Binance Labs Review: Crypto World’s Best Project Incubator

Binance is still the highest-quality exchange today. But it doesn’t end there since the system of goods they’ve deployed has produced significant “echoes” in the industry, as shown by the Binance Labs investment fund.

So what is the premise of Binance Labs, and what specific roles does it have for new investors? Or if this is an alternative that provides several prospects for investors to get wealthy is an open topic.

Binance Labs is funding what projects? Let’s head to Coincu to learn more in the article below.

What is Binance Labs?

Binance Labs is a fund that provides financial assistance to the major exchange Binance. Binance Labs’ objective is to identify people, businesses, or Blockchain communities with the ability to “flow money” into investing. Binance Labs will give financial resources, allowing developers to start new initiatives with confidence.

Binance Labs funds technical teams that create and maintain the decentralized web. Binance Labs can help with technical and marketing challenges in addition to financial ones.

Binance Labs is an investment fund run by Binance, one of the world’s major exchanges. Binance Labs’ mission is to find, invest in, and develop future blockchain entrepreneurs, businesses, and communities by supporting industry initiatives that assist in expanding the greater blockchain ecosystem.

Binance Labs is dedicated to assisting agile engineering teams who have a positive influence on the cryptocurrency field and are building the decentralized web. Binance was founded in 2017 with just $100 million in financing. Binance Labs has a portfolio of 100 projects and is present in over 25 countries after 6 years of operation. Binance Labs’ birth has become a “fertile environment” for incubating and supporting company development.

Binance Labs exclusively invests in 10 to 30 initiatives each year. Binance invests in initiatives that meet the criteria of quality over quantity, and these projects are chosen very carefully with exceptionally high competition rates. Binance used to invest in just 5 to 7 startups out of roughly 300 possible investments.

Team

Changpeng Zhao (CZ) – CEO

Changpeng Zhao (CZ) is a Chinese-Canadian businessman who founded the cryptocurrency exchange Binance as well as Binance Labs.

CZ is an important member of Binance Labs. CZ worked for the Tokyo Stock Exchange as a software engineer at Bloomberg Tradebook before becoming the CEO of Binance.

He relocated to Shanghai in 2005 and started Fusion Systems, which is noted for being some of the quickest high-frequency trading systems for stockbrokers.

He began working on numerous crypto ventures in 2013, including Blockchain.info, and he also served as the chief technical officer of OKCoin.

CZ also has many jobs in the cryptocurrency industry, including senior staff at Blockchain.io and Chief Technical Officer at OKCoin.

CZ quit OKCoin in 2017 to launch the cryptocurrency exchange Binance. Binance was created in July 2017 after earning $15 million in an initial coin offering (ICO). Binance became the world’s biggest cryptocurrency exchange by trading volume in less than eight months.

Yi He – Co-founder

While not as widely recognized as CEO Changpeng Zhao, Binance co-founder and chief marketing officer (CMO) Yi He made important contributions to the creation of this “empire.”

Yi He met Zhao in 2017 and became a co-founder of Binance the day before the website debuted.

Yi He has held positions of leadership in company strategy, investing, marketing, and branding. She has aided Binance in becoming the world’s biggest exchange since its inception.

She also played a significant role in transforming Binance from a simple exchange to a worldwide crypto ecosystem.

She has had a variety of jobs at Binance, although her primary emphasis has been on business strategy. Yi He presently oversees Binance’s’startup incubator,’ philanthropy, and marketing services. More than 2,000 individuals are now working under her direction.

Yibo Ling – Chief Business Officer

Yibo is Binance’s Chief Business Officer, and he oversees the creation and execution of the company’s strategic goals to aid in the advancement of blockchain technology. He is in charge of Binance Labs, M&A, joint ventures, and strategic alliances. Yibo had held executive positions at Bird, Uber, and The Boston Consulting Group before joining Binance. He received his Ph.D. in EECS from MIT and his BA in English and BS in Biomedical Engineering from the University of Michigan.

Dana Hou – Business Strategy & Ops

Dana works directly with Yi on Binance Labs, high-impact projects, and other significant corporate activities. Dana formerly oversaw product development and strategic investments at top-tier digital firms, co-founded a startup, and worked as a macro strategist at Goldman Sachs. Dana earned her MBA from Stanford Graduate School of Management.

Portfolio of Binance Labs

Binance’s portfolio is quite diverse, encapsulating not only crypto projects but also many other projects. In addition, Binance Labs is also very interested in investing in the e-wallet segment to diversify and improve the trading system in its ecosystem. For a better overview of the Binance Labs portfolio, you can refer to the photo below:

Of course, not every project which Binance Labs has funded is posted on the market. Yet, once listed on an exchange, particularly Binance, it always draws the attention of a large number of investors, resulting in strong liquidity.

