An overview of the 13 selected projects in Binance Labs Season 7 MVB Accelerator Program

Written by: Peng SUN, Foresight News

On the evening of March 1, Binance Labs announced the selection of 13 early-stage projects for the 7th season of the MVB Accelerator Program, which lasts for 10 weeks and is jointly operated by BNB Chain and Binance Labs.

The selected projects of Binance Labs' MVB Accelerator Program are worth noting. Let's first take a look at past achievements:

• In Season 5, Binance Labs invested in the decentralized domain protocol Space ID, Web3 infrastructure Overeality, interoperability communication protocol Multichain Event Protocol (MEP), mobile strategy game Meta Apes, tokenized portfolio Velvet Capital, multi-chain open data analysis platform Web3Go, and casual gaming platform Gameta.
• In Season 6, Binance Labs invested in the Ethereum scaling project AltLayer, perpetual DEX project KiloEx, lending protocol Kinza Finance, and AI blockchain-based virtual companion game Sleepless AI.

In other words, Binance's MVB Accelerator Program has consistently produced successful "golden dog" projects. Given this, Season 7 is equally worth paying attention to. Foresight News has compiled the 13 selected projects for this season, covering three major tracks: DeFi, infrastructure, and application layer. Surprisingly, six projects based on the Web3 + AI concept have been selected. What valuable targets can we find among them?

DeFi

BitU

BitU is a crypto-native collateralized stablecoin protocol that offers higher yields by utilizing off-chain liquidity and efficiency. Users can mint the crypto-native stablecoin BITU using major crypto assets supported by the protocol. One of the components of the BitU protocol is the Active Liquidity Management Module (ALMM), which primarily addresses the interest rate differential between on-chain and off-chain stablecoin lending. It introduces trusted custodians (such as Fireblocks, BitGo, Coinbase, etc.), allowing users to store funds without worrying about centralized risks in CEXs, and these funds are not directly controlled by the BitU protocol. They will be mapped to exchanges through the "OES" (Over-the-Counter Settlement) service. The ALMM revenue module generates income from off-chain trading activities and distributes the income back to on-chain users. ALMM also includes liquidity management, risk control, and other modules to provide initial liquidity for BITU, manage BITU redemptions and collateral asset releases, as well as conduct risk management and portfolio liquidation.

BitU states that in the initial phase, minting BITU is limited to whitelist partners qualified to use collateral to mint BITU.

Blum

Blum is a hybrid CeDeFi exchange that allows users to trade cryptocurrencies through a Telegram mini-program. Blum provides all the tokens users need without switching between multiple platforms. Blum features an off-chain order book, on-chain settlement, and centralized or self-custody options, and will also offer derivative trading services, including NFTs and pre-market tokens.

Surf Protocol

Surf Protocol is a perpetual contract trading platform based on Base, providing leveraged trading, pre-market trading, and point trading for low market cap tokens.

In October 2023, Surf Protocol completed a $3 million funding round, led by ABCDE Capital, with participation from Inception Capital (formerly OP Crypto) and C² Ventures.

Vooi

Vooi is a cross-chain perpetual contract DEX aggregator that currently supports four DEXs: Orderly, SynFutures, GMX, and KiloEx. Vooi allows users to add balances after connecting their wallets and conduct on-chain transactions with no gas fees at the lowest cost. Vooi offers a maximum leverage of 100 times and supports account abstraction.

Previously, Vooi was an L2 stablecoin exchange protocol aimed at reducing slippage for Layer 2 users exchanging stablecoins like USDC, DAI, and USDT. Its mainnet currently only supports Linea. Additionally, the VOOI token economics have not yet been released.

Infra

Aggregata

Aggregata is a DePIN-driven AI data storage project based on BNB Greenfield, capable of creating high-quality data and pricing it. It uploads data to Aggregata's decentralized storage via Greendrive for Greenfield. The Aggregata marketplace allows sharing, selling, and searching for AI datasets, enabling data to be activated and used within 5 seconds, providing instant access to AI environments, and earning tokens through data contributions.

Nesa

Nesa is a lightweight Layer 1 for AI that uses on-chain ZKML for executing queries requiring high privacy, security, and trust in AI reasoning. Nesa has launched the AI Virtual Machine (AIVM) architecture, which is a unified execution environment connecting on-chain assets with off-chain activities, ensuring the unified execution of AI models across all nodes in the NES network. Nesa has also proposed a privacy-centric decentralized reasoning protocol supported by ZKML based on Cosmos WASM, using BIL technology to decouple reasoning requests from reasoning responses to improve overall network throughput. Subsequently, Nesa commits the computational reasoning results through a security committee and sends them on-chain, achieving consensus confirmation after smart contracts aggregate and vote on them, rewarding and punishing nodes, and ultimately communicating the consensus results to users.

