Binance Labs has invested in Particle Network to address user and liquidity fragmentation in Web3 through Universal Accounts.
Points
- Binance Labs invested in Particle Network, an L1 solution for unifying all chains.
- The investment aims to address user and liquidity fragmentation in Web3.
- Particle Network offers Universal Accounts, Liquidity, and Gas solutions.
- The funds will support global team expansion and feature enhancements.
Binance Labs, the venture capital and incubation arm of Binance, has invested in Particle Network, an L1 solution designed to unify all chains via Universal Accounts. This investment aims to address user and liquidity fragmentation in Web3, providing a seamless and borderless experience.
https://x.com/ParticleNtwrk/status/1818938740078784919
Particle Network, a modular L1 blockchain, offers Chain Abstraction infrastructure to tackle the challenges of a multi-chain world. The key features include Universal Accounts, Universal Liquidity, and Universal Gas, which simplify user experiences and reduce friction and costs.
“Proud to announce @BinanceLabs as our latest investor. Web3 is rapidly entering the era of chain abstraction. Our ecosystem is coming together to deliver a maximally simple, borderless experience. One account, one balance, any chain.” https://t.co/731DTeJxbe
The Mission to Unify Web3
With Particle Network, users can maintain a single account and balance across the ecosystem, eliminating the need for manual bridging or asset management across multiple chains. This mission aims to unify Web3, offering a seamless experience with “One Account, One Balance, Any Chain.”
Binance Labs’ Fund Allocation
The newly secured funds from Binance Labs will be allocated to key areas to drive Particle Network’s growth:
– Global team expansion
– Enhancing features and integration of Particle Network’s Chain Abstraction ecosystem
– Ensuring a secure, efficient, and timely launch of the L1 Mainnet in 2024
Accelerating Mass Adoption of Web3
Pengyu, the founder of Particle Network, expressed honor in receiving investment from Binance Labs, emphasizing the partnership as a milestone for realizing Chain Abstraction and accelerating mass adoption of Web3. Binance Labs will support Particle Network’s technical capabilities, expanding its reach in the global Web3 community and making the ecosystem more accessible and user-friendly.