Binance Supports Projects in the Polkadot Ecosystem with A $10 Million Fund

​Binance, a leading cryptocurrency exchange, announced that it has established a $10 million fund to empower innovative projects to be built around the Polkadot ecosystem.

As part of the company's commitment under Binance Launchpool, the new fund will bring the decentralized finance (DeFi) experience to Binance users.

Polkadot is a fast-growing blockchain ecosystem supporting over 300 ecosystem projects to-date, including the recently launched Reef Finance. As a multi-chain operating environment, Polkadot supports cross-chain registries, computation, assets and data transfer.

In addition to investment opportunities, eligible Polkadot projects will benefit from resources available from the greater Binance ecosystem: access to millions of customers, media distribution, knowledge sharing, financing, derivatives, financial management, and other comprehensive resources and financial support.

High-quality projects will also have the opportunity to get fast track review for Launchpool and Launchpad. Additionally, DOT will be added as a part of the Launchpad token session and Launchpool pools.

“We will soon call upon DeFi projects to submit their proposals to be one of the beneficiaries of this fund. The selection criteria will follow the same standards used for Binance X, Binance Labs, and Binance Launchpad,”the company said.