The venture capital arm of Binance has backed the Oasis Ecosystem Fund, which specializes in funding decentralized application (dapps) developers based on the Oasis Network.
Looking forward to building Oasis Ecosystem together! 🙌https://t.co/yr9YKDADBl
– Binance Labs Fund (@BinanceLabs) January 11, 2022
Thanks to the contribution of Binance Labs, the Oasis ecosystem fund has grown from $ 160 million to $ 200 million.
The Oasis Ecosystem Fund is focused on supporting DeFi, NFT, metaverse, data tokenization and privacy applications.
Among other members of the fund:
- AME Cloud Ventures;
- Dragonfly Capital Partners;
- Draper Dragon;
- Electric Capital;
- Jump Capital;
- Kenetic Capital;
- NGC Ventures;
- Oasis Foundation;
- Pantera Capital.
Developers are convinced that scalability architecture ParaTimeused by the Oasis Network is “perfect for DeFi.” According to the project representatives, their network has significant bandwidth, lower gas cost compared to Ethereum, built-in privacy and MEV protection functions.
The Oasis Network platform also provides compatibility with EVM and Solidity, which makes it easy to create dapps and migrate existing Ethereum applications to the new blockchain.
Oasis developers also announced on the launch of the YuzuSwap decentralized exchange and the Wormhole Bridge, which interacts with the Avalanche, Binance Smart Chain, Terra, Ethereum, Polygon and Solana networks.
Binance Labs previously invested $ 12 million in the WOO Network liquidity platform.
In October 2021, cryptocurrency exchange Binance announced the launch of a $ 1 billion structure to develop and support the Binance Smart Chain ecosystem.