On January 28, 2025, YZi Labs, the newly rebranded arm of Binance Labs, announced an investment in Sign Protocol, a blockchain-based token airdrop service. The funding, amounting to $16 million, was supported by Binance founder Changpeng Zhao.
What is Sign Protocol?
Sign Protocol is an 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. Since its founding in 2021, Sign Protocol has garnered trust from over 200 projects, including major names like Starknet and Movement.
How Does Sign Protocol Work?
Sign Protocol offers a scalable solution for claim verification on the blockchain. Key features include:
- **Omni-Chain Attestation**: Support for multiple blockchains for cross-platform compatibility. - **Off-Chain and On-Chain Modes**: Data storage options on Arweave or directly on blockchain based on needs. - **Verifiable Consent**: Use of cryptographic proofs for consent verification. - **Privacy Features**: Passwordless private attestations for protecting sensitive data.
Future of Sign Protocol Post-Investment
With fresh funding, Sign Protocol plans to expand its partnerships with centralized exchanges and governments, integrate AI-driven applications, and launch its native token. This is expected to bolster the Sign ecosystem and continue driving blockchain adoption through secure token distribution.
With increased funding, Sign Protocol is poised to strengthen its impact in the blockchain sector. Its technology plans to accelerate blockchain adoption and simplify the token distribution process.
