In the past two quarters, many selected projects have received investments from Binance Labs. Who will be the winner of the 7th quarter?
Author: Peng SUN, Foresight News
On the evening of March 1st, Binance Labs announced the 13 early-stage projects selected for the 7th season of the MVB Accelerator Program. The program, which lasts for 10 weeks, is jointly operated by BNB Chain and Binance Labs.
The selected projects of Binance Labs' MVB Accelerator Program are worth paying attention to. Let's first take a look at their past achievements:
- In the 5th season, Binance Labs invested in the decentralized domain name protocol Space ID, Web3 infrastructure Overeality, interoperable communication protocol Multichain Event Protocol (MEP), mobile strategy game Meta Apes, tokenized investment portfolio Velvet Capital, multi-chain open data analysis platform Web3Go, and casual gaming platform Gameta.
- In the 6th season, Binance Labs invested in the Ethereum scalability project AltLayer, perpetual DEX project KiloEx, lending protocol Kinza Finance, and AI-based blockchain virtual companion game Sleepless AI.
This means that Binance's MVB Accelerator Program consistently produces successful projects. Therefore, the 7th season is equally worth paying attention to. Foresight News has compiled a list of the 13 projects selected this season, covering three major tracks: DeFi, infrastructure, and application layer. Surprisingly, 6 of the selected projects are related to the concept of Web3 + AI. So, which ones among them are the most valuable?
DeFi
BitU
BitU is a native encrypted collateral stablecoin protocol that provides higher yields using off-chain liquidity and efficiency. Users can use the protocol to mint the encrypted native stablecoin BITU supported by major crypto assets. One of the components of the BitU protocol is the Active Liquidity Management Module (ALMM), which mainly addresses the interest rate difference between on-chain and off-chain stablecoin lending. It introduces trusted custody institutions (such as Fireblocks, BitGo, Coinbase, etc.), where users can deposit funds without worrying about centralized risks in CEX, and these funds will be mapped to exchanges through "OES" (off-exchange settlement) services. The ALMM revenue module utilizes on-chain trading activities to generate income and distribute the income back to on-chain users. ALMM also includes liquidity management, risk control, etc., to provide initial liquidity for BITU, responsible for BITU redemption and collateral asset release, and for risk management and portfolio liquidation.
BitU states that in the initial stage, the minting of BITU is limited to qualified whitelist partners who can use collateral to mint BITU.
Blum
Blum is a hybrid CeDeFi exchange where users can trade cryptocurrencies through a Telegram mini-program. Blum provides all the tokens users need without the need to switch between multiple platforms. Blum features off-chain order books, on-chain settlement, and centralized or self-custody options, and will also provide derivative trading services, including NFTs and pre-market tokens.
Surf Protocol
Surf Protocol is a perpetual contract trading platform based on Base, providing leverage trading, premarket trading, and point trading for low-market value tokens.
In October 2023, Surf Protocol completed a $3 million financing round, led by ABCDE Capital, with participation from Inception Capital (formerly OP Crypto) and C² Ventures.
Vooi
Vooi is a cross-chain perpetual contract DEX aggregator, currently supporting four DEXs: Orderly, SynFutures, GMX, and KiloEx. Vooi allows users to add balances after connecting their wallets and conduct gas-free transactions on-chain at the lowest cost. Vooi offers a maximum leverage of 100x and supports account abstraction, among other features.
Vooi was previously an L2 stablecoin exchange protocol designed to reduce slippage for stablecoin exchanges such as USDC, DAI, USDT for Layer2 users. Its mainnet currently only supports Linea. In addition, the VOOI tokenomics have not been released.
Infra
Aggregata
Aggregata is a DePIN-driven AI data storage project based on BNB Greenfield, which can create high-quality data and price it, and upload it to Aggregata's decentralized storage through Greendrive for Greenfield. The Aggregata market can share, sell, and find AI datasets, which can be activated and used within 5 seconds, providing instant access to AI environments, and earning tokens by contributing data.
Nesa
Nesa is a lightweight Layer1 for AI that uses on-chain ZKML for crucial AI inference requiring high privacy, security, and trust. Nesa introduces the AI Virtual Machine (AIVM) architecture, which is a unified execution environment connecting on-chain assets with off-chain activities, ensuring unified execution of AI models across the NES network. Nesa also proposes a privacy-centric decentralized inference protocol supported by Cosmos WASM-based ZKML, decoupling inference requests and responses using BIL technology to increase the overall network throughput. Subsequently, Nesa commits the computed inference results through a security committee and sends them on-chain, confirms consensus after aggregation and star voting in smart contracts, rewards and penalizes nodes, and ultimately conveys the consensus results to users.
