Bear market no problem for Binance Labs' DeFi breeding program

Bear market no problem for Binance Labs’ DeFi breeding program – Mail Bonus

Binance Labs, the venture capital and breeding arm of the Binance cryptocurrency, continues its business as usual despite the continuing bear market.

The VC company is preparing to launch the fifth round of the MVB Most Valuable Builder, a breeding program designed to support new projects focusing on distributed financing (DeFi) and Web3.

The program is organized in collaboration with BNB Chain and looks to provide special support to designers who build distributed applications on the BNB Chain blockchain network by providing cultivation and investment.

The MVB program was initially launched in May 2021, with the aim of helping BNB Chain-based start-ups create new projects, gain exposure, gain funding and accelerate the growth of the community and companies. Some of the successful MVB-born start-ups include infrastructure DeFi projects such as Deri Protocol and Solv Protocol, the Biswap distributed exchange, GameFi and the metaverse platform Metasset and more.

The latest round, also called the fifth cohort, is called the “Uncharted Territory”, where it aims to explore new opportunities and help new projects within the highly volatile cryptocurrency market.

“MVB V is structured differently from previous cohorts, with BNB Chain and Binance Labs working together for the first time to provide infrastructure, guidance, funding and ecosystem support for the projects,” BNB Chain Investment Manager Gwendolyn Regina told Cointelegraph on Thursday. “MVB’s funding source will be directly from Binance Labs,” she added.

The application deadline for the round is July 8, 2022, but the program is scheduled to begin on July 11, 2022. At the end of June, Binance Labs and BNB Chain will announce successful projects that will join the MVB accelerator and go through training and workshops for 6-8 weeks.

The new MVB acceleration plan is not limited in terms of planned investment, said BNB Chain’s Investment Manager, saying:

“We do not have an investment ceiling. Binance Labs will follow a detailed evaluation process for projects selected for cultivation before making an investment decision. The support we provide to the MVB program extends beyond money and the fund itself.

Regina went on to say that the latest MVB round welcomes all builders in the blockchain industry, regardless of whether they have experience building on the BNB chain. “We are ready to invest in projects at all stages of their development, whether it is an early stage, a working prototype or a product that requires scale,” she added.

The continuing bear market does not cause any potential damage to the speed surrender. On the contrary, BNB Chain and Binance Labs believe that difficult market conditions tend to create stronger projects, Regina said, adding:

“Bear markets are a great way to evaluate and support projects that are truly important in the blockchain ecosystem. If anything, now is the best time to identify strong, project-oriented projects and assist in their growth and development.”

BNB Chain’s position on the cryptocurrency market as an opportunity for industry growth is in line with broader views on the Binance cryptocurrency exchange.

Connected: ‘Builders celebrate’: Experts on why bear markets are good for Bitcoin

The company is seeking to hire 2,000 people amid the recent market downturn, with CEO Changpeng Zhao declaring that the stock exchange views the bear market as “a great time to reach top talent”.

Similar views are shared by billionaire cryptocurrency investor and Dallas Mavericks owner Mark Cuban, who used the well-known rhetoric of veteran investor Warren Buffett about the current decline in the cryptocurrency market: “Only when the tide goes out will you discover who has been swimming naked. ”