Binance Labs Selects Four Startups for Funding

The venture arm of the cryptocurrency exchange Binance has selected four projects — Astherus, Cycle Network, Dill, and EigenExplorer — for the seventh season of its incubation program.

We’re thrilled to unveil the first batch of projects that we admitted into Season 7 Incubation@AstherusHub@cyclenetwork_GO@dill_xyz_@EigenExplorer

Note: Incubation admission isn’t the same as Labs investments.

Learn more about the projects (listed alphabetically) below ?

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

According to the statement, Astherus is a “liquidity hub” for staking assets like LST and LRT.

The project’s ecosystem comprises three components: the DEX AstherEX, the passive income platform AstherEarn, and the L1 blockchain AstherLayer based on the Cosmos SDK. The solution supports Ethereum and BNB Chain networks.

Cycle Network is described as a “universal, secure, and verifiable” chain abstraction, offering a bridge-free aggregated liquidity protocol for all layers and compatibilities, including L1, L2, EVM, and non-EVM.

Dill presents “the most scalable” data availability network in Ethereum, fully compatible with the Danksharding roadmap. The project’s documentation states that the protocol supports “millions of validators” and features Bitcoin staking and restaking.

EigenExplorer is the first native DeFi protocol from EigenLayer. The project offers an API for fast and confidential data tracking in the restaking ecosystem. The solution is free and open to the public.

Earlier, for the sixth season of its incubation program, Binance Labs selected 12 startups. The list included projects from various categories, including blockchain infrastructure, DeFi, AI, Web3, GameFi, and AI.