Binance Labs, CoinFund, Delphi Ventures, LongHash, Semantic Ventures, and Nomad have jointly provided $10 million in seed funding for Neutron, a blockchain project in the Cosmos ecosystem aimed at creating an economical and secure environment for developer of smart contracts and decentralized applications.
Neutron stands apart due to being the first Cosmos blockchain launched with its Replicated Security feature, meaning that consumer chains can link up with Cosmos Hub validators to ensure applications run securely.
The funds will enable Neutron to further develop its ecosystem and create new dApps.
This is only the latest of Binance Labs’ investments, as in June, it announced investments in five other startups – Bracket Labs, DappOS, Kryptoskatt, Mind Network and zkPass. Additionally, successful projects in the Cosmos ecosystem have been backed by other venture capitalists, such as the Connext project which was granted $7.5 million at a valuation of $250 million.
