Binance Labs announced its investment in Particle Network to solve user and liquidity fragmentation on Web3.
Particle Network is a leading L1 solution that connects all chains through Universal Accounts. Binance Labs aims to solve user and liquidity fragmentation in Web3 by investing in Particle Network, with the support of Binance's venture capital and incubation arm. This investment aims to facilitate the integration and access of users and liquidity in the Web3 ecosystem.
With its Chain Abstraction infrastructure, Particle Network enables users to maintain a single account and balance across the entire ecosystem. This way, it does not require manual bridging or asset management. It also solves liquidity and user fragmentation in a multi-chain world with features like Universal Gas and Particle L1 chain.
With the support of Binance Labs, Particle Network will undertake global team expansion, strengthen integrations of Chain Abstraction ecosystems, and aim to launch a secure and efficient L1 Mainnet later this year. This partnership is considered an important step towards mass adoption of Web3.
Yi He, Co-Founder of Binance and Head of Binance Labs, said: "Binance Labs is committed to supporting founders who develop innovative products to bring the next billion users to Web3. We look forward to supporting Particle Network in their mission to deliver a more fluid and intuitive experience for everyday users ," said.
Particle Network Founder Pengyu said, "It is a great honor for us to receive this investment from Binance Labs. This partnership is an important milestone towards the realization of Chain Abstraction and accelerating the mass adoption of Web3. With the support of Binance Labs, it will increase our technical capabilities and we will expand our reach within the global Web3 community. Together, we are committed to making Web3 more accessible and user-friendly for everyone,” he said.
Particle Network aims to combine Web3 with a seamless experience with the mission of "One Account, One Balance, Any Chain".
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