Author: Zen, PANews
On March 8, the 2-month sixth phase of the Binance Incubator officially ended. This phase started in December last year. A total of "hundreds" of applications were received, and 12 startups were finally selected, accounting for about 10% of the applications. 3% of those. During this process, Binance Labs invested in 7 of the best-performing projects, covering DeFi, infrastructure and artificial intelligence-driven DApps.
Derivation
Derivio is a structured derivatives ecosystem that offers synthetic derivatives that provide traders with granular risk-adjusted returns through smart leverage, while providing cryptocurrency operators with liquidity pools deep enough for effective hedging. Last November, Derivio launched its mainnet on the zkSync Era. Derivio’s DRV token has not yet undergone a TGE, and its token economics have not yet been made public.
Derivio will offer two main tools from launch. The first is called digital options, and Derivio can provide digital options for any price information. This means tokens, RWA, and even block space can all be speculated through Derivio’s digital options; the other main product is perpetual contracts. Trading of perpetual contracts and options will be supported by a liquidity pool containing all supported assets. Any two assets in the liquidity pool can be used to form a perpetual futures market, enabling so-called pairs trading.
Athena
Ethena is a decentralized stablecoin protocol based on Ethereum. Ethena Labs, the developer behind it, has raised US$20.5 million in two rounds of financing, with a post-money valuation of US$300 million. Investors include Dragonfly, Brevan Howard Digital, Maelstrom, Binance Labs, Franklin Templeton, Fidelity, Deribit, OKX, Gemini, Arthur Hayes, etc. In February this year, EthenaLabs launched the public mainnet and incentive activities, and listed its stablecoin USDe, and minted more than $287 million USDe within 24 hours of its launch. As of March 9, 2024, Ethena’s USDe stablecoin supply has exceeded $845 million, making it the sixth largest U.S. dollar-pegged stablecoin.
Ethena calls USDe a synthetic U.S. dollar that closely mimics an algorithmic stablecoin. These tokens are pegged to $1 and are minted as ETH is deposited into the platform. Its output comes from two sources: 1. Stake ETH to the validator and receive 5% capital gains. 2. Short Ethereum futures to obtain financing interest rates. According to historical model estimates, the interest rates are above 20%. Users can receive Ethena’s USDe by depositing stablecoins such as Tether (USDT), frax (FRAX), dai (DAI), Curve USD (crvUSD), and mkUSD, which can then be staked. Release takes 7 days. Staked USDe tokens can be provided to other DeFi platforms for additional income.
Shogun
is an intent-centric protocol designed to maximize traders’ extractable value (TEV) through optimized order flow and complete chain abstraction. Shogun connects liquidity on other chains to Berachain via its intent infrastructure to provide CEX-like trading, but with the advantages of DeFi.
UXUY
UXUY is a decentralized trading platform based on MPC wallet, which lowers the threshold of use by providing users with mnemonic-free and gas-free solutions. UXUY creates Gas solution GasPool by providing social trading functions, providing users with a CEX-like trading experience and significantly lowering the threshold for on-chain transactions. UXUY currently connects public chains and Layer 2, such as Bitcoin, Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea and Base.
In April last year, UXUY completed a US$3.2 million seed round of financing, with participation from Bixin Venture, WaterDrip Capital, KuCoin Ventures, Pionex, LK Venture, Arcane Group, Daoverse Capital, Lapin Digital, etc.
Cell
Cellula is a full-chain artificial life simulation game that will define the interactions between cells according to the rules of Conway’s Life Game and allow them to evolve autonomously on the blockchain. Using the game's production platform, players can freely create various genetic sequences and give birth to their own on-chain life forms. These life forms have unique appearances and attributes, showing diverse life forms. "Cell" is the basis of the Cellula game and is a genetic fragment of an organism in the Cellula world. Some cells have strong viability, and some cells have weak viability. Cells can be spliced together on a synthetic platform according to certain rules to synthesize powerful life forms. The total number of cells is 512, with 10 types of each type, and the total number of cell populations is 5120.
NFPrompt
NFPrompt is an artificial intelligence-driven NFT art generation platform that allows users to generate dynamic and intuitive digital content from text through AI tools, such as pictures, videos, animations, PFP avatars, music, and 3D models. As of March 9, the NFPrompt platform has accumulated more than 5.11 million creators and has generated nearly 3.2 million NFT works.
The initial issuance of the NFP platform token NFP is 1 billion, which can be used to pledge and share platform fees, pay for creation and promotion activities, community activities and governance, etc. In December last year, NFPrompt (NFP) launched the 41st phase of the Binance New Coin Mining Fair Mode project. The current price of NFP is about US$1, with an increase of more than 25% in the past week, and the FDV (fully diluted valuation) exceeds US$1 billion.
QnA3
An artificial intelligence-driven Web3 knowledge sharing and search platform, QnA3 Bot helps achieve user intent through "Question and Answer", "Technical Analysis" and "Real-time Trading" functions. QnA3 provides artificial intelligence question and answer services through its SOTA model's ability to understand user queries and its proprietary Web3 industry knowledge graph. It aims to help users construct and browse market hot spots, eliminate information asymmetry, and build investment logic. In addition, QnA3 also provides real-time cryptocurrency technical indicators and a huge market news database, providing users with detailed technical analysis to help them understand market trends.
QnA3's GPT token can unlock artificial intelligence capabilities and give users governance capabilities. It was listed on exchanges such as OKX at the end of February this year, with a current price of about US$0.7, an increase of about 25% in the past week, and an FDV (fully diluted valuation) of over US$700 million.
