Binance, the world’s leading cryptocurrency exchange has over the years prioritized expansion of its ecosystem. One notable avenue it has achieved that involves the incubation of new ideas through the Most Valuable Builder incubation program.
Unveiling Diverse Functionalities of New Projects
According to a post on X by Binance Labs Fund, the venture capital arm of Binance, the first batch of projects for the seventh season of this 10-weeks accelerator program for founders, builders and developers include Astherus, Cycle Network, Dill and EigenExplorer.
Notably, Binance has over 50 portfolio companies from projects that passed through the incubation program. The unveiling of these latest batch signals another addition to the growing numbers of portfolio companies for the exchange as it strives to maintain its leadership position in the broader crypto space.
Each of the four unveiled projects were designed for specific functionality needs.Â
Astherus for instance, serves as a liquidity hub for staked assets such as liquid staking tokens and liquid restaking tokens. Cycle Network on the other hand offers a bridgeless aggregate liquidity network to all blockchains, providing secure and verifiable chain abstraction. This includes Layer 1, Layer 2, Ethereum Virtual Machines (EVMs) or non EVMs.
The other two projects include Dill and EigenExplorer. Dill functions as a scalable data availability network and has full compatibility with the Danksharding roadmap while EigenExplorer debuts as the first native DeFi protocol explorer for EigenLayer.
Binance Labs Empowerment of Developers and Builders
Teach analysts have lauded the approach adopted by Binance Labs in empowering developers and builders that desire to become founders.Â
A notable component of the arrangement is that these developers get supported to emerge as founders on the Binance chain by creating something transformative and great utility.
Stakeholders, particularly from the Binance community look forward to the total number of projects that will emanate from the seventh season, given that Binance Labs has described these four as the first batch.
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