Binance Labs, the venture capital and development arm of Binance, announced its investment in Particle Network, a leading Layer 1 (L1) solution designed to unify blockchain networks through Universal Accounts.
Binance Labs Invests in Particle Network to Overcome Fragmentation in Web3
This investment aims to address user and liquidity fragmentation in the Web3 space.
As blockchain technology expands, the proliferation of various Layer 1 and Layer 2 chains has led to a fragmented user base and liquidity, creating challenges for both users and developers.
Particle Network aims to solve these problems with its Chain Abstraction infrastructure, which includes Universal Accounts, Universal Liquidity, Universal Gas and the Particle L1 chain.
This infrastructure allows users to maintain a single account and balance across multiple chains, eliminating the need for manual bridging or asset management.
The investment by Binance Labs will support Particle Network in many key areas, including global team expansion, development of Chain Abstraction features, and secure launch of L1 Mainnet later this year.
Binance Co-Founder and Binance Labs President Yi He expressed his excitement about the partnership and said:
“Binance Labs is committed to supporting founders who develop innovative products to engage the next billion users on Web3. We look forward to supporting Particle Network in its mission to create a smoother and more intuitive user experience for everyday users.”
About Particle Network
Particle Network aims to unify Web3 through the Modular Chain Abstraction Infrastructure and provide users with a unified account and balance across all chains.
This solution addresses fragmentation issues in Web3, making it easier for users to manage assets across multiple blockchain networks.
*This is not investment advice.