Binance Labs is a part of the world’s largest cryptocurrency exchange, Binance, specializing in venture capital investments and nurturing promising projects in the blockchain and cryptocurrency space. Established in 2018, Binance Labs has set its mission to support potential entrepreneurs, startups, and the blockchain community.
The main mission of Binance Labs is to provide financial backing and support for projects in the industry, helping them grow and promote the development of the blockchain ecosystem. Specifically, Binance Labs invests in projects at various stages, from Seed Round to Series A. The projects they are interested in often revolve around areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), metaverse, and gaming.
In addition to investments, Binance Labs also offers incubation programs and support for blockchain startup projects. These programs provide the necessary resources and assistance for startup projects to develop and achieve success in the blockchain field.
List of projects invested in by Binance Labs in 2023
Tokens Released:
- Pendle Finance (PENDLE) – Launchpool: Leading name in the LSDfi Yield Trading sector, also a protocol that Binance Labs announced an investment in in August 2023.
- Curve Finance (CRV): One of the oldest and largest DeFi protocols in the market, Binance Labs invested $5 million and supported project development on the BNB Chain. This move came immediately after the dramatic events surrounding Curve Finance in August.
- Maverick Protocol (MAV): A new-generation AMM protocol created to address the remaining liquidity issues with Uniswap v3’s CLMM. This is the 34th project in Binance’s launchpool.
- Neutron (NTRN): A cross-chain smart contract platform using the cross-chain security feature of the Cosmos ecosystem. This is the 38th project in Binance’s launchpool.
- CyberConnect (CYBER): A decentralized social media platform operating on BNB Chain, Ethereum, and Polygon. With CyberConnect, users can create profiles, post and share content (images, videos, etc.), and connect with other users.
- Radiant Capital (RDNT): The first omnichain lending platform in the market, allowing users to deposit and borrow money on multiple blockchains. Radiant has gained attention within the Arbitrum ecosystem.
- Fusionist (ACE): A project that combines Blockchain gaming (Fusionist) and a social infrastructure layer (Endurance), built by an experienced and game-savvy team using Unity and HDRP technology to provide high-quality products and engaging gaming experiences for all users. This promotes a unique and innovative web3 gaming environment. Binance Labs invested $6.6 million in Fusionist and listed Fusionist as the 40th launchpool project.
- Sleepless AI (AI): A Web3 gaming platform combined with artificial intelligence AI, allowing users to interact with AI characters as if they were real people. Characters in Sleepless AI will develop and change over time based on how you interact with them. This is the 42nd launchpool project and the last launchpool project of 2023.
Projects with Tokens Yet to be Released:
- Helio Protocol: A leading LSDfi protocol in the BNB Chain ecosystem, designed to optimize the use of capital for LSTs through “destablecoins” $HAY.
- Polyhedra Network: An integrated project that incorporates and develops ZK technology into the Web3 space, raising $10 million in strategic funding led by Binance Labs and Polychain Capital. Additionally, Animoca Brands and Dao5 participated in the funding round.
- GoPlus Security: A leading Web3 security infrastructure provider covering most major blockchain networks with multi-dimensional risk detection features to create a safer Web3 environment.
- Kinza Finance: A next-generation lending protocol on BNB Chain, focusing on the Real Yield and ve(3,3) model.
- Alt Layer: An infrastructure project that offers a user-friendly “Rollup-as-a-Service” service, allowing users to easily create their own Rollups with customizable options for “proof” while ensuring high performance.
- KiloEx: A decentralized derivatives exchange, aiming to create a better risk management protocol and optimize capital utilization.
- Delphinus Labs: A project that combines zero-knowledge (zk) technology into the first fully deployed WASM (WebAssembly) environment for developers. Binance Labs noted that its investment in Delphinus Lab is contributing to a new era of Web3 technology.
- Xterio: A platform for developing and releasing Web3 games based on blockchain technology and artificial intelligence (AI). The project provides GameFi-as-a-Service (GaaS) solutions, allowing players to immerse themselves in the Metaverse world, play and earn rewards, trade NFTs through the Marketplace, own SoulBound Tokens, and interact with other players.
- CashmereLabs: A cross-chain synthetic asset platform providing exchange capabilities, selected by Binance Labs in the MVB VI program (similar to Shark Tank but with CZ as a shark). Additionally, the project is built on the currently popular LayerZero omnichain protocol.
- Bracket Labs: A project building structured on-chain leverage products with a simple interface. Previously, Bracket Labs launched BracketX.fi, a platform that allows traders to quickly take advantage of market conditions during sideways and trending market conditions.
- DappOS: A project focusing on building an operating protocol to create solutions that improve the usability and accessibility of Web3 applications.
- Kryptoskatt: A project simplifying Web3 finance for global users, offering comprehensive solutions from accounting and investment portfolio management to tax reporting. Kryptoskatt currently supports over 2000 DeFi protocols, 50 blockchains, 100 exchanges, and wallets. Kryptoskatt is essentially a one-stop-shop for all Web3 financial needs.
- Mind Network: A data storage tool designed to protect decentralized privacy, storage, and compute data for pay-as-you-go performance. Mind Network is built on the fully adaptive Fully Homomorphic Encryption (FHE) framework.
- zkPass: Based on zero-knowledge proof (ZKP) technology, zkPass aims to provide a secure identity verification and privacy protection solution for Web3 applications.
- Web3Go: A blockchain-based data and AI platform that enables users to access, analyze, and utilize on-chain data easily and efficiently. Web3Go also provides advanced AI solutions, such as AI-native digital assets and on-chain AI development platforms.
- Sleek: A Web3 social media platform with a unique user approach. Sleek successfully raised $5 million from Binance Labs, increasing its valuation to $50 million.
- GOMBLE game – Rumby Stars: A gaming platform developed by developers from South Korea.
- Playbux: A metaverse e-commerce platform built on BNB Chain, integrating Shop & Earn and other services.
- Gameta: A multi-layered entertainment and NFT gaming network aimed at providing Web3 users with a comprehensive gaming experience.
- Filswan: A project building a Layer 3 cross-chain solution to simplify the integration of data, computation, and storage.
- Tabi: A decentralized NFT platform and exchange, offering products such as NFT trading, Launchpad, and gaming platforms.