Binance Labs Dominance Uncovered For Launchpool Projects: Report

Binance Labs, the venture capital arm of Binance cryptocurrency exchange has been earmarked as the VC with the largest Launchpool Projects amongst top investment firms.

Binance Launchpool Contribution Data

In a recent report from Root Data Labs, the Web3.0 asset data platform claimed to have compiled data on 30 Binance Launchpool projects since November 2021. For these Launchpool projects, Root Data Labs identified participation from a total of 288 institutional and individual investors. 

Out of all these projects, Binance Labs “took the lead by hitting 21 projects with 190 investment portfolios, achieving an 11.05% hit rate for Launchpool,” Root Data Labs reported on X. 

Firms like OKX Ventures, Coinbase Ventures, Dragonfly, Polychain Capital, and g scott russ have plunged their investments in about five Launchpool projects. Meanwhile, Binance Labs invested in only two out of the eight projects that were launched recently and this was due to a previous controversy about “nepotism coins” which involved Binance. This suggests that Launchpool has now become more equitable.

The average hit rate amongst the 288 investors did not reach 2%. However, Gemini’s Frontier Fund, Draper Dragon, LightSpeed, and Folius Venture registered more than 5% respectively. 

𝗪𝗵𝗼 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝘄𝗶𝘁𝗵 𝗸𝗲𝗲𝗻 𝗲𝘆𝗲𝘀 𝘁𝗵𝗮𝘁 𝗶𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝗟𝗮𝘂𝗻𝗰𝗵𝗽𝗼𝗼𝗹'𝘀 𝗲𝗮𝗿𝗹𝘆 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀? 👀

We've compiled data on 𝟯𝟬 Binance 𝗟𝗮𝘂𝗻𝗰𝗵𝗽𝗼𝗼𝗹 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀 since November 2021, 𝘄𝗶𝘁𝗵 𝗮 𝘁𝗼𝘁𝗮𝗹 𝗼𝗳 𝟮𝟴𝟴… pic.twitter.com/UNKs0aefrb

— RootData (@RootDataLabs) April 28, 2024

One of the individual investors, Synthetix founder Kin Warwick, had a hit rate of 8.77%, a figure tagged as commendable. He had two rounds of notable investments in Ethena, Binance 50th Launchpool project. EthHub co-founder Anthony Sassal, also had an impressive hit rate of 8.57%. 

On the other hand, only three of Andreessen Horowitz (a16z) investment portfolios have made it to the Binance list. 

It is not clear why this is the case but the data platform speculated that it could be a sign of the investment firm’s greater commitment to Web3.0 commercial boundaries and regulatory innovation. Most of a16z’s recent investments had centered around crypto, food and even beauty.

Recent Launchpool Projects By Binance Labs

Binance Lab is currently on its 53rd Launchpool project and it was announced a few days ago. The restaking liquidity protocol Renzo (EZ) which would enable users to mine by depositing BNB and FDUSD, is scheduled for launch on April 30, 2024. Before Renzo, it was Omni Network (OMNI), identified as Binance Launchpool’s 52nd project.

In the first week of this month, Binance introduced Saga (SAGA) as its 51st Launchpool project, offering users BNB and FDUSD staking to farm SAGA tokens. By this evaluation, Binance is conveniently dominating the Launchpool ecosystem.