Infrastructure

• Harmony: This platform uses a Proof-of-Stake method to assist developers in designing and constructing infrastructure for their apps.
• Chiliz: Socios.com is a new Blockchain platform for establishing interactions amongst sports enthusiasts.
• LayerZero: widely regarded as the first Omnichain interoperability standard. LayerZero’s objective is to make chain connections as easy as possible.
• Cartesi: Ethereum Layer 2 that allows users to construct projects on the Linux operating system. Binance Labs’ investment in Cartesi could not be detected.
• Celer Network: Layer 2 combines State Channel and Rollups technology.
• Terra: A blockchain in the Cosmos ecosystem centered on the stablecoin UST.
• Polygon: Sidechain, formerly known as Matic, is similar to Binance Smart Chain in that it solves Ethereum’s congestion issue. Binance Labs’ investment in Polygon could not be detected.

Oracle

• Band Protocol: Band was one of the first Oracles, rising by over 1,500% in a few months when the Oracle trend was still popular. Binance Labs made a round of seed investment in September 2019.
• Tellor: Tellor was an Oracle who lived at the same time as Band. Yet, Tellor has yet to grow in terms of partners. Binance Labs’ investment time in Tellor could not be detected.

Derivatives

• Injective Protocol: Injective began as a derivatives exchange. Yet, in the Cosmos world, Injective has evolved into a Blockchain with its own ecosystem. Injective received three rounds of investment but was unable to locate the time that Binance Labs spent in Injective.
• Perpetual Protocol: is now one of the most lucrative derivatives trading platforms, behind only dYdX. Binance Labs invested in the Seed round in August 2020, as well as the Binance Labs Incubator Season 3 companies.

Analytics

• Dune Analytics is a platform that provides decentralized analytics capabilities. Users may add their own data here so that other people can study.
• DappReview: This portal analyzes over 5,000 applications across 15 different Blockchains. As a result, customers may quickly follow the most popular project data.

Farming

• Alpha Finance: This is an amazing Yield Farming project with the capacity to combine the market’s first leverage.
• Pancake Bunny is a platform that uses the Binance Smart Chain network. Pancake Bunny has numerous appealing functions, such as swapping, playing games, trading/buying and selling products, and so on.

Asset Administration

• Tranchess is a platform that assists users in managing their investors’ assets.
• Troy: Serves as a “butler” for investors, aiding them in handling transactions, giving analytical data, assisting in strategy development, and so on.

Lending

• Xend Finance is a loan and savings company that offers interest rates as high as 15% APY. Binance Labs Participated in a Seed Round in February 2021.
• Hard Protocol was modified to Kava Lend for easier identification with other Kava goods such as Kave Swap and Kava Mint. Binance Labs’ investment in Kava Lend could not be detected.
• Wing is a platform for unsecured lending with cross-chain compatibility. Binance Labs has not said how long it would invest in Wing.

Aggregator

• 1inch: This is one of the pioneering initiatives in the Aggregator sector. This platform enables users to trade with the least amount of slippage. Simultaneously, 1inch offers an incredibly high supply of liquidity.
• Bella: This is a platform that can combine conventional services like farming, lending, and saving into a single application.
• Flamingo: A Full-Stack DeFi platform that runs on the NEO Blockchain network.

Wallet

• Torus is a product suite that combines infrastructures and wallets. Torus is capable of providing users with an ideal collection of password-free storage options.
• One of the most popular “Multi-chain” wallets is Math Wallet. Math Wallet incorporates excellent DeFi characteristics in crypto. Moreover, this wallet has a Layer 2 made up of Substrate named MathChain.
• Swipe is a cryptocurrency trading platform based on the Ethereum Blockchain. This platform contributes to the legalization of cryptocurrencies, allowing them to be used like fiat money in daily life.
• SafePal is an electronic wallet that supports over 20 different Blockchains. SafePal offers cold wallets as well as a mobile app.

Gaming/NFT

• My Neighbor Alice: This is a gamefi platform that adheres to the building concept. Those who join the game may purchase and possess virtual islands (NFT). In addition, My Neighbor Alice offers fun games to entice users to participate.
• Axie Infinity: For a moment, this game was at the forefront of the popular Play to Earn craze. Axi Infinity is also one of the gaming ventures with the largest market capitalization.
• Sandbox is a virtual reality platform that is decentralized (Metaverse). Sandbox has garnered millions of users since its initial introduction on the Ethereum Blockchain network.

Stablecoins

• Binance USD: Binance and Paxos have collaborated to create this platform. As a result, Paxos is a financial entity managed by New York. Charles Cascarilla is the CEO of Binance USD. Binance USD’s objective is to let users conduct transactions and exchange popular stablecoins throughout the globe.

Trading

• WazirX: Indian CEX exchange
• Tokocrypto is the Indonesian CEX exchange.
• DODO: DEX was formed after a lengthy period of time, and it later incorporated numerous functions like Launchpad, token creation, and so on.

Conclusion

Binance Labs is a major fund with a solid track record. Nevertheless, investing in projects in which Binance invests is unprofitable.

Binance Labs, on the other hand, is recognized as the most promising “project incubator” today. It is evident that Binance Labs’ investments are mainly strong startups with long-term development potential.

It can be observed that the projects in which Binance Labs has invested have yielded a large profit up to this point. Binance Labs’ investing approach has gotten more widespread in recent years, making it harder for investors to follow.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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