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Binance Labs is a very important part of the Binance ecosystem. It is a service that seeks out worthy projects and teams and invests in those who are trying to build and support decentralized web.
In other words, Binance Labs identifies viable blockchain entrepreneurs, startups, and communities, and it invests in them and empowers them. By helping them grow, Binance Labs is ensuring the growth of projects which will, in turn, help the blockchain ecosystem grow.
The service has been around for three years, and so far, it has provided support to over 100 projects. We decided to look into them and select five projects that we believe have the greatest potential.
1) Chiliz (CHZ)
The first on our list is Chiliz — the leading cryptocurrency for sports and entertainment. The project operates the blockchain-based sports entertainment platform called Socios, which allows users to participate in the governance of some of their favorite sports brands.
The project was founded by its current CEO, Alexandre Dreyfus, who has over 20 years of experience founding and growing online companies. Now, his crypto firm Chiliz allows sporting organizations to use its technology, and issue a limited supply of fan tokens that are then offered at an FTO (Fan Token Offering).
These tokens come on a first-come-first-serve basis, and the opening price and market cap are fully disclosed by Chiliz beforehand, so there is total transparency and no surprises for the community. As for Chiliz’s own native token, CHZ, it is used for buying these fan tokens and it acts as an internal currency for the entire platform. So, for as long as there are sports fans and fan tokens that these fans would be willing to buy, CHZ is bound to have a use case, and to grow in demand as the sports industry gets more and more connected with the world of crypto.
To learn more about this token visit our Investing in Chiliz guide.
2) Swipe (SXP)
The next on our list of Binance Labs projects to watch is Swipe. Now, Swipe is a platform that aims to create a bridge between crypto and fiat and to do that, it has developed an API designed to create global payment cards that would be powered by its own native coin, SXP.
Swipe has more products to offer, of course, such as its Swipe Swap — an AMM forked by Uniswap, SushiSwap, and THORchain alike. But, the product is powered by Swipe’s own Swipechain.
A thing that makes Swipe unique is that it currently powers some of the world’s largest crypto exchanges, including Binance — the largest exchange by volume — as well as FTX. Not only that but it is also connected to the world’s largest payment network, Visa, which also uses Swipe API to establish a connection with the project.
Through Swipe API, it is possible to make real-time crypto-to-fiat conversions with nothing more than a swipe of your debit card at a POS, which makes this project one of the most important ones for the future of using cryptos for real-time payments in the real world.
To learn more about this token visit our Investing in Swipe guide.
3) Toko Token (TKO)
Halfway down the list, we have Toko Token. This is an extremely important cryptocurrency, as it became the first entity registered under Indonesia’s Commodities Futures Trading Regulatory Agency (BAPPEBTI). In other words, it is the first Indonesian crypto to offer a unique hybrid token model that allows the project to serve several purposes on the Tokocrypto blockchain platform.
One of these use cases allows users to participate in various crypto exchanges, savings and deposit programs, interoperable DeFi apps, NFT marketplaces, and more. The token was launched in April last year, and since then, it has attracted enterprise and private users alike.
Both Tokocrypto projects, as well as its Toko Token, claim to bring revolutionary tech to the Indonesian financial world. Thanks to the fact that it is the first company to use blockchain technology and a hybrid token in the country, Tokocrypto is also the first project to bring DeFi to the Indonesian general public.
As such, it is undoubtedly an extremely important coin for the local crypto community, and it has great potential to rise significantly in months and years to come.
To learn more about this token visit our How to buy Toko Token guide.
4) DODO (DODO)
Nearing the end of the list, we have DODO. This is another DeFi project, but this one acts as an on-chain liquidity provider. DODO uses something called Proactive Market Maker (PMM) algorithm, which allows it to offer better liquidity and price stability than, now traditional AMMs.
The PMM algorithm has a pricing mechanism that mimics human trading. And it relies on oracles to gather accurate market prices for the supported assets. Once it collects the data, it provides enough liquidity close to these prices to stabilize the liquidity providers’ portfolios, decrease price slippage, and basically negate impermanent loss.
All of this makes DODO one of the most competitive liquidity providers in the market. In addition to everything mentioned above, it can also offer very low transaction fees. The project’s team claims that DODO is far superior when it comes to pricing over Uniswap, as it has a flatter price curve. Whether or not this will be enough for it to overtake Uniswap at some point in the future — remains to be seen. For now, however, we can say without a doubt that the project does have great potential and that it is quite clear why Binance Labs decided to support it.
To learn more about this token visit our How to buy DODO guide.
5) Highstreet (HIGH)
Lastly, the fifth and final project on this list is called Highstreet. This is a native cryptocurrency of a decentralized commerce-centric play-to-earn metaverse, built with support for virtual reality (VR). With the metaverse being a massive trend of late 2021 and early 2022, it is not surprising that Binance Labs decided to support this project, as well.
What made it stand out from the others is the fact that Highstreet introduces a new market, where in-game items can be redeemed for real-life products. This is a unique approach to redeeming in-game rewards, which users can win during gameplay. The game itself allows them to explore the project’s metaverse, fight monsters that inhabit the game world, complete quests, and more. All the while, they get to acquire goods that have digital and real-world utility alike.
Apart from its native token HIGH, Highstreet also has another utility token called STREET. This is a cryptocurrency that you actually get as a reward for completing in-game tasks. HIGH is more useful when it comes to governance, allowing gamers the chance to help the project by voting on major decisions that need to be made within the platform. Other than that, HIGH can also be used for staking or for buying products on the marketplace. Meanwhile, STREET serves as the primary currency for in-game commerce, and can be used for buying armor, weapons, travel tickets, hotel stays, heals, and more.
To learn more about this token visit our How to buy Highstreet guide.
Since its creation, Binance Labs has been looking into different projects worthy of its support, with the only criteria being that they are actually contributing to the development of blockchain technology and decentralization. As a result, all projects that it is backing definitely bring real worth to the industry, and they certainly have a future. As a result, you can count on them to be good investment opportunities, which is why we recommend looking into them and considering whether they are something that might interest you.