Binance Labs Incubation Program: It’s a Wrap For Season 3, Applications Now Open for Season 4!
Season 3 of Binance Labs Incubation Program has officially concluded with the highly anticipated BUIDLer Day
During the BUIDLer Day, all nine incubation projects pitched their products and progress to an audience of prominent global investors
The Binance Labs Incubation Program Season 3 just ended on a fantastic BUIDLer Day when the founders presented their product. The journey to support the most promising Web3 projects continues for Binance Labs, and Season 4 Incubation Program application is now open.
Binance Labs, the venture capital arm and innovation incubator of Binance, kicked off Season 3 of its Incubation Program back in November 2021. Out of over 400 applications received, Binance Labs selected nine projects that demonstrated the most potential. The 8-week journey was a period of learning and growth for the nine incubation projects. More than 30 industry leaders, from within the Binance ecosystem and the wider blockchain industry, were invited to mentor and provide guidance to the incubation projects as they BUIDLed.
Season 3 of the Binance Labs Incubation Program officially came to an end on January 25, with the highly anticipated BUIDLer Day. It was an invite-only pitch event, held virtually due to the circumstances, and was attended by more than 200 prominent global investors. The incubation projects pitched their products, including the progress they have achieved over the weeks. Overall, it was the perfect opportunity for the incubation projects to stand out.
Bill Chin, the Head of Binance Labs Fund, said: “The Binance Labs Incubation Program has always been about helping future industry leaders develop and find their product market fit in the global blockchain ecosystem. Regarding the pitches made during BUIDLer Day, it was heartening to see the product developments and progress that the incubation projects have achieved. We are extremely proud to be part of the incubation projects’ journeys and will be looking forward to seeing these projects drive the mass adoption of crypto in the near future.”
Celebrating the Achievements of the Incubation Projects
1. GAT Network
GAT Network is a web of connected NFT trading and gaming projects that has already launched several projects on the Binance Smart Chain. By being innovative and adaptable, the GAT Network team hopes to connect on-chain projects. GAT Network has already established a new generation marketplace for NFTs and crypto assets called the Minted Vodka NFT Exchange. Minted Vodka v1, launched in June 2021, has recorded over 100K deals and more than $1MM trading volume. Now, the GAT Network team is working hard at preparing the Minted Vodka v2 which will include amazing features that cannot be found elsewhere.
2. Copycat Finance
Copycat Finance is a decentralized copy trading and copy farming platform where innovative social trading meets the high-yield social farming revolution. The Copycat Finance team recognizes that DeFi trading can be complicated, and believes that their copy trading platform would be the perfect solution. So far, Copycat v1 performance has been remarkable, with over 10k users and $30M peak cross product TVL. Further improvements will be introduced to Copycat v2. Security is of the highest importance to the team, and their project has been audited by three specialist firms: CertiK, PeckShield, and Paladin.
3. Wombat Exchange
Wombat Exchange is a hyper efficient multi-chain stableswap. After studying the market, Wombat recognizes that many products are struggling due to a fragmented liquidity and an overly complicated interface. Wombat Exchange addresses these pain points by building a platform that is more capital efficient and user-friendly. Aside from gaining access to a simple, intuitive, and accessible swap interface, users also gain because Wombat’s solution is 40% more efficient than competition. Moving forward, Wombat Exchange aims to expand its market share and become the de facto stableswap leader on the Binance Smart Chain network.
4. SkyArk Studio
SkyArk Studio is a Singapore-based blockchain gaming studio. The team is planning to release a trilogy, consisting of two GameFi and one SocialFi Metaverse. The most interesting part is that users will only need one NFT to access all 3 titles. This is in line with SkyArk Studio’s belief that NFTs should be interoperable, editable and evolvable across different game titles and across multiple networks. Taking the advice of He Yi, the games by SkyArk Studio will also be fan-driven, making them more unique and fair. Moving forward, the team wants to build SkyArk into a mainstream IP because they believe that engaging with mainstream platforms will be best.