Nesa's native token is NES, with an inflation rate starting at 8% per year, decreasing by 8% each year until it reaches an inflation rate of 1.8%. The initial total issuance of NES is 1 billion tokens, of which 8.8% is allocated for the genesis airdrop and incentivizing the testnet. The allocation for the incentivized testnet will reward developers who have contributed to the Nesa ecosystem, developers building on Nesa, developers submitting their AI models for Nesa's use, and early miners who lend their computing power. Regularly submitting PayForQuery transactions via the AIVM kernel can also earn reward points. NES can be used for AI model queries, staking mining, and governance participation. Additionally, 11.2% of NES will be used for future incentives, 27.2% will be allocated to the Nesa Foundation, R&D team, and ecosystem incentives, 18.9% will be allocated to early supporters in rounds A and B, 15.8% will be allocated to early supporters in the seed round, and 18.1% will be allocated to team members.

Currently, the issuance date of NES has not been announced.

Nimble Network

Nimble Network is a composable AI protocol that allows AI agents, data providers, and computing resources to combine and utilize ML models and data. Currently, Nimble Network is creating atomic components for the protocol to expand into IP, creators, advertising, personalization, and chatbots, with applications in DeFi, DePIN, and GameFi.

Nimble Network is set to launch its mainnet soon and will release the Nimble miner SDK to allow developers to mine. Nimble also stated that it will meet AI demands in the first quarter of this year and launch a market allocation mechanism and infrastructure in the second quarter, followed by token issuance. The token economics of Nimble are shown in the image below:

Application Layer

Aspecta

Aspecta is an AI-driven digital identity ecosystem platform focused on developers, building an AI-generated identity system called Aspecta ID for developers and others to showcase, connect, and explore. By linking accounts in the Web2 and Web3 spaces, such as GitHub, Twitter, and wallet addresses, Aspecta ID includes AI-generated web pages, soulbound tokens, and metaverse twins. Based on Aspecta ID, Aspecta ID holders can showcase insights across over 8,000 skill areas, hundreds of experience highlights, connect with like-minded peers globally, and gain access to exclusive DAOs, ecosystems, and applications.

In March 2023, Aspecta completed a $3.5 million seed round of financing, which consisted of two phases, A and B. Phase A was completed in April 2022, with participation from institutions such as ZhenFund, Qiji Chuangtan (formerly YC China), UpHonest Capital, and Yale Alumni Fund. Phase B was completed in November 2022, with investments from Foresight Ventures, HashKey Capital, SNZ Holding, Infinity Ventures Crypto, and others. Additionally, Aspecta received strategic investments and donation support from projects and ecosystems such as Galxe, Mask Network, CyberConnect, and P12.

In July 2023, Aspecta completed a new round of strategic financing, with Spartan Group participating, though the specific amount has not been disclosed.

At the same time, Aspecta is also a portfolio project of Foresight Ventures.

Holoworld

Holoworld is a decentralized AI virtual character marketplace and social platform where anyone can create intelligent AI robots with just a few clicks.

Opinion Labs

Opinion Labs is a dynamic opinion and continuous prediction market aimed at creating a full-chain social infrastructure. Its first product is the full-chain opinion market and content community DApp AlphaOrBeta, which ensures that opinions are disseminated and receive attention and rewards. Users can share their opinions and predictions on social media to earn ETH and airdrops. In January 2024, AlphaOrBeta received a grant and strategic support from the Mantle ecosystem foundation. Additionally, Opinion Labs will launch a full-chain decentralized information and prediction market.

Opinion Labs plans to officially launch AlphaOrBeta in the first quarter of this year, release the AlphaOrBeta TG bot and prediction market MVP in the second quarter, launch the test market Beta version in the third quarter, and release the prediction market Alpha version in the fourth quarter.

Side Quest

Side Quest is a gaming social platform founded in London in 2022, aimed at providing various gaming, earning, culinary, and social opportunities. Currently, the Side Quest community has over 130,000 international gamers and has established the largest gaming café brand in the UK.

Story Chain

Story Chain is an AI story-writing NFT application that allows users to create stories with unique chapters and art using LLM and image AI. After submitting instructions to the AI, users can mint NFTs for each completed chapter. Story Chain features a voting mechanism that allows users to collectively decide the direction of the story, with each contributed chapter becoming an NFT.

Tilted

Tilted is a gaming asset marketplace for buying, selling, and trading gaming assets, skins, and NFTs on-chain, ensuring user ownership and achieving cross-game compatibility.