12 Gems Backed by Binance Labs to Watch - Part 1

Investors may find it hard to search for the right token or coin that fits their needs. Given the large number of cryptocurrencies available. So, one of the easiest ways is to “outsource” the search process to legitimate platforms and launchpads.

For example, Binance Labs regularly publishes new listings. So, successful projects must be of the highest caliber. Binance’s policies state that the exchange only accepts roughly 2% of applications. This means that only the projects with the best outlooks have a chance. In this article, we’ll show you six gems backed by Binance and confirmed and speculated airdrops.

1) Altlayer

Rollups are getting more popular than ever before. So it was no surprise when Binance announced in August 2023 that it had invested in Altlayer, a rollup-as-a-service for dApps scaling. Altlayer helps projects and developers easily integrate rollups into their projects.

AltLayer basically functions as a collection of multiple unique optimistic rollups, each securely attached to an underlying Layer 1 base such as Ethereum or a Layer 2 base like Arbitrum and Optimism. In addition, each is tailored to suit a specific use. AltLayer accommodates both EVM and WASM natively, as it was designed with a multi-chain and multi-VM ecosystem in mind.

AltLayer received a staggering $7.2 million in seed funding last year from Polychain Capital, with backing from Jump Crypto and Breyer Capital. Also, there is currently no specified information on any token sale for this project. But being backed by Binance is a good sign.

2) Web3GO

Web3go is an AI blockchain data startup. The project has already raised $4 million, led by Binance Labs, HashKey Capital, NGC, and Shima Capital. Web3Go is a graduate of one of Binance Labs’ incubation programs. It plans to use blockchain technology to help verify ownership of AI-native digital assets.

Web3go also offers a set of data tools that help create that asset type. These tools include a data curation protocol that processes ownership verification and real-time data processing features that help with on- and off-chain data computation and information flow.

3) Zkpass

zkPass is a privacy-focused platform that combines cryptographic technologies such as zero-knowledge proofs and multi-party computation to verify data. The Zkpass platform enables users to selectively and securely validate their data from any HTTPS website.

This way, Zkpass is suitable for different applications, including DeFi lending protocols and banking. Zkpass comes in handy when privacy and trust are needed. This protocol raised a $2.5M seed round funding from Sequoia China.

4) Mind Network

Mind Network is another Web3 project focused on data security and privacy. The project has already raised $2.5 million in a funding round with participation from Binance Labs, HashKey Capitals, Mandala Capital, Big Brain Holdings, Arweave SCP Ventures, Comma3 Ventures, SevenX Ventures, and others.

Mind Network seeks to empower its users with end-to-end encryption and give them total control over their financial and personal data and user interactions. The project combines the basics of zero-trust security with zero-knowledge proofs and a patented adaptive Fully Homomorphic Encryption (FHE) to provide security.

5) Bracket Labs

Bracket Labs is pretty much an under-the-radar project with strong fundamentals. The project was one of the five initiatives that secured funding from Binance Labs in June. Bracket Labs is building leveraged structured products on-chain. It features an easy-to-grasp interface and innovative, adaptive pricing.

Its core mission is to boost the adoption of its new financial primitives and help investors easily apply for financial leverage.

6) Kinza Finance

Our final project is Kinza Finance, a lending protocol seeking to create the best on-chain money market and focus on security. In addition, Kinza features Real Yield, which uses a dynamic interest rate curve and generates revenue from interest for the protocol and lenders.

Some of the projects on this list do not yet have their tokens on exchanges. However, each solves a unique problem in the market, making them notable. This protocol raised important funds from Binance Labs.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.

Copyright Altcoin Buzz Pte Ltd.

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