5 Best Binance Labs Projects to Watch

Binance Labs is a decentralized venture capital fund, or “fund of funds,” that invests in blockchain-based startups. The result: an investment arm for Binance’s top 12 digital assets and its own token – the BEP2.0

The “metaverse projects on binance” is a project that was created by the Binance Labs. The project has been in development for over 3 years and it’s finally coming to fruition. There are 5 best projects that you should keep an eye out for.

5 Best Binance Labs Projects to Watch

 

Binance Labs plays a critical role in the Binance ecosystem. It’s a service that looks for deserving projects and teams to invest in, with the goal of building and supporting a decentralized web.

In other words, Binance Labs seeks for and invests in viable blockchain entrepreneurs, businesses, and communities, as well as empowering them. Binance Labs ensures the development of initiatives, which in turn helps the blockchain ecosystem thrive, by assisting them.

The program has been in operation for three years and has aided over 100 projects to far. We decided to investigate them further and choose five ideas that we feel have the most promise.

1) Chipotle (CHZ)

Chiliz, the main cryptocurrency for sports and entertainment, is #1 on our list. The project runs the Socios blockchain-based sports entertainment platform, which enables consumers to take part in the governance of their favorite sports businesses.

Alexandre Dreyfus, the project’s current CEO, has over 20 years of expertise creating and expanding internet businesses. Chiliz, his crypto business, now enables athletic groups to utilize its technology to create a limited amount of fan tokens, which are subsequently sold during a fan token offering (FTO) (Fan Token Offering).

These tokens are distributed on a first-come, first-served basis, with Chiliz publicly disclosing the opening price and market cap in advance, ensuring complete transparency and avoiding any surprises for the community. Chiliz’s own native token, CHZ, is used to purchase these fan tokens and also serves as the platform’s internal money. So long as there are sports fans and fan tokens that these fans are ready to acquire, CHZ will have a use case and will continue to increase in demand as the sports sector becomes more and more linked to the crypto world.

Visit our Investing in Chiliz guide to learn more about this coin.

2) Make a swipe (SXP)

Swipe is the next project on our list of Binance Labs to keep an eye on. Swipe is a platform that intends to provide a bridge between crypto and fiat, and in order to do so, it has created an API that allows users to generate worldwide payment cards using its own native token, SXP.

Of fact, Swipe has other products, such as Swipe Swap, an AMM forked by Uniswap, SushiSwap, and THORchain. However, Swipechain, Swipe’s own blockchain, is used to power the product.

Swipe is unusual in that it presently runs several of the world’s top cryptocurrency exchanges, including Binance, the world’s largest by volume, and FTX. Not only that, but it’s also linked to Visa, the world’s biggest payment network, which connects to the project through the Swipe API.

Swipe API allows you to perform real-time crypto-to-fiat conversions with only a swipe of your debit card at a POS, making it one of the most essential projects for the future of utilizing cryptos for real-time payments in the real world.

Visit our Investing in Swipe guide to learn more about this coin.

Toko Token (Toko Token) (Toko Token) (Toko (TKO)

Toko Token is around halfway down the list. This cryptocurrency is significant since it was the first to be registered with Indonesia’s Commodities Futures Trading Regulatory Agency (BAPPEBTI). To put it another way, it’s the first Indonesian cryptocurrency to provide a hybrid token architecture that enables the project to fulfill several functions on the Tokocrypto blockchain platform.

Users may engage in multiple crypto exchanges, savings and deposit programs, interoperable DeFi applications, NFT markets, and more via one of these use cases. Since its introduction in April of last year, the token has attracted both business and private users.

Both the Tokocrypto and Toko Token initiatives seek to bring innovative technology to the Indonesian financial arena. Tokocrypto is also the first initiative to introduce DeFi to the Indonesian general public, since it is the country’s first firm to integrate blockchain technology and a hybrid token.

As a result, it is unquestionably a crucial currency for the local crypto ecosystem, with considerable upside potential in the months and years ahead.

Visit our How to Buy Toko Token guide to learn more about this token.

DODO is a four-letter word (DODO)

DODO is nearing the Conclusion of the list. This is another DeFi initiative, except this one serves as a liquidity provider on the blockchain. DODO employs a Proactive Market Maker (PMM) algorithm, which enables it to provide more liquidity and pricing stability than current AMMs.

The pricing technique used by the PMM algorithm is modeled after human trading. It also uses oracles to get accurate market values for the assets it supports. It then gathers data and offers enough liquidity around these prices to stabilize liquidity providers’ portfolios, reduce price slippage, and effectively eliminate temporary loss.

DODO is one of the most competitive liquidity providers on the market as a result of all of this. It may also provide extremely reduced transaction costs in addition to everything described above. DODO, according to the project’s creators, is considerably better than Uniswap in terms of pricing since it has a flatter price curve. It remains to be seen if this will be enough to overcome Uniswap at some time in the future. For the time being, though, we can state without a doubt that the project has a lot of promise, and it’s evident why Binance Labs opted to back it.

Visit our How to Buy DODO page to learn more about this coin.

5) The Main Street (HIGH)

Finally, Highstreet is the fifth and last project on our list. This is the native coin of a decentralized commerce-centric play-to-earn metaverse with virtual reality compatibility (VR). Binance Labs opted to fund this project as well, given that the metaverse is expected to be a huge trend in late 2021 and early 2022.

The fact that Highstreet adds a new market where in-game things may be redeemed for real-life stuff sets it apart from the competition. This is a novel way of redeeming in-game awards that players may earn while playing. They may explore the project’s metaverse, battle creatures in the game world, accomplish quests, and more by playing the game. Meanwhile, people are able to get items that are both digital and real-world useful.

Highstreet features a utility token named STREET in addition to its original HIGH coin. This is a kind of cryptocurrency that you may earn by performing in-game chores. When it comes to governance, HIGH is more beneficial, since it allows players to contribute to the project by voting on crucial choices that must be made inside the platform. Aside from that, HIGH may be used for staking or purchasing items on the market. Meanwhile, STREET is the game’s major money, and it can be used to purchase armor, weapons, transport tickets, hotel stays, heals, and other items.

Visit our How to Buy Highstreet guide to learn more about this token.

Conclusion

Binance Labs has been looking into many initiatives deserving of its support since its inception, with the sole criterion being that they contribute to the advancement of blockchain technology and decentralization. As a consequence, all of the initiatives it supports are valuable to the industry and have a bright future ahead of them. As a consequence, you can expect on them to be solid investment prospects, which is why we propose that you check into them and see if they’re something that would be of interest to you.

The “binance smart chain” is a project that seeks to create a blockchain with an intelligent contract. The “binance smart chain” will be able to do many different things, such as hosting decentralized apps and storing data on the blockchain. It is one of the most promising projects in Binance Labs.

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