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Oasis Foundation Gets $200M Backing from Binance Labs

Binance Labs’ contribution will enhance the development of projects building on the Oasis network.

Binance Labs Incentives Oasis Foundation 

Binance Labs looks to contribute to projects building on the Oasis network after announcing its participation in the Oasis Ecosystem Fund. Through Binance Labs’ contribution, the Oasis ecosystem fund has accumulated $200M to propel new projects on the Oasis network.

The privacy-enabled blockchain platform announced the partnership with the venture capital and innovation incubation arm of Binance on Twitter. The network stated via the tweet that the fund would accelerate the development of Oasis applications. 

“We’re excited to announce that @BinanceLabs will be contributing to the Oasis Ecosystem Fund, growing the fund up to 200 $USD!” Oasis tweeted excitedly on January 11th. “The $200M Oasis Ecosystem Fund will help propel new projects on the Oasis Network and build the next generation of Oasis apps.” 

Speaking on the funding partnership with Oasis Foundation, Head of Binance Labs Fund, Bill Chin, also expressed excitement about supporting the project. Bill also believes that Oasis can be an integral part of Web 3.0 innovation. 

“We are a true believer of Oasis’ vision and have been supporting the project since the early days. We are very excited to join the Ecosystem Fund as we believe that Oasis can advance Web 3.0 development due to its scalability and privacy-preserving features. Also, any project building on top of Oasis will also be part of the Web 3.0 innovation,” Bill Chin was quoted from Binance Blog on January 11. 

What is the Oasis Ecosystem Fund? 

The Oasis ecosystem fund is an initiative launched by Oasis foundation to power the next wave of Oasis applications, including Non-fungible Tokens (NFT), Decentralized Finance (DeFi), Metaverse, data tokenization, privacy applications, and more. 

Director of Oasis Foundation, Jernej Kos, disclosed that Binance Labs’ participation in the initiative would promote the development of new projects in the blockchain industry. 

“We couldn't be more thrilled that Binance Labs decided to dedicate such a significant contribution to our Ecosystem Fund. They are a valued partner, and together we can create new frontiers in the blockchain space,” Jernej said. 

Where to find Oasis Foundation: 

Website | Twitter | Telegram

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