Binance Labs has invested in Particle Network, the leading Layer 1 (L1) solution for unifying all chains via Universal Accounts, addressing user and liquidity fragmentation in Web3. With Particle Network’s Chain Abstraction infrastructure, users can maintain a single account and balance across the entire ecosystem, eliminating the need for manual bridging or asset management across multiple chains.
Binance Labs, the venture capital and incubation arm of Binance, has invested in Particle Network to address the growing issue of user and liquidity fragmentation in Web3. As the number of blockchain networks continues to rise, the proliferation of L1 and L2 chains across various ecosystems leads to fragmented user bases and liquidity, resulting in poor user and developer experiences alongside significant friction and costs.
Particle Network is a modular Layer 1 blockchain providing Chain Abstraction infrastructure through four core features: Universal Accounts, Universal Liquidity, Universal Gas, and the Particle L1 chain. These features enable users to maintain a single account and balance across the entire ecosystem, eliminating the need for manual bridging or asset management across multiple chains. Particle Network aims to unify Web3 with its “One Account, One Balance, Any Chain” mission.
Future Plans and Use of Funds
The newly secured funds from Binance Labs will be allocated to several key areas to drive Particle Network’s growth and success, including global team expansion, enhancing the features and integrations of their Chain Abstraction ecosystem, and ensuring a secure, efficient, and timely launch of their L1 Mainnet later this year.
According to the firm’s report, “Binance Labs is committed to supporting founders 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,” said Yi He, Co-Founder of Binance and Head of Binance Labs.
“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. With Binance Labs’ support, we will enhance our technical capabilities and expand our reach within the global Web3 community. Together, we are committed to making Web3 more accessible and user-friendly for everyone,” said Pengyu, Founder of Particle Network.
Particle Network’s mission is to unify Web3 through its Modular Chain Abstraction Infrastructure, providing a seamless experience with “One Account, One Balance, Any Chain.” As an L1 solution for unifying all chains via Universal Accounts, Particle Network addresses Web3’s user and liquidity fragmentation. Users can maintain a single account and balance across the entire ecosystem, eliminating the need for manual bridging or asset management across multiple chains. For more information, follow Particle Network on X.
