Key Points
- Binance Labs just revealed the first batch of projects admitted to Season 7 Incubation.
- The first four projects are Astherus, Cycle Network, Dill, and Eigen Explorer.
In an announcement shared via X, Binance Labs announced the first batch of projects admitted into the Season 7 Incubation.
The first four projects are the following:
- Astherus
- Cycle Network
- Dill
- Eigen Explorer
In the announcement, Binance Labs highlighted that Incubation admission is not the same as Labs investments, and proceeded to detail the first projects admitted.
Astherus is a liquidity hub for staked assets such as liquid staking tokens, (LSTs) and liquid restaking tokens (LRTs).
Binance Labs also posted that Cycle Network is a universal, secure, and verifiable chain abstraction that offers a bridgeless aggregate liquidity network for all blockchains, whether they are L1s, L2s, EVMs, or non-EVMs.
According to the same notes, Dill is the most scalable data availability network, fully compatible with Danksharding roadmap.
Eigen Explorer is Eigen Layer’s first native DeFi protocol.
In the announcement, Binance Labs also revealed that applications are still open and will be reviewed on a rolling basis.
Binance Labs Incubation Program
In March, Binance announced that its venture capital and incubation arm, Binance Labs, opened applications for Season 7 of its Incubation Program.
The Binance Labs Incubation Program addresses early-stage founders who are building innovative Web3 projects and it’s designed to offer a tailored curriculum including 1:1 mentorship with the Binance Labs Investment team. It also offers access to resources across the Binance ecosystem.
In the official announcement, Binance noted that the application review, founder interviews, and admission decisions will be conducted on a rolling basis, and admitted projects would be officially notified via email.
Regarding Season 6 of the Binance Labs Incubation Program, it received hundreds of applications, with 3% of them being admitted to the program.
12 project teams spanning across DeFi, infrastructure, and AI were selected and 7 standout project teams were invested in by Binance Labs at the end of the season.
Through the Incubation Program, Binance Labs makes a Request for Startups (RFS) in the following areas of interest:
- Infrastructure
- Decentralized Finance (DeFi)
- Application layer
The 2-month program started in May, after the formation of the new cohort of admitted projects.
Also, back in June, BNB Chain and Binance Labs launched the BNB Incubation Alliance (BIA) for Web3 innovation.
