2024

Unify

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Binance Labs invested in the leading L1 solution Particle Network.</li> 
 <li>The aim is to address user and liquidity fragmentation in Web3.</li> 
</ul> 
<p>Binance’s venture capital and incubation arm, Binance Labs, has just invested in Particle Network, the L1 solution for unifying all chains via Universal Accounts, addressing user and liquidity fragmentation in Web3.</p> 
<p>Binance Labs’ portfolio covers more than 250 projects from over 25 countries across six continents.</p> 
<p>Particle Network shared the partnership announcement via their X account:</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Proud to announce <a href="https://twitter.com/BinanceLabs?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@BinanceLabs</a> as our latest investor.</p> 
 <p>Web3 is rapidly entering the era of chain abstraction. Our ecosystem is coming together to deliver a maximally simple, borderless experience.</p> 
 <p>One account, one balance, any chain. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2728.png" alt="✨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/731DTeJxbe" rel="nofollow" target="_blank">https://t.co/731DTeJxbe</a></p> 
 <p>— Particle Network (@ParticleNtwrk) <a href="https://twitter.com/ParticleNtwrk/status/1818938740078784919?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">August 1, 2024</a></p>
</blockquote> 
<p>The number of blockchain networks is increasing at a fast pace, and the proliferation of L1 and L2 chains across ecosystems is evolving. This chain-dense approach to scalability leads to highly fragmented user bases and liquidity. The result is damaged user and developer experiences, and high friction/costs.</p> 
<p>Particle Network is a modular L1 blockchain that offers Chain Abstraction infrastructure to address liquidity and user fragmentation in a multi-chain world. Here are the features that Particle Network uses to achieve this:</p> 
<ul> 
 <li>Universal Accounts</li> 
 <li>Universal Liquidity</li> 
 <li>Universal Gas</li> 
 <li>Particle L1 chain</li> 
</ul> 
<h2 id="the-mission-to-unify-web3">The Mission to Unify Web3</h2> 
<p>With the help of Particle Network, users can maintain a single account and balance across the ecosystem. This eliminates the need for manual bridging or asset management across multiple chains.</p> 
<p>The goal is to allow users to have a single address and balance across every chain, and pay for gas in any token.</p> 
<p>This mission of unifying Web3 is carried out via the Modular Chain Abstraction Infrastructure, offering a seamless experience with “One Account, One Balance, Any Chain,” according to Binance’s official announcement.</p> 
<h2 id="binance-labs-fund-allocation">Binance Labs’ Fund Allocation</h2> 
<p>Binance Labs’ newly secured funds will be allocated to a few important areas to drive Particle Network’s growth:</p> 
<ul> 
 <li>Global team expansion</li> 
 <li>Enhancing features and integration of Particle Network’s Chain Abstraction ecosystem to offer a strong and comprehensive user solution</li> 
 <li>Ensuring a secure, efficient, and timely launch of the L1 Mainnet in 2024</li> 
</ul> 
<p>Yi He, the co-founder of <a href="https://crypto.ro/en/exchange/binance/">Binance</a> and Head of Binance Labs said that they are committed to supporting founders who are building innovative products intending to onboard the next billion users into Web3.</p> 
<p>Binance Labs looks forward to supporting Particle Network in its mission to create a smoother and more intuitive UX for everyday users, Yi He<a href="https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-particle-network-to--address-user-and-liquidity-fragmentation-in-web3-2579347885390894943?hl=en" rel="nofollow noopener" target="_blank"> said</a>.</p> 
<h2 id="accelerating-mass-adoption-of-web3">Accelerating Mass Adoption of Web3</h2> 
<p>Pengyu, the founder of Particle Network also addressed the investment, saying that they are honored to receive it from Binance Labs, “a true pioneer in driving industry innovation.”</p> 
<p>Pengyu called this partnership an important milestone for Particle Network in their move towards realizing the Chain Abstraction and accelerating mass adoption of Web3.</p> 
<p>Binance Labs will support <a href="https://x.com/ParticleNtwrk" rel="nofollow" target="_blank">Particle Network</a>‘s technical capabilities, expanding its reach in the global Web3 community, and making the ecosystem more accessible and user-friendly to everyone.</p>

Binance Labs Invests in Particle Network for Unifying Web3

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