Raydius is a middleware solution designed to create a more connected blockchain ecosystem. The team at Raydius noticed that current cross-chain transfers have low usability, and Raydius set out to solve the pain points. Project highlights include connecting different blockchain ecosystems, being an all-in-one pass for Web3, and ensuring that the middleware layer is developer-friendly. For Raydius, the top priority has always been to support the future connection of different layer 1 blockchains and layer 2 platforms. By giving back control to the users, Raydius hopes to create a system that is economically secure for users and profitable for validators.
6. Mint Club
Mint Club is a smart token building platform without the need for coding or providing liquidity on the Binance Smart Chain. Anyone can create a smart contract-backed token on Mint.Club with a few simple clicks, thereby addressing several market pain points. Although social tokens make up less than 0.26% of the market share, the team emphasised that the number of token holders is sharply rising. As of mid-January 2022, there are 130K users and 2,700 tokens have been created on the Mint Club Protocol.
Bird is a new type of decentralized oracle that has the potential to revolutionize the blockchain industry. Bird is the first blockchain platform that mines a user’s unique on-chain activity for behavioural insights across multiple blockchains. In so doing, Bird is empowering Web3 developers to gain access to the same targeting capabilities that propelled Web2 to success. During the BUIDLer day, Bird shared about the live prototype model performance of the Launchpad Score. The team simulated a Launchpad Score is able to predict how long an investor will hold the wallet and who the long-term HODLers are with high accuracy (91.3%).
8. Block Ape Scissors
Block Ape Scissors is a play-to-earn ecosystem built on Binance Smart Chain (BSC), incorporating gaming, NFTs, and DeFi together into exciting, diverse and rewarding opportunities. The team’s approach to the Metaverse is unique, with diverse utilities for the NFTs, blended 2D and 3D experiences, feedback loop with high community involvements, and more. They also adopted a modular ecosystem that allows granular meta changes. The roadmap for Block Ape Scissors promises for a very exciting year, with big name partnerships/collaborations, game developments, and phased releases of their products.
9. Tranching Protocol
Tranching Protocol is a yield optimization and hedging protocol implementing tranches for yield farming. There are various gaps within the market, such as a lack of tranching tools in the DeFi world and absence of enhanced yield farming. Naturally, investors also have various risk-return profiles and might seek low-risk financial planning. Tranching Protocol overcomes the gaps and fulfills the needs with its smart contract. In fact, Tranching Protocol has a deep understanding of the technology and managed to simplify the process. Users using the protocol would only need to click several times to interact with the smart contract.
Season 4 of the Binance Labs Incubation Program
Now that Season 3 of the Binance Labs Incubation Program has concluded, Binance Labs is once again on the lookout for the brightest minds and the most promising projects in the blockchain space in upcoming Spring 2022
Ken Li, Investment Director at Binance Labs, said: “All three seasons of the Binance Labs Incubation Program have been very successful. Our past incubation portfolio includes Dune Analytics, Matic, Perpetual and Injective Protocol. We believe that Season 4 will be even better. Our hope is to be able to continuously improve the experience and outcomes for our program, especially our ability to create unique value for the founders we partner with.”
What do developers and startups gain from participating in Binance Labs Incubation Program?
Seed Investment: Fundings are provided on a case-to-case basis.
Mentorship: Excellent mentors with both crypto and general start-up experiences are regularly invited to offer tailored and dedicated guidance and provide advice to the program founders one-on-one.
Extensive Network: Startups are connected with a vast network of industry leaders and investors in the crypto space. The program also facilitates current and future batch-mates to work closely together during the incubation period.
Holistic Support: Program founders are provided with resources which assist them with startup formation, recruiting, technical execution, fundraising, marketing/PR and other value add services.
Interested to be part of Season 4? Apply here now.
Find out more about the Binance Labs Incubation Program and the ample opportunities provided to the startups through the following blog posts:
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Disclaimer: The incubation projects are in collaboration with Binance Labs only. Binance exchange currently bears no responsibility and is not connected to any of their future release of tokens (if any).