Investment in Innovation
Binance Labs, the venture arm of the leading crypto exchange Binance, has officially announced the latest additions to its incubation program. The sixth season sees the introduction of three promising projects: Ethena Labs, NFPromt, and Shogun, each bringing a unique edge to the blockchain and crypto space.
Empowering Ethereum’s Ecosystem
Ethena Labs is at the forefront, developing a derivatives infrastructure poised to revolutionize Ethereum. Their platform is designed to enable ETH to become the premier revenue-generating stablecoin, operating independently from traditional banking structures.
Revolutionizing Content Creation with AI
NFPromt stands out as an AI-driven platform that empowers Web3 creators. It integrates cutting-edge features like non-fungible tokens (NFTs), Caption, and 404 to foster a space for AI-assisted creation, social interaction, and monetization opportunities for the next-gen creators.
Shogun: Reshaping Trader Experience
The Shogun project is dedicated to enhancing trader extractable value (TEV) through an intent-centric protocol. By optimizing order flow and ensuring complete chain abstraction, Shogun aims to upgrade the trading experience on a fundamental level.
A Year in Review: Binance Labs’ 2023
Reflecting on the previous year, Binance Labs has made significant strides in promoting zero-knowledge proof technologies, Web3 gaming, and various decentralized finance (defi) products. With a portfolio boasting a 14x return on investment and spanning 250 projects across 25 countries, their impact on the industry is undeniable. Notable projects under their wing include Optimism, LayerZero, Celestia, Aptos, Mysten Labs, and Trust Wallet, with over 50 companies having benefited from their incubation, such as Polygon, SafePal, and Injective Labs.
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