Dill Selected for Binance Labs Incubation Programme Amidst Securing Pre-Seed & Founders Funding Round

Admission into Binance Labs Incubation Programme

Binance Labs, the venture capital and incubation division of Binance, has broadened its support by welcoming a cohort of new cryptocurrency projects into the seventh iteration of its Incubation Programme, with Dill among the chosen few.

Renowned for its commitment to nurturing early-stage ventures, Binance Labs continues to cultivate potential disruptors within the Web3 landscape.

A Binance Labs representative provided insight into the curriculum of the Incubation Programme:

“This season's curriculum features weekly sessions covering critical startup principles including Web3 security, compliance best practices, a deep dive into the legal and regulatory landscape, and more.”

The Season 7 Incubation Programme is set to run for approximately two months.

Throughout this period, the selected projects will receive mentorship and extensive resources from Binance Labs.

This support encompasses access to industry experts, strategic advice, and integration prospects within the Binance ecosystem.

It is important to note that acceptance into the Binance Labs Incubation Programme does not ensure investment from Binance Labs; investment decisions are made independently and are disclosed following the programme's completion.

The programme is an integral part of Binance Labs' overarching mission to identify, invest in, and empower blockchain entrepreneurs and startups.

This initiative is designed to support early-stage Web3 ventures by offering a structured curriculum and access to resources within the Binance ecosystem.

By focusing on pre-seed to seed stage investments, Binance Labs seeks to catalyse innovation and contribute to the growth of the blockchain ecosystem.

Binance Labs' Incubation Programme has previously cultivated innovative projects such as Bracket Labs, DappOS, Kryptoskatt, Mind Network, and zkPass, further solidifying its role as a catalyst for emerging blockchain technologies.

Dill Wraps Up Pre-Seed and Founders Funding Round

On 16 July, Dill reached a significant milestone in the blockchain industry by announcing the successful completion of its pre-seed and founders round funding.

This round was spearheaded by Find Satoshi Ventures, the investment arm of FSL, and saw participation from Modular Capital, angels associated with LayerZero, Pendle's co-founder TN, Manta's co-founder Victor, Santiago R Santos, Matr1x's co-founder Saku, and other esteemed investors.

Mable Jiang, the Chief Revenue Officer of FSL, said:

“At FSL, we support projects that are innovative and have synergy to the broader FSL ecosystem. The necessity for a more scalable and secure data availability network is evident to us, and we believe that Dill's sharding-based data availability network offers tremendous value and unique solutions to other chains and rollups. We look forward to seeing its growth and are excited to build alongside the team.”

This strategic investment is set to propel Dill's mission to create the most scalable data availability infrastructure, a critical element for the advancement of decentralised applications (dApps) and blockchain technology.

The funding will undoubtedly expedite the development of Dill's innovative infrastructure, ensuring it caters to the needs of a rapidly decentralising world.

Dill's recent funding success signifies a pivotal moment in its trajectory, with the influx of capital poised to accelerate the evolution of the blockchain ecosystem.

Ted, the co-founder of Dill, expressed his excitement:

“We're thrilled to have all the investors' support, their backing is invaluable. With this round investment, