Binance Labs Kicks Off Season 7 Incubation Program with New Projects

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As a seasoned researcher with extensive experience in the blockchain and cryptocurrency space, I’m excited to share my perspective on Binance Labs’ Season 7 Incubation Program. Having closely followed the progress of the program through previous seasons, I’ve witnessed firsthand how it has played a pivotal role in fostering innovation within the Web3 ecosystem.

Binance Labs, the venture capital division of Binance, has unveiled its Incubation Program for Season 7, welcoming the initial group of pioneering projects. The objective of Season 7 is to bolster early-stage Web3 ventures by offering them a structured learning program and essential resources drawn from within the Binance network.

🌟 Excitedly, we’re revealing the initial set of projects accepted for Season 7 at AstherusHub@cyclenetwork_GO@dill_xyz_@EigenExplorer! Please note that acceptance into Incubation doesn’t equate to Labs investments. Discover more about these innovative projects (presented alphabetically) below 👇

— Binance Labs Fund (@BinanceLabs) July 30, 2024

1. In the initial group, there are four prospective ventures: Astherus, Cycle Network, Dill, and Eigen Explorer. Astherus serves as a central platform for assets that have been staked, accommodating both liquid staking tokens (LSTs) and liquid re-staking tokens (LRTs).

As a researcher studying Cycle Network’s innovative approach, I can explain that they are designing a versatile, secure, and verifiable chain abstraction. This means they are creating a unified network for bridgeless aggregate liquidity, enabling it to function seamlessly across multiple blockchain layers. These layers encompass Layer 1s, Layer 2 solutions, Ethereum Virtual Machine (EVM) blockchains, and non-EVM blockchain platforms.

1. During a roughly two-month period, Dill, functioning as a Data Accessibility network and adhering to the Danksharding blueprint, along with Eigen Explorer – the pioneering decentralized finance protocol crafted by EigenLayer – will receive guidance and support from Binance Labs.

Early Web3 Mentorship Success

1. The Binance Labs Incubation Program focuses on nurturing early Web3 initiatives spanning infrastructure, DeFi, and the application layer at their initial stages. Throughout the program, founders partake in personal mentoring sessions and discussions with industry experts from Binance Labs and its partner firms to finesse their concepts and improve their product lines.

Applications for the program can be submitted at any time, and successful candidates will go through an interview phase before being accepted. You can access the application form by following the link provided in the program announcement on social media platform X.

Applications are still being accepted, and they will be evaluated as they come in. Keep an eye on our updates for information about the next round of projects.

— Binance Labs Fund (@BinanceLabs) July 30, 2024

During this current season, we strive to expand upon the accomplishments of past periods. In the past, approximately 3% of applications were approved, resulting in backing for significant projects such as Cellula, Derivio, Ethena, NFPrompt, QnA3, Shogun, and UXUY.

Web3 Founders Thrive in Binance Labs

1. The Binance Labs Incubation Program is designed to be flexible and cater to the changing requirements of Web3 founders. During the course of the program, participants will focus on refining their ideas and consistently improving their products. The program additionally offers informal chats with industry professionals and experts, offering valuable insights into the realms of blockchain technology and cryptocurrencies.

1. Kickoff for the two-month course happened in early May 2024, post the selection of the latest batch of projects. Binance Labs has expanded to a worth of more than $10 billion, featuring a collection of 250 projects spread across 25 countries. The incubation program remains instrumental in this expansion journey, as 50 of the portfolio companies have completed the program.

Interested founders can submit their applications using the formal submission form given by Binance Labs. Although participation in the program doesn’t assure investment from Binance Labs, it provides notable exposure and assistance for creating advanced Web3 projects.

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2024-07-30 15:40