, as incubation admission focuses on nurturing projects from their inception.
First on the list is AstherusHub, a comprehensive liquidity hub for staked assets. It provides liquidity for liquid staking tokens (LSTs) and liquid restaking tokens (LRTs), offering a seamless experience for users keen to maximize the utility of their staked assets. By streamlining liquidity processes, AstherusHub aims to become a leading player in the DeFi ecosystem.
Cycle Network offers a universal, secure, and verifiable chain abstraction. This project introduces a bridgeless aggregate liquidity network that integrates seamlessly across all blockchain domains, including L1s, L2s, EVMs, and non-EVMs. Cycle Network aims to solve the fragmentation issue plaguing blockchain liquidity, by enhancing interoperability and security throughout multiple chains.
Dill emerges as the most scalable data availability network in the Web3 space. It is fully compatible with the Danksharding roadmap, ensuring efficient and scalable data distribution. Dill’s technology addresses critical challenges in data availability, making it a key infrastructure component for future blockchain applications.
Lastly, Eigen Explorer, the first native DeFi protocol on the EigenLayer platform, aims to leverage the Ethereum protocol’s unique capabilities to provide innovative financial products that are both secure and efficient, driving the next wave of DeFi innovation.
Looking ahead, the Binance Labs Incubation Program continues to be a key driver of innovation in the Web3 space. By supporting projects like AstherusHub, Cycle Network, Dill, and Eigen Explorer, Binance Labs is paving the way for groundbreaking technologies that will shape the future of decentralized finance and blockchain.
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