Binance Labs, the venture capital arm of the cryptocurrency giant Binance, announced the first cohort of its Season 7 Incubation Program. This initiative aims to support early-stage Web3 startups by providing them with a structured curriculum and access to resources from within the Binance ecosystem. 

The program’s goal is to foster innovation and growth in the blockchain space.

Introducing the First Four Projects

The inaugural batch of the Season 7 Incubation Program features four promising projects: 

Astherus: A Liquidity Hub for Staked Assets

Astherus is positioning itself as a liquidity hub for staked assets. The project focuses on supporting both liquid staking tokens (LSTs) and liquid restaking tokens (LRTs). By providing a centralized platform for these assets, Astherus aims to enhance liquidity and offer more flexibility to users involved in staking.

Cycle Network: Bridgeless Aggregate Liquidity

Cycle Network is developing a universal chain abstraction that eliminates the need for traditional bridges. Its goal is to create an aggregate liquidity network that spans various blockchain layers, including Layer 1s, Layer 2s, Ethereum Virtual Machine (EVM) blockchains, and non-EVM blockchains. This approach aims to streamline interactions across different blockchain ecosystems.

Dill: Scalable Data Availability Network

Dill is making strides as a data availability network known for its scalability. The project is designed to be fully compatible with the Danksharding roadmap, which aims to improve data availability and scalability within blockchain networks. 

Eigen Explorer: Decentralized Finance Innovation

Eigen Explorer represents the first native decentralized finance (DeFi) protocol developed by EigenLayer. The protocol seeks to offer innovative solutions within the DeFi space, leveraging EigenLayer’s technology to provide new financial services and functionalities.

The Incubation Program: What to Expect

The Season 7 Incubation Program spans approximately two months. During this period, the selected projects will benefit from Binance Labs’ mentorship and extensive resources. This support includes access to industry experts, strategic guidance, and integration opportunities within the Binance ecosystem.

It’s important to note that while admission into the Binance Labs Incubation Program provides valuable support, it does not guarantee investment from Binance Labs. Investment decisions are made separately and are announced after the program’s conclusion.

The program is part of Binance Labs’ broader mission to identify, invest in, and empower blockchain entrepreneurs and startups. By targeting pre-seed to seed stage investments, Binance Labs aims to drive innovation and support the expansion of the blockchain ecosystem.

Binance Labs’ Incubation Program has previously nurtured innovative projects such as Bracket Labs, DappOS, Kryptoskatt, Mind Network, and zkPass.