The sixth phase of the Binance Incubator, which lasted for two months, has officially concluded. Initially, there were 12 startup companies in this phase, and ultimately, Binance invested in seven of them.
Derivio is a structured derivatives ecosystem that provides synthetic derivatives. It offers risk-adjusted returns for traders through intelligent leverage and provides sufficient liquidity pools for cryptocurrency operators to effectively hedge. Derivio launched its mainnet on zkSync Era in November last year. The DRV token of Derivio has not yet undergone a TGE, and its token economics have not been made public.
Since its launch, Derivio has provided two main tools. The first is digital options, which allows Derivio to provide digital options for any asset with price information. This means that tokens, RWAs, and even block space can be speculated using Derivio’s digital options. The other major product is perpetual contracts. Trading of perpetual contracts and options will be supported by a liquidity pool that includes all supported assets. Any two assets in the liquidity pool can form a perpetual futures market, enabling so-called paired trading.
Ethena is a decentralized stablecoin protocol based on Ethereum. Its developer, Ethena Labs, has raised $20.5 million in two rounds of financing, with a post-investment valuation of $300 million. Investors include Dragonfly, Brevan Howard Digital, Maelstrom, Binance Labs, Franklin Templeton, Fidelity, Deribit, OKX, Gemini, Arthur Hayes, and others. In February this year, Ethena Labs launched its public mainnet and incentive activities and launched its stablecoin USDe, which minted over $287 million worth of USDe within 24 hours of its release. As of March 9, 2024, the supply of Ethena’s USDe stablecoin has exceeded $845 million, making it the sixth largest USD-pegged stablecoin.
Ethena describes USDe as a synthetic dollar that largely mimics algorithmic stablecoins. These tokens aim to be pegged to $1 and are minted as ETH is deposited into the platform. There are two sources of supply: 1. Depositing ETH to validators and receiving 5% capital gains. 2. Shorting ETH futures to earn financing rates estimated to be above 20% based on historical models. Users can receive Ethena’s USDe by depositing stablecoins such as Tether (USDT), frax (FRAX), dai (DAI), Curve USD (crvUSD), and mkUSD, and then they can stake them. Unstaking takes 7 days. The staked USDe tokens can be provided to other DeFi platforms to earn additional income.
Shogun is an intent-driven protocol that aims to maximize traders’ extractable value (TEV) by optimizing order flow and complete chain abstraction. Shogun connects liquidity from other chains to Berachain through its intent infrastructure to provide CEX-like trading with DeFi advantages.
UXUY is a decentralized trading platform based on MPC wallets that reduces the threshold for use by providing users with solutions that are mnemonic-free and gas-free. UXUY creates a gas solution called GasPool by providing social trading features, offering users a CEX-like trading experience, and significantly reducing on-chain transaction thresholds. UXUY is currently connected to public chains and Layer 2, such as Bitcoin, Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, and Base.
UXUY completed a $3.2 million seed round of financing in April last year, with participation from Bixin Venture, WaterDrip Capital, KuCoin Ventures, Pionex, LK Venture, Arcane Group, Daoverse Capital, Lapin Digital, and others.
Cellula is a fully on-chain artificial life simulation game that defines the interactions between cells based on the rules of Conway’s Game of Life and allows them to evolve autonomously on the blockchain. Using the game’s workstation, players can freely create various genetic sequences to give birth to their own on-chain life forms. These life forms have unique appearances and attributes, showcasing diverse life forms. “Cell” is the basis of the Cellula game and is a genetic fragment of the organisms in the Cellula world. Some cells have strong vitality, while others have weak vitality. Cells can splice and synthesize powerful organisms on the synthesis platform according to certain rules. There are a total of 512 types of cells, with 10 variations each, resulting in a total of 5,120 cell groups.
NFPrompt is an AI-driven NFT art generation platform that allows users to generate dynamic and intuitive digital content, such as images, videos, animations, PFP avatars, music, and 3D models, through AI tools. As of March 9, NFPrompt has accumulated over 5.11 million creators, generating nearly 3.2 million NFT artworks.
The NFP token of the NFPrompt platform has an initial issuance of 1 billion and can be used for staking to share platform fees, pay for creation and promotion activities, community events, and governance. In December last year, NFPrompt (NFP) launched on Binance’s new coin mining Fair Mode in the 41st phase. The current price of NFP is around $1, with a growth rate of over 25% in the past week, and a fully diluted valuation (FDV) exceeding $1 billion.
QnA3 Bot is an AI-driven Web3 knowledge-sharing and search platform that helps users achieve their intentions through “Q&A,” “technical analysis,” and “real-time trading” features. QnA3 provides AI-powered Q&A services by leveraging its SOTA model’s ability to understand user queries and its proprietary Web3 industry knowledge graph. It aims to help users build and browse market hotspots, eliminate information asymmetry, and develop investment logic. In addition, QnA3 also provides real-time cryptocurrency technical indicators and a vast market news database to provide users with detailed technical analysis to help them understand market trends.
The GPT token of QnA3 unlocks AI features and grants users governance capabilities. It was listed on exchanges including OKX at the end of February, with a current price of around $0.7 and a growth rate of approximately 25% in the past week, with a fully diluted valuation (FDV) exceeding $700 million.