New Binance Labs and Launchpad Protocol Projects Unveiled

New Binance Labs and Launchpad Protocol Projects Unveiled

Two separate arms of the exchange platform, Binance, Labs and Launchpad, have both released details about the latest projects they will be overseeing.

While it is nothing new to see new projects come out of the Binance Camp, traders and crypto enthusiasts have seen double bubble from the platform at the latter end of this week. As we go into the weekend, let’s take a look at what these projects from Labs and Launchpad look like.

Binance Labs Complete Fundraising to Launch FIO Protocol

During a Series A1 funding round that was led by Binance Labs, $5.7 million was raised by them and other investors was raised in order to support the new project from, Dapix Inc, FIO Protocol (

These funds will now go toward the initial development of the protocol in a bid to get it off the ground. “We are humbled by the overwhelming support we’ve received from FIO Members, investors and Binance, who share our vision of improving usability and achieving mass adoption.” Said, Founder and CEO of Dapix Inc, David Gold.

The FIO Protocol is defined as an “industry-standard, decentralized service layer that improves usability across every blockchain, token or coin”, which aims to become the industry-wide usability standard.

The protocol will be guided by an “expanding consortium” of leading wallets, exchanges and cryptocurrency payment processors, known collectively as the Foundation for Interwallet Operability (FIO). Ella Zhang, Head of Binance Labs, expressed the firm was “delighted to advance blockchain usability as the lead investor in the development of the FIO Protocol.”  

Launchpad To Host Band Protocol Token Launch

Meanwhile, Binance Launchpad is gearing up for their 9th project of the year, another protocol known as Band. Band Protocol is essentially at the next stage of development, having already raised USD$3 million in seed investments from 3 different lead investors.

The protocol provides decentralized data governance on big-name public blockchains like Ethereum and EOS and the most secure and scalable option which DApps can rely on for trusted data. Via its use of smart contracts, it allows users to leverage existing data while maintaining important security aspects. Thus, bridging the use cases between Web 2.0 and 3.0.

This emphasis on smart contracts to ensure security is a response to the weakness shown in the more conventional system, the trusted oracle, which has proven to limit the scaling capabilities available. As CEO of Band Protocol, Soravis Srinawakoon, explained, “Band Protocol provides a compelling alternative for projects to solve this, with an infrastructure middleware layer protocol that facilitates faster, cheaper, more secure, easier-to-integrate oracles for blockchains.”

The system offers economic incentives via the use of an integrated dataset token mechanism, with shares similarities with the Delegated Proof of Stake (dPoS), which is in place to guarantee integrity. To ensure that only the top providers are able to contribute data to the dataset, it is the token dataset holders who elect the data providers by staking their own tokens in the name of candidates.

The token sale, which will make use of an updated version of their lottery system, will go live next week on September 16, 2019, at 06:00 UTC, at Binance when ticket claim will begin.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

1xBit Guide: Crypto Sportsbook & Casino

The casino and sportsbook industry continues to witness an increase in the number of platforms within the space. This creates a challenge of identifying the best and most reliable sportsbooks that will offer you the most impressive services. In this guide, 1xBit shall be reviewed in terms of its service offerings and unique features that […]

11 January, 2022

XBE Community Launches a $500k Bug Bounty

Decentralized technology is built to attract the smartest and brightest brains from all over the world to work towards a common goal: free and fair financial systems. Despite the uncertainties surrounding future laws, DeFi protocols are rapidly adapting and growing to provide new ways for individuals to obtain more value from their money. And this […]

28 December, 2021

11 Biggest Sponsorships Deals for the Crypto Market in 2022

The global sports industry is looking to revamp its activities and recover from the after-shocks of the COVID-19 pandemic. Cryptocurrency platforms on the other hand have enjoyed immense growth and are searching for big platforms that can provide better brand visibility. That’s where sports and crypto make a perfect match with many global sports organizations […]

1 December, 2021

ChangeNOW Unveils a New Cashback Feature

ChangeNow offers crypto users smooth exchanges and doesn’t stop there. The exchange platform provides registered users a chance to profit from crypto swaps with cashback in NOW tokens through the ChangeNOW website. The cryptocurrency exchange and processing platform offer you an effortless way to turn your traffic into profit and boost your crypto journey. The […]

15 November, 2021

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Celsius Casino has become a go-to gaming destination for casino fans looking for an action-packed online gaming platform. The online casino boasts a robust game catalogue with over 4,000 games. The extensive game portfolio caters to Slots, Table Games, and Live Casino fanatics and is powered by well-known providers such as Evolution Gaming, NetEnt, and […]

9 November, 2021

ChangeNOW Has Announced the Release of its Own Digital Wallet

Limitless and swift crypto exchange platform ChangeNOW has released its own non-custodial NOW Wallet, facilitating fiat to crypto purchases and reliable crypto transactions from the comfort of a mobile phone. NOW Wallet is available in beta version for both iOS and Android devices and allows users to transact with over 20,000 currency pairs, regardless of […]

29 October, 2021

BitPanda Enhances Its BEST Rewards Programme

The EU-based cryptocurrency exchange, BitPanda, has improved its loyalty programme, BEST Rewards. It is now providing owners of its BitPanda EcoSystem Token (BEST) an additional 12% in potential revenue each year. Every registered BitPanda user who has BEST in his or her wallet and carries out at least one monthly trade will be eligible for […]

25 October, 2021

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021