Binance Venture Arm Grants First Fellowship Round To 3 Blockchain Open Source Projects

Binance Labs, the venture arm of cryptocurrency exchange Binance, has granted US$15,000 to each of its first three open source Fellowship
projects: Ironbelly, HOPR, and Kitsune Wallet. The three projects will join the
Binance Labs Fellowship program,
an initiative launched
in March to support talented developers and researchers in creating free and
open source blockchain software, Binance Labs said
on Friday.

Ironbelly is an
open source, free to use mobile wallet for the Grin/Mimblewimble blockchain.
Its goal is to provide an easy and simple way to hold and transfer Grins
between people. Ironbelly is currently in beta testing for iOS. Only the
testnet is enabled and mainnet is set to be launched soon.

HOPR,
by Validity Labs, is a decentralized and privacy-centric point-to-point
messaging protocol that incentivizes users to participate in the network. It
provides privacy by relaying messages via several relay nodes to the recipient.
Relay nodes are getting paid via payment channels for their services.

Kitsune
Wallet, formerly known as the Universally Upgradable Identity Proxy, was
initiated during the ETHParis 2019 hackathon in March 2019. Kitsune Wallet is a
smart contract based account that holds crypto assets in a single contract
(address) while being able to change appearance depending on a user’s needs. This
change of appearance includes modifying the security logic of one’s account,
adding interfaces such as ERC1271 but also taking the appearance of common
multisigs such as UniversalLogin’s ERC1077.

By joining the program, the three startups will gain access
to Binance’s network of founders, researchers, portfolio companies and
developers for mentorship and advice. They will also receive a monthly stipend,
and support and guidance on defining a roadmap and fostering a community of
users and contributors.

“We have seen firsthand how innovation depends on an engaged
community of developers and entrepreneurs who imagine ideas and create new
projects to bring products to market,” said Flora Sun, director at Binance
Labs.

Binance, one of the world’s leading cryptocurrency exchange
startups, has launched several initiatives in recent months to support promising
blockchain projects and startups. Besides the Binance Labs Fellowship program, Binance
Labs also organizes the Incubation
Program, a ten-week on-site program designed to provide guidance and
mentorship to top blockchain developers around the world, and makes strategic direct investments into young
startups. Its portfolio includes the likes of Terra, Koi Trading and Capitalise.