{"id":173855,"date":"2021-02-09T08:17:10","date_gmt":"2021-02-09T05:17:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-labs-backs-polkadot-ecosystem-with-2-4m-investment-in-plasm-network\/"},"modified":"2021-02-09T08:17:10","modified_gmt":"2021-02-09T05:17:10","slug":"binance-labs-backs-polkadot-ecosystem-with-2-4m-investment-in-plasm-network","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-labs-backs-polkadot-ecosystem-with-2-4m-investment-in-plasm-network\/","title":{"rendered":"# Binance Labs backs Polkadot ecosystem with $2.4m investment in Plasm Network"},"content":{"rendered":"<p>&#8220;<strong># Binance Labs backs Polkadot ecosystem with $2.4m investment in Plasm Network <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMTJlYzA2MGItNTAzYS00NWJhLWI5N2YtZjc2ODM3OTAxYzdlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a136f3a>Binance Labs has led a $2.4 million <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> A funding round for Polkadot-based smart contract platform, Plasm Network.<\/p>\n<p>Plasm Network&#8217;s funding round is the first investment made using Binance Labs\u2019 $10 million fund to support projects in the Polkadot ecosystem. Plasm is a leading parachain candidate on Polkadot supporting Ethereum and Layer-2 scaling solutions.<\/p>\n<p>Binance Labs is the venture capital and incubator arm of crypto exchange giant Binance. In December 2020, Binance Labs led a $12 million funding round for MATH, a multi-chain assets hub behind MathWallet. In August of the same year it made a strategic investment in decentralized streaming protocol Audius.<\/p>\n<p>According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/plasm-network\/plasm-network-closes-2-4m-round-led-by-binance-labs-b186d987ceec\">announcement<\/a>, Binance Labs investment will enable Plasm Network to develop on-chain governance, build a bridge between the Polkadot and Ethereum networks, and accelerate research and development.<\/p>\n<p>Plasm also raised money from notable crypto-notables HashKey, LongHash, Digital Finance Group, and PAKA Ventures.<\/p>\n<p>Polkadot is a high-throughput blockchain network that uses a multi-chain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to achieve greater scalability than networks built on top of a single blockchain.<\/p>\n<p> Wei Zhou, head of Binance Labs, praised the network for its recent achievements, stating;<\/p>\n<blockquote><p>\u201cWe have been very impressed by Plasm Network\u2019s growth since its launch. The first parachain connected to the Rococo-V1 Parachains Testnet is one of the most promising parachain candidates for Polkadot mainnet. By investing and supporting Plasm, we are demonstrating our commitment to supporting the growth and development of [the] Polkadot ecosystem.\u201d<\/p><\/blockquote>\n<p>Plasm recently won the first Polkadot testnet parachain slot, deploying the first-ever smart contract on Polkadot\u2019s \u201cRococo\u201d testnet.<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> likely boosted\u00a0Polkadot\u2019s native token, DOT, which had just hit an all-time high of $23.90 at the time of writing after gaining 20% in 24 hours.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-labs-backs-polkadot-ecosystem-with-2-4m-investment-in-plasm-network\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Binance Labs backs Polkadot ecosystem with $2.4m investment in Plasm Network &#8221; Binance Labs has led a $2.4 million Series A funding round for Polkadot-based smart contract platform, Plasm Network. Plasm Network&#8217;s funding round is the first investment made using Binance Labs\u2019 $10 million fund to support projects in the Polkadot ecosystem. Plasm is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":173856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMTJlYzA2MGItNTAzYS00NWJhLWI5N2YtZjc2ODM3OTAxYzdlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75168,4965],"class_list":["post-173855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-polkadot","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/173855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=173855"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/173855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/173856"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=173855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=173855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=173855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}