Binance Labs Backs the Oasis Ecosystem Fund to Support the Projects Building on Oasis Network
The Fund now has $200 million available to invest in projects building on the Oasis Network.
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Binance Labs announced to participate in the Oasis Ecosystem Fund to make contributions on the projects that will be built on the Oasis Network. Binance Labs’ contribution led the Oasis ecosystem fund to go up to $200 million in size. Binance Labs is the venture capital and innovation incubation arm of Binance. It identifies, invests, and empowers viable blockchain entrepreneurs, start-ups, and communities and provides finance to industry projects that help grow the larger blockchain ecosystem.
Bill Chin, Head of Binance Labs Fund, said: “We are a true believer of Oasis’s vision and have been supporting the project since the early days. We are very excited to join the Ecosystem Fund as we believe that Oasis can advance Web 3.0 development due to its scalability and privacy-preserving features. Also, any project building on top of Oasis will also be part of the Web 3.0 innovation.”
The Oasis Ecosystem Fund is dedicated to powering the next wave of Oasis applications, including DeFi, NFTs, Metaverse, data tokenization, Data DAO, data governance, privacy applications, and more. The Oasis Network itself is scalable, making it the ideal network for DeFi applications due to its instant finality, 99% lower gas fees versus Ethereum, high throughput, privacy protection, and defense against MEV.
Jernej Kos, Director of Oasis Foundation, said: “We couldn’t be more thrilled that Binance Labs decided to dedicate such a significant contribution to our Ecosystem Fund. They are a valued partner, and together we can create new frontiers in the blockchain space.”
Other key partners who participated in the Oasis Ecosystem Fund include:
- AME Cloud Ventures
- Dragonfly Capital Partners
- Draper Dragon
- Electric Capital
- FBG
- Hashed
- Jump Capital
- Kenetic Capital
- NGC Ventures
- Oasis Foundation
- Pantera Capital
Oasis has reached a number of significant milestones in the last couple of months. Emerald, the EVM Compatible ParaTime, launched on MainNet. YuzuSwap, the first Decentralized Exchange (DEX) currently in development by a third-party team, which will allow DeFi users to experience the full power of the Oasis Network.
To learn more about the Oasis Ecosystem Fund, click here.
About Oasis
Oasis is the leading decentralized, privacy-enabled, and scalable layer-1 blockchain network. Combined with its high throughput, low gas fees, and secure architecture, the Oasis Network can power scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Oasis has many key backers including Andreessen Horowitz, Accel, and Binance Labs, and has several projects already building on its network & partners such as the CryptoSafe Alliance with Binance, The BMW Group, Chainlink, Balancer, and others. Oasis is among the top three invested blockchains and has one of the fastest-growing developer networks in the industry.
About Binance Labs
Binance Labs identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities, providing financing to industry projects that help grow the larger blockchain ecosystem. Binance Labs is committed to supporting fast-executing teams who positively impact the crypto space. For more information, visit https://labs.binance.com/.
