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The venture capitalist branch of the world’s largest crypto exchange platform by volume is announcing a new investment into a Solana (SOL) staking protocol. In a new blog post, Binance Labs says it’s investing an unspecified amount into Solayer, a Solana-based staking network that has gathered over $150 million in Total Value Locked (TVL) and reeled in over 70,000 unique addresses in just 60 days after its launch. According to Binance, Solayer’s goal is to improve the bandwidth of on-chain decentralized applications (DApps) and to secure the blockchain. “Built natively on Solana, Solayer leverages the economic principles of proof-of-stake to extend the security of Solana’s base layer towards other decentralized systems and dApps… With the newly secured funds from Binance Labs, Solayer plans to scale its team, onboard new protocols into the ecosystem, and establish itself as a core primitive of the Solana blockchain. Additionally, the...

Binance Labs is launching a new platform called ColLabs, targeting web3 founders , builders , and investors. ColLabs aims to streamline venture capital operations, knowledge sharing, and professional networking. It extends Binance Labs’ ongoing incubation and guidance efforts, targeting the mentoring and funding needs of the web3 sector with unique resources like customized learning content and event access. However, there have been question about it accessibility due to the exclusivity of these resources. We’re thrilled to announce ColLabs by Binance Labs an invite-only Web3 investment community for investors, founders & builders . Member-only content Real-time deal sourcing Insights from investors Access to Binance Labs network Read morehttps://t.co/uaWXeb8jQ9 — Binance Labs Fund (@BinanceLabs) August 31, 2023 The new venture also offers carefully reviewed investment prospects from Binance Labs’ current portfolio. While this could simplify due diligence f...