Binance Labs Funds Four High-Potential Projects

Binance Labs announced investing in four high-performing projects from its recent Most Valuable Builder program (MVB) on Aug. 4. The MVB program is an accelerator initiative to foster growth within the BNB Chain ecosystem. 

Through the MVB Program, Binance Labs identified the four standout projects across Infrastructure, Tools & Middleware, DeFi, and Application Layer.

The four projects selected for investment are:

AltLayer: An open and decentralized protocol enabling developers to launch application-tailored rollups. AltLayer provides a no-code Rollups-as-a-Service dashboard on its core network, Beacon Layer, facilitating customized rollups with fraud/zk proofs at impressive speeds.

KiloEx: KiloEx is building the next-gen user-friendly perpetual decentralized exchange (DEX) focused on risk management and capital efficiency. Traders can expect lightning-fast trades and a seamless experience with a diverse range of trading pairs. 

Kinza: Kinza aims to create the best on-chain money market, featuring Real Yield and a dynamic interest rate curve that generates revenue for the protocol and lenders. Users can customize collateral risks to enhance capital efficiency while mitigating risk from volatile assets.

Sleepless AI: Sleepless AI is an AI blockchain-based virtual companion game that uses AIGCs and LLMs to create engaging story-based gameplay and organic character interactions. Sleepless AI is currently developing three games, with their first title, "HIM," featuring unique SBT characters that are immutable and on-chain.

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Binance Labs Incubation Program Opens Applications for Next Phase

According to a statement shared with BSC News by Binance Labs, the MVB Program concluded its sixth season in June 2023, with less than 1% of applicants accepted. In addition to mentorship from the Binance Labs Investment team, founders in the program engaged in fireside chats with Binance Labs portfolio founders and Binance Co-Founders CZ and Yi He. More than 1,400 projects applied for this iteration, with the majority of applicants coming from North America and Europe.

The Binance Labs Incubation Program for the next phase is currently open for applications, and it welcomes projects from diverse chains, sectors, and stages. Binance Labs has issued a Request for Startups in the following areas: 

• Infrastructure - MEVs, ZK Proofs, Layer 2 Scaling, Modularity 
• Tools & Middleware - Wallets, On-Chain Data Analytics, On-Chain Search Engines
• DeFi - Lending & Borrowing, Perpetuals & Derivatives, Investing & Structured Products, Liquid Staking, RAWs
• Application Layer - AI-Powered DApps, Fully-On Chain Web3 Games, High-Quality Web3 Studios, SocialFi

Entrepreneurs and founders can apply to the Incubation Program until August 15th, 2023 here, and take advantage of Binance Labs' support to bring their innovative ideas to life in the dynamic world of cryptocurrency and blockchain.

Apart from funding new projects, Binance has also been making moves globally. On July 26, the exchange announced its highly-anticipated return to the Japanese market following its closure in 2018. Moreover, Binance FZE, Binance's Dubai subsidiary, acquired the first-ever Operational Minimum Viable Product (MVP) license from Dubai's Virtual Asset Regulatory Authority (VARA) on July 3.

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What is Binance Labs

Binance Labs is the Venture Capital and Accelerator arm of Binance. Since 2018, Binance Labs has invested in more than 200 projects across 6 continents with $9 billion in total assets and a 1260% rate of return on investment. It has also incubated more than 50 projects that are native to Web3 through the Binance Labs Incubation Program, including Polygon, Perpetual Protocol, and Dune Analytics. Follow Binance Labs on Twitter for the latest news.

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Where to find Binance Labs:

Website | Twitter