Binance Labs Backs the Oasis Ecosystem Fund to Support the Projects Building on Oasis Network
Binance Labs announced to participate in the Oasis Ecosystem Fund to make contributions on the projects that will be built on the Oasis Network. Binance Labs’ contribution led the Oasis ecosystem fund to go up to $200 million in size. Binance Labs is the venture capital and innovation incubation arm of Binance. It identifies, invests, and empowers viable blockchain entrepreneurs, start-ups, and communities and provides finance to industry projects that help grow the larger blockchain ecosystem.
Bill Chin, Head of Binance Labs Fund, said: “We are a true believer of Oasis’s vision and have been supporting the project since the early days. We are very excited to join the Ecosystem Fund as we believe that Oasis can advance Web 3.0 development due to its scalability and privacy-preserving features. Also, any project building on top of Oasis will also be part of the Web 3.0 innovation.”
The Oasis Ecosystem Fund is dedicated to powering the next wave of Oasis applications, including DeFi, NFTs, Metaverse, data tokenization, Data DAO, data governance, privacy applications, and more. The Oasis Network itself is scalable, making it the ideal network for DeFi applications due to its instant finality, 99% lower gas fees versus Ethereum, high throughput, privacy protection, and defense against MEV.
Jernej Kos, Director of Oasis Foundation, said: “We couldn’t be more thrilled that Binance Labs decided to dedicate such a significant contribution to our Ecosystem Fund. They are a valued partner, and together we can create new frontiers in the blockchain space.”
Oasis has reached a number of significant milestones in the last couple of months. Emerald, the EVM Compatible ParaTime, launched on MainNet. YuzuSwap, the first Decentralized Exchange (DEX) currently in development by a third-party team, which will allow DeFi users to experience the full power of the Oasis Network.