TL;DR Breakdown
- Binance Labs reveals strategic investments in standout projects from the highly competitive Season 5 of its Incubation Program, meticulously handpicking a limited number of ventures from a staggering pool of more than 900 exceptional project applications.
- Following a captivating pitch session with industry leaders and investors, Binance Labs has awarded funding to five exceptional projects: Bracket Lab, DappOS, Kryptoskatt, Mind Network, and zkPass.
- As Season 6 approaches, Binance Labs gears up for the launch by inviting founders of early-stage projects to submit their applications on a rolling basis, fostering an environment of continuous engagement and opportunity.
With great pride, Binance Labs, the renowned venture capital and incubation arm of Binance, announces its significant investment in the most promising projects from Season 5 of its esteemed Incubation Program. Out of a staggering 900 project applications received this season, only a select few were chosen for this prestigious program. These exceptional projects were provided with unparalleled support, including a tailored curriculum, exclusive ecosystem resources, and captivating fireside chats with industry leaders.
Yibo Ling, the esteemed Chief Business Officer at Binance, reaffirms the organization’s unwavering commitment to empowering early-stage projects that demonstrate the potential to drive industry advancement. Ling emphasizes the pivotal role of Binance Labs in supporting scalable projects, stating, “Binance Labs remains dedicated to empowering scalable early-stage projects that contribute to the progress of the industry. We eagerly anticipate witnessing the positive impact that the incubated projects from Season Five will have on the broader Web3 ecosystem.”
A notable highlight of Season 5’s Incubation Program was the highly anticipated Build The Block event. This remarkable gathering provided the Season 5 cohort with a unique platform to showcase their innovative projects to influential industry leaders and potential investors. Binance Labs, recognizing the exceptional capabilities of five standout projects, namely Bracket Lab, DappOS, Kryptoskatt, Mind Network, and zkPass, rewarded them with well-deserved funding.
Under the expert guidance of Binance Labs, these projects possess the potential to revolutionize the crypto world with their groundbreaking ideas and solutions. Let us delve into the intricate details of these exceptional projects that captured the attention of Binance Labs and hold the transformative power to reshape the dynamic Web3 ecosystem.
- Bracket Lab: Bracket Lab aims to revolutionize the world of structured products by building them on-chain with user-friendly interfaces and innovative, adaptive pricing. Their recently launched platform, BracketX.fi, empowers traders to swiftly capitalize on market volatility, whether in sideways or trending conditions.
- DappOS: DappOS is dedicated to creating an operating protocol that removes entry barriers into the Web3 space. By enhancing the usability and accessibility of Web3 applications, DappOS strives to make them more user-friendly and widely adopted.
- Kryptoskatt: Kryptoskatt simplifies Web3 finance management for individuals worldwide. It offers comprehensive solutions such as accounting, portfolio management, and tax reporting. Supporting over 2000 DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains, Kryptoskatt serves as a convenient one-stop shop for all Web3 finance needs.
- Mind Network stands out as an exceptionally secure and encrypted network, leveraging its patented Adaptive Fully Homomorphic Encryption (FHE) framework. Users can confidently store their data, smart contracts, and AI on Web3, enjoying complete privacy without concerns of privacy breaches. This decentralized data lake provides high-performance pay-as-you-go data storage and computation, fortified by robust encryption measures.
- zkPass: zkPass places privacy and decentralized identity verification at the forefront, utilizing cutting-edge technologies like multi-party computation (MPC) and zero-knowledge proof (ZKP). The project aims to deliver a secure and privacy-preserving identity verification solution for Web3 applications, leveraging state-of-the-art cryptographic techniques.
Amidst the electrifying achievements of Season 5’s incubated projects, Binance Labs confidently sets its sights on the highly anticipated Season 6 of its prestigious Incubation Program. The call to action for visionary founders leading early-stage projects resounds with great intensity, urging them to seize this extraordinary opportunity. As the application process for Season 6 commences on a rolling basis, Binance Labs assures a fair and inclusive selection process, ensuring that every deserving project receives a chance to shine.
Binance Lab’s interest in Web3 innovation
Binance Labs, since its inception in 2018, has consistently demonstrated its unwavering dedication to supporting the remarkable growth of the cryptocurrency ecosystem. Through strategic investments in over 200 projects spanning across 25 countries, and the successful incubation of more than 50 cutting-edge Web3-native projects via its prestigious Incubation Program, Binance Labs has cemented its position as an undisputed industry leader.
Within Binance Labs’ extensive portfolio, notable projects like Polygon, Perpetual Protocol, and Dune Analytics stand out as shining examples of its astute investment choices. As the venture capital and incubation arm of Binance, it proudly manages an impressive $7.5 billion in Assets Under Management (AuM) and boasts an astonishing Multiple on Invested Capital (MOIC) of 21.0x as of August 2022, solidifying its status as the largest crypto VC in the industry.
Binance Labs’ resolute commitment to fostering the growth of the crypto ecosystem has been the driving force behind its enduring success. With the highly anticipated Season 6 of its Incubation Program just on the horizon, Binance Labs remains at the forefront of Web3 innovation, constantly pushing boundaries and unlocking new possibilities.
Keep a close eye out for the official launch of Binance Labs’ Incubation Program Season 6, as it promises to once again provide promising projects with the opportunity to unlock their full potential and make a profound and lasting impact on the dynamic and ever-evolving crypto landscape.