- 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 Binanceโs venture capital and incubation arm, which identifies and supports innovative blockchain and Web3 projects through direct investments. The firmโs S6 Incubation Program started in September last year and features 12 projects.
First Group of Binanceโs 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 โemerging standards such as NFT, inscription and 404.โ
Shogun is a promising decentralized exchange aiming to โmaximize trader extractable value (TEV) via optimized order flow and complete chain abstraction.โ
Binanceโs S6 Incubation Program is a testament to the exchangeโs 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.
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 Binanceโs Web3 wallet:
Binance Debuts User-Friendly Wallet for Web3 Adoption