The native token of Nesa is NES, with an initial inflation rate of 8% per year, decreasing by 8% annually to a final inflation rate of 1.8%. The initial total supply of NES is 1 billion, with 8.8% allocated for genesis airdrops and incentive testnets. The allocation of its incentive testnet will reward developers who have contributed to the Nesa ecosystem, developers building on Nesa, developers submitting their AI models for Nesa's use, and early miners lending their computing power. Rewards points can also be obtained by regularly submitting PayForQuery transactions on the system. NES can be used for AI model queries, staking mining, and governance participation. In addition, 11.2% of NES will be allocated for future incentives, 27.2% will be distributed to the Nesa Foundation, development team, and ecosystem incentives, 18.9% will be allocated to early supporters of Series A and B rounds, 15.8% will be allocated to early supporters of the seed round, and 18.1% will be allocated to team members.
The release date of NES has not been announced yet.
Nimble Network
Nimble Network is a composable AI protocol that allows AI agents, data providers, and computing resources to be combined and used for ML models and data. Currently, Nimble Network is creating atomic components for the protocol to expand into IP, creators, advertising, personalization, and chatbots, with applications in DeFi, DePIN, and GameFi.
Nimble Network is about to launch its mainnet and will introduce the Nimble Miner SDK for developers to mine. Nimble also stated that it will meet AI demand in the first quarter of this year and launch a market allocation mechanism and initiate infrastructure in the second quarter, followed by the coin launch. The token economics of Nimble are as shown in the following image:
Application Layer
Aspecta
Aspecta is an AI-driven digital identity ecosystem platform for developers, building an AI-generated identity system called Aspecta ID for developers and others to showcase, connect, and explore. By linking accounts in the Web2 and Web3 spaces, such as GitHub, Twitter, and wallet addresses, Aspecta ID includes AI-generated web pages, soul-bound tokens, and metaverse twins. Based on Aspecta ID, Aspecta identity holders can showcase insights into over 8000 skill aspects, hundreds of experience highlights, connect with like-minded peers globally, and gain access to exclusive DAOs, ecosystems, and applications.
In March 2023, Aspecta completed a $3.5 million seed round of financing. The seed round of financing for Aspecta consisted of two stages, with stage A completed in April 2022, with participation from institutions such as ZhenFund, YC China (now UpHonest Capital), UpHonest Capital, and Yale Alumni Fund. Stage B was completed in November 2022, with participation from Foresight Ventures, HashKey Capital, SNZ Holding, Infinity Ventures Crypto, and other institutions. In addition, Aspecta received strategic investment and donation support from projects and ecosystems such as Galxe, Mask Network, CyberConnect, and P12.
In July 2023, Aspecta completed a new round of strategic financing with participation from Spartan Group, with the specific amount not yet disclosed.
Aspecta is also a portfolio project of Foresight Ventures.
Holoworld
Holoworld is a decentralized AI virtual character market and social platform, allowing anyone to create intelligent AI robots with just a few clicks.
Opinion Labs
Opinion Labs is a dynamic public opinion and continuous prediction market, aiming to create a full-chain social infrastructure. Its first product, the full-chain opinion market and content community DApp AlphaOrBeta, ensures that opinions are disseminated, noticed, and rewarded. Users can share opinions and predictions on social media to earn ETH and airdrops. In January 2024, AlphaOrBeta received a grant and strategic support from the Mantle Ecosystem Foundation. In addition, Opinion Labs will launch a full-chain decentralized information and prediction market.
Opinion Labs plans to officially launch AlphaOrBeta in the first quarter of this year, launch AlphaOrBeta TG bot and MVP prediction market in the second quarter, release the Beta test version of the prediction market in the third quarter, and publish the Alpha version of the prediction market in the fourth quarter.
Side Quest
Side Quest is a gaming social platform founded in London in 2022, aiming to provide various gaming, rewards, food, and networking opportunities. Currently, the Side Quest community has over 130,000 international gamers and has established the largest gaming café brand in the UK.
Story Chain
Story Chain is an NFT application for AI storytelling. Users can create stories with unique chapters and art using LLM and image AI, and mint NFTs after submitting instructions to AI. Story Chain has a voting mechanism that allows users to collectively decide the direction of the story, and each contributed chapter will become an NFT.
Tilted
Tilted is a game asset marketplace for buying, selling, and trading game assets, skins, and NFTs on-chain, ensuring user ownership and achieving cross-game compatibility.
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