Binance Labs invests in 200 million USD fund for Oasis blockchain

Binance Labs has participated in the contribution of 200 million USD for Oasis Blockchain Ecosystem Fund. These funds will be used to make contributions on the projects that will be built on the Oasis Network. Binance Labs is the venture capital and innovation incubation arm of Binance.

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.