Celer Network Partners with Binance Labs as a Mentor for the Binance Labs Incubation Program

2 min read

We are very excited to announce that Celer Network partners with Binance Labs as a mentor for the Binance Labs Incubation Program.

Binance Labs is the venture arm of Binance and an initiative to incubate, invest, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities. Binance Labs Incubation Program is a 10-Week On-Site incubation program designed to identify and help top early-stage blockchain projects deliver something that has strong product market fit. This partnership will allow Celer Network team to share experiences and lessons learnt in the early product growth phase, technically empower the new projects with Celer Network’s advanced layer-2 scaling platform and organically grow Celer Network’s ecosystem.

Celer Network shares the same vision of product market fit with a proven track record. Recently, Celer Network launched Sirius Testnet along with CelerX, the user entry point to Celer Network on mobile platforms. Within one month, CelerX quickly acquires 22,000 monthly active users, has more than 20% 7-day retention ratio and engages each active user for more than 12 mins per day. One interactive game application, Gomoku, in CelerX is played 110,000 times monthly, generating more than 4 million transactions on the testnet. Even though Gomoku is the only decentralized application on Celer Network and still runs on testnet, it has become one of highest-DAU blockchain applications and achieves the level of user engagement statistics resembles centralized applications. What’s more, Celer Network’s growth is truly global with users coming from 58 different countries.

“Mo will be a valuable mentor at the Binance Labs Incubation Program as Celer has been focusing on product market fit and user adoption since day one. We also expect to see and will support synergies and new growth points amongst Celer Network and the project teams through their interaction during the program,” said Ella Zhang, Head of Binance Labs.

Dr. Mo Dong, CEO and Cofounder of Celer Network comments: “We truly appreciate and applaud the efforts and vision shown by this great incubation program from Binance Labs. This is exactly what blockchain industry needs right now. We thank Binance Labs for the opportunity to onboard us as a mentor. We look forward to meeting all the new teams and sharing our experiences on product growth, marketing, community and technology. We will also look out projects that are good fit for Celer Network ecosystem.”

Together, we hope to bring mass adoption to blockchain technology.

Media Contact of Celer Network: Windy Wang

windywang@celer.network | celer.network

About Celer Network

Founded by four PhDs from MIT, Princeton, UC Berkeley and UIUC, Celer Network is a leading layer-2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and incentive-aligned cryptoeconomics. For more information, visit: https://www.celer.network/

About Binance Labs

Binance Labs is an infrastructure impact fund and an initiative launched by Binance to incubate, invest in, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities. The mission of Binance Labs is to solve the problems that matter most to the ecosystem and change the world for the better. Learn more about the Binance Labs Incubation Program at https://www.binancelabs.co/.

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