TL;DR
Expecting big things from Binance Labs Top 5 Altcoin Gems. This week we’ll be looking at some of the best projects Binance has supported in 2023. Since its formation, Binance Labs has been aggressively growing its Ecosystem of Altcoin Gems. Completing Season 6 of its Most Valuable Builder (MVB) Event this year. Hundreds of projects submit their work hoping to be taken under CZ’s wing. With so much great competition, very few make the cut. Those who do are awarded an average of $10 Million to pursue their blockchain dreams. This has allowed Binance to cherry-pick only the best crypto projects to include in their roster. With an investment arm estimated to be worth over $9 Billion. Binance Labs has acquired over 200 projects spread across more than 25 countries. Making it a true financial blockchain force to be reckoned with.
As a permissionless network, anyone can launch any project they want on BNB Chain. But, there’s just something about a project that personally gets a pat on the back from Binance itself.
Binance Labs and the Binance Launchpad are two of the Exchanges biggest ways it invests in projects that want to help grow the BNB Network. We have full reports on Open Campus and Step’n as two of the most recent projects incubated by Binance’s Launchpad for you to check out.
Right now it’s time to dig into the Binance Labs side of things and see what going on. While there are hundreds of projects Binance has invested in over the years, we’re going to focus on what many consider BNB Chains rising stars. These are projects that have either recently launched or are currently conducting an Incetivized Testnet you could earn a reward from participating in.
Pendle Finance
With earnings from yields being so unreliable, Pendle Finance is working hard to create new ways to maximize farmer’s returns. Available on Ethereum, Arbitrum, BNB Chain, and Optimism. Pendle as secured network activity on the largest and most active ecosystems. Pendle offers Yield Tokenization that lets users create wrapped Standard Yield (SY) versions of their tokens and split them into two separate parts, a Principal Token (PT) and a Yield Token (YT). By doing this farmers can maximize and compound their yield from a multi-token system. Pendle has built an Automated Market Maker (AMM) where users can trade their PT and YT tokens to trade in and out of different positions. DeFi Dad’s latest report teaches us How to Earn up to 15% on your ETH with Pendle using this process. Rounding the project out, Pendle has created vePENDLE as a governance and incentive token built to foster the growth of the project. By locking up PENDLE tokens, you can earn a healthy return from vePENDLE emissions. The longer you stake your PENDLE the greater your vePENDLE value grows. The main value proposition for vePENDLE is to enable boosted returns for your current LP rewards.
Pendle has been active for over a year now but has only recently made its way into the Binance ecosystem. This is thanks to a healthy injection of capital by Binance Labs this week. While the amount invested is undisclosed, it will give Pendle the backing it needs to expand its services on BNB Chain. With over $125 Million deposited into Pendle this year, and over a dozen and a half pools to choose from. Pendle…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
