The top four performing projects from the Binance accelerator program in 2023 have received investment from Binance. The venture capital and incubation arm of Binance, Binance Labs, announced this following the conclusion of the MVB program season six in June 2023.
The MVB program is an accelerator program targeted at improving and growing the BNB chain ecosystem. The program includes a curriculum that involves addressing the needs of web3 founders.
High-potential projects that are building solutions to scale the current web3 infrastructure and onboard the next wave of users should be supported. The move by Binance shows its commitment towards giving support to projects building the foundation for a sustainable ecosystem.
Specifically, the vision of Binance Labs “is to empower and back early-stage founders who are committed to building long-term innovative projects,” said Yi He, Co-Founder of Binance and Head of Binance Labs. She added that the MVB Program provided a ground to identify four high-performing projects for investment across various sectors.
AltLayer, KiloEx, Kinza, and Sleepless AI are the four selected projects out of over 1,400 initial applications. The solutions offered by the four MVB projects selected for investment fall into three categories: Rollup platform, DEX risk management, Defi security, and AI. AltLayer, KiloEx, Kinza, and Sleepless AI are the four selected projects.
About the MVB projects selected for investment
- AltLayer is a decentralized protocol that offers a no-code Rollups-as-a-Service dashboard on its Beacon Layer.
- KiloEx is a user-friendly DEX emphasizing risk management and speed, catering to liquidity providers.
- Kinza is a DeFi lending protocol with a dynamic interest rate curve and a focus on security.
- Sleepless AI is an AI-based blockchain game, creating interactive story-driven experiences with characters, starting with the game HIM featuring on-chain characters.
In the program, founders in attendance received 1-on-1 mentorship from the Binance Labs Investment team, its portfolio founders, Chengpeng Zhao “CZ,” and Yi He.
Binance Labs has also announced the new season of the Binance Labs Incubation Program open to startups in the Infrastructure, Tools & Middleware, DeFi, and Application Layer categories.
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