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. This initiative is supported by Binance founder Changpeng Zhao (CZ).
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 on the blockchain. The team states that in a world where trust isn’t enough, Sign’s attestation protocol enables secure and decentralized claim verification.
Key Features of Sign Protocol
Sign Protocol supports multiple blockchains, offering a platform for issuing attestations. The protocol provides two modes for storing attestations: on-chain and off-chain. Additionally, it supports zero-knowledge proofs, digital signatures, and other forms of cryptographic proofs to verify consent, ensuring broad compatibility. The protocol also enhances privacy features, such as passwordless private attestations.
With new funding, Sign Protocol plans to expand its partnerships with centralized exchanges and governments, integrate AI-driven applications, and launch its native token. This will bolster Sign's ecosystem and continue advancing blockchain adoption through secure token distribution and credential verification.
