Binance Labs Unveils First Batch of S6 Incubation Projects

Binance Labs has named three projects in the first batch of its Season 6 Incubation Program.

by . Fact checked by: Ciaran Lawler, Editor: Stefan Trapp
Published:
People gathering around Binance.
Created by Kornelija Poderskytė from DailyCoin
Google News Follow Button
  • Binance Labs has announced a development in the S6 Incubation Program.
  • The company named three projects in the first batch of the program.
  • The projects will receive comprehensive support and resources.

Binance Labs announced on Thursday the first batch of its investment initiatives under Season 6 (S6) of the Incubation Program.

Founded in 2017, Binance Labs is Binance’s venture capital and incubation arm, which identifies and supports innovative blockchain and Web3 projects through direct investments. The firm’s S6 Incubation Program started in September last year and features 12 projects.

First Group of Binance’s S6 Incubation Projects

In an announcement made on February 15, Binance Labs unveiled three pioneering projects selected in the first batch of its S6 Incubation Program. The projects include Ethena Labs, NFP, and Shogun.

Sponsored

Per the statement, Ethena Labs is a derivative infrastructure provider aiming to transform ETH into the first crypto-native yield-bearing stablecoin while NFP is a User-Generated Content platform for “emerging standards such as NFT, inscription and 404.”

Shogun is a promising decentralized exchange aiming to “maximize trader extractable value (TEV) via optimized order flow and complete chain abstraction.”

Binance’s S6 Incubation Program is a testament to the exchange’s commitment to supporting budding projects in the DeFi ecosystem. Through the initiative, Binance seeks to provide the selected projects with comprehensive support and resources, empowering them to foster responsible innovation in the broader blockchain landscape.

Sponsored

Binance Labs has incubated over 50 projects, including Polygon, Injective Labs, and SafePal. The company has also supported several other known projects in the crypto industry, including Trust Wallet, Mysten Labs, Optimism, Aptos, and Celestia.

Read how Binance Labs distanced itself from SkyArk Chronicles funding:
Binance Labs Denies Leading SkyArk Chronicles $15M Funding Round

Read about Binance’s Web3 wallet:
Binance Debuts User-Friendly Wallet for Web3 Adoption

DailyCoin Newsletter

The hottest crypto news, straight to your inbox!

newsletter icon

Get a daily dose of crypto stories in a quick read with a tongue-in-cheek twist! Suitable for everyone, from crypto newbs to battle-tested veterans.

      You can easily unsubscribe at any time. Spoiler Alert: You won’t want to!

      This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

      Tags
      Author
      Brian Danga
      Brian Danga

      Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.