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.

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News


Cryptocurrency Market Cap Jumps Past $2 Trillion

Cryptocurrencies continue to make headline news around the world as the total market cap surpassed $2 trillion on Monday. Supported by increased interest from institutional investors, celebrities, and retail investors, digital coins are now worth more than Apple Inc. Bitcoin has, once again, played a major role in the sector’s market cap. The world’s first […]

6 April, 2021
Digital Currency,Ethereum,Stablecoin

VISA Set To Support Cryptocurrency Settlements

The global payments corporation, VISA, announced on Monday that it is making preparations to allow USD Coin (USDC) to settle transactions within its network. This move is being viewed by industry analysts as yet another clear sign that cryptocurrencies are being accepted by major institutions within the traditional financial industry. USDC was selected by VISA […]

30 March, 2021

CasinoFair Temporarily Shuts Down Amid Network Congestion

The popular cryptocurrency casino, CasinoFair, has announced in a recent blog post that it will be temporarily stopping its gaming services. Citing unsustainable congestion on the Ethereum network as the main reason for this pause, the casino reassured its players that it is “actively researching solutions and hope to be back with a new range […]

26 March, 2021

Significant Bitcoin Drops As Coinbase Announces IPO

The cryptocurrency market is back in turmoil following yet another volatile week where Bitcoin almost reached a record-breaking value of $60,000. Bitcoin drops are nothing new, but the recent 25% decrease has caused panic amongst even traders with an experience of major currency fluctuations. The latest drop comes as Coinbase, one of the world’s largest […]

1 March, 2021

Trezor Warns Users About Fake Mobile App

Trezor is warning users of a malicious mobile application featured on Google Play which appears to be associated with the wallet provider. At least 1,000 users have already downloaded this software, and it is likely that some have unwittingly provided their seed phrase to unlock their funds. Both Trezor and SatoshiLabs have confirmed the existence […]

26 January, 2021

eToro Temporarily Raises Minimum Deposit To $1,000

For the past few weeks, the increase in Bitcoin’s price has led to a massive interest in cryptocurrency trading. eToro has been overwhelmed by new registrations and has decided to temporarily raise the minimum deposit from $200 to $1,000. Although 2021 has barely gotten started, it promises to be an exciting time to invest in […]

11 January, 2021

Global Cryptocurrency Market Value Surpasses $1 Trillion

Thursday has proven to be a monumental day for cryptocurrencies as the world’s combined value tops the $1 Trillion mark. Energised by a substantial rise in the value of Bitcoin in recent months, the volatile crypto market has reached a once-unreachable value. Following the latest Bitcoin Halving in May 2020, the world’s largest digital token […]

10 January, 2021

Victory over virus: SiGMA Virtual Expo hosts 100+ exhibitors

SiGMA Europe and AIBC Virtual Expos launch with record breaking attendance, providing a cure to the industry’s events sector In the light of this year’s changes in our everyday lives, SiGMA was close to having to stop doing what it does best; creating networks for people through the company’s iconic physical events, but luckily, the […]

26 November, 2020