Binance Labs Selects Three More Startups for Funding

The venture arm of the cryptocurrency exchange Binance has introduced three additional projects participating in the seventh season of its incubation program. The list includes Aarc, FluxLayer, and TonTon Games. 

Despite the turbulence in the crypto market, Binance Labs remains committed to supporting projects that are developing innovative technology and meaningful use cases to shape the future of Web3.

We’re excited to unveil the second batch of projects that we have admitted into…

— Binance Labs Fund (@BinanceLabs) August 5, 2024

“Despite the turbulence in the crypto market, Binance Labs remains committed to supporting projects that are developing innovative technology and meaningful use cases to shape the future of Web3,” the publication states. 

Aarc is a modular protocol that simplifies chain abstraction for decentralized applications (dapps). 

According to the website, the solution can unify user accounts and liquidity from any blockchain without the complexities of deploying multiple chains, migrating dapps, or modifying contracts. Aarc is compatible with Ethereum, Arbitrum, Optimism, Polygon, BNB Chain, Avalanche, Base, ZKsync, and other networks. 

FluxLayer is an omnichain target liquidity layer supported by the EigenLayer restaking protocol, providing ILaaS. 

TonTon Games is a startup focused on publishing games on Telegram. The project team assists other companies in launching gamified applications. Their first partners include the developers of the Web3 racing game Drft Party based on TON.

The first group of the seventh incubation season at Binance Labs included Astherus, Cycle Network, Dill, and EigenExplorer. 

In June, the BNB Chain ecosystem and Binance Labs launched the BNB Incubation Alliance, aimed at supporting early-stage Web3 projects.