Binance Labs, the venture capital and incubation arm of Binance, has announced an investment in Particle Network, a leading Layer 1 (L1) solution designed to unify blockchain networks via Universal Accounts. 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 seeks to solve these issues 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 from Binance Labs will support Particle Network in several key areas, including global team expansion, enhancement of Chain Abstraction features, and the secure launch of their L1 Mainnet later this year. The goal is to provide a seamless experience for users, encapsulated in their mission statement: “One Account, One Balance, Any Chain.”
Yi He, Co-Founder of Binance and Head of Binance Labs, expressed excitement about the partnership, stating, “Binance Labs is committed to supporting founders who are building innovative products to onboard the next billion users into Web3. We look forward to supporting Particle Network in their mission to create a smoother and more intuitive user experience for everyday users.”
Pengyu, Founder of Particle Network, also commented on the partnership, saying, “We are honored to receive this investment from Binance Labs, a true pioneer in driving industry innovation. This partnership is a significant milestone for Particle Network as we work towards advancing the realization of Chain Abstraction and accelerating the mass adoption of Web3.”
About Particle Network
Particle Network aims to unify Web3 through its Modular Chain Abstraction Infrastructure, providing users with a unified account and balance across all chains. This solution addresses the fragmentation issues in Web3, making it easier for users to manage assets across multiple blockchain networks.
About Binance Labs
Binance Labs is the venture capital arm and incubator of Binance, dedicated to supporting early-stage projects and fostering the growth of innovative ecosystems. Since its inception in 2018, Binance Labs has invested in over 250 projects worldwide, helping to shape the future of the blockchain industry.
