Key Points
Binance Labs recently unveiled the inaugural selection of projects approved for Season 7 Incubation. The initial cohort consists of Astherus, Cycle Network, Dill, and Eigen Explorer.
In a release via X, Binance Labs introduced the first wave of projects granted admission into Season 7 Incubation. Specifically, the following projects were highlighted:
- Astherus
- Cycle Network
- Dill
- Eigen Explorer
Binance Labs clarified the distinction between Incubation admission and Labs investments and elaborated on the specifics of the initial projects. Astherus acts as a liquidity center for staked assets like liquid staking tokens and liquid restaking tokens. Cycle Network offers a universal and secure chain abstraction for an aggregate liquidity network across various blockchains. Dill stands out as a highly scalable data availability network aligning with the Danksharding roadmap. Eigen Explorer emerges as Eigen Layer's premier native DeFi protocol.
Moreover, the announcement emphasized that application submissions for the program are ongoing and will be evaluated continuously.
Binance Labs Incubation Program
In March, Binance Labs initiated applications for Season 7 of its Incubation Program. Targeting early-stage entrepreneurs developing innovative Web3 projects, the program boasts a tailored curriculum with one-on-one mentorship from the Binance Labs Investment team and access to Binance's ecosystem resources.
The official statement highlighted that application reviews, founder interviews, and acceptance decisions will be conducted on a rolling basis, with project notifications sent via email.
Season 6 of the Incubation Program featured a low acceptance rate, with only 3% of applicants earning a spot in the program. The previous season concluded with 12 project teams selected across DeFi, infrastructure, and AI sectors, with 7 standout teams receiving investments from Binance Labs.
Through the Incubation Program, Binance Labs issues a Request for Startups (RFS) in categories like infrastructure, DeFi, and application layer.
The two-month program commenced in May following the selection of the new cohort. Additionally, in June, Binance Labs and BNB Chain jointly introduced the BNB Incubation Alliance (BIA), aimed at supporting Web3 innovation.
