The sixth phase of the Binance Incubator, which lasted for 2 months, has officially ended. Initially, there were 12 startup companies in this phase, and ultimately Binance invested in 7 of them.
Derivio is a structured derivative ecosystem that provides synthetic derivatives. It offers traders risk-adjusted returns through smart leverage and provides sufficient depth of 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 Token Generation Event (TGE), and its token economics have not been disclosed.
Since its launch, Derivio has provided two main tools. The first is called 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 through 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 be used to form a perpetual futures market, enabling so-called pair 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, and Arthur Hayes. In February this year, Ethena Labs launched its mainnet and incentive program, and launched its stablecoin USDe, which minted over $287 million USDe within 24 hours of its launch. 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. Staking ETH to validators and earning 5% capital gains. 2. Shorting ETH futures to earn funding rates estimated to be over 20%. Users can receive Ethena’s USDe by depositing stablecoins such as Tether (USDT), frax (FRAX), dai (DAI), Curve USD (crvUSD), and mkUSD, and then stake them. Unstaking requires 7 days. The staked USDe tokens can be provided to other DeFi platforms to earn additional income.
Shogun is an intent-driven protocol designed to maximize traders’ extractable value (TEV) through optimized order flow and complete chain abstraction. Shogun connects liquidity from other chains to Berachain through its intent infrastructure, providing CEX-like trading with the advantages of DeFi.
UXUY is a decentralized trading platform based on MPC wallets, reducing the user threshold by providing solutions such as mnemonic-free and gas-free transactions. UXUY creates a Gas solution called GasPool through social trading features, providing users with 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.
Cellula is a fully on-chain artificial life simulation game that defines the interaction 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 and give birth to their own on-chain organisms. These organisms have unique appearances and attributes, showcasing diverse life forms. “Cell” is the basis of the Cellula game, which is a genetic fragment of organisms in the Cellula world. Some cells are highly active, while others are less active. Cells can be spliced and synthesized on the synthesis platform according to certain rules to create powerful organisms. There are a total of 512 types of cells, with 10 variations for each type, 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 using 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 supply 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 project. The current price of NFP is around $1, with a weekly increase of over 25%, and a fully diluted valuation (FDV) of over $1 billion.
QnA3 is an AI-driven Web3 knowledge sharing and search platform. The QnA3 Bot helps users achieve their intentions through “Question and Answer,” “Technical Analysis,” and “Real-time Trading” functions. QnA3 provides AI-powered question-answering 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 construct investment logic. In addition, QnA3 also provides real-time cryptocurrency technical indicators and a vast market news database, offering detailed technical analysis to help users understand market trends.
The GPT token of QnA3 unlocks AI capabilities and grants users governance power. It was launched on exchanges including OKX at the end of February and is currently priced at around $0.7, with a weekly increase of approximately 25% and a fully diluted valuation (FDV) of over $700 million.