On January 28, 2025, YZi Labs, the newly rebranded arm of Binance Labs, announced a $16 million investment in Sign Protocol, a blockchain-based token airdrop service. The investment is supported by Changpeng Zhao (CZ), the founder of Binance.
What is Sign Protocol?
Sign Protocol is a cutting-edge omni-chain attestation protocol that enables users to verify and attest information on the blockchain. It focuses on creating a more transparent, secure, and efficient token distribution infrastructure for both humans and AI agents. Since its founding in 2021, Sign Protocol has emerged as a leader in the token distribution sector, with its services being trusted by over 200 projects, including major players like Starknet, Movement, and ZetaChain. In 2024, Sign’s revenue soared from $1.7 million in 2023 to $15 million.
How Does Sign Protocol Work?
Sign Protocol offers a scalable solution for verifying claims and assertions on the blockchain. The protocol supports multiple blockchains, offering a chain-agnostic platform for issuing attestations. This allows users to verify claims or credentials across different blockchain networks, including EVM-based chains, Starknet, Solana, and TON. It provides two modes for storing attestations: on-chain and off-chain. It also supports zero-knowledge proofs, digital signatures, and other cryptographic methods to verify consent.
Why Did Sign Protocol Attract Investors?
With fresh funding, Sign Protocol plans to expand its partnerships with centralized exchanges and governments, integrate AI-driven applications, and launch its native token. These steps will help bolster Sign’s ecosystem and continue driving blockchain adoption through secure token distribution and credential verification.
Sign Protocol aims to simplify the token distribution process, which will allow the onboarding of users from traditional internet platforms into the blockchain-based Web3 world. This is particularly crucial for the mass adoption of blockchain technology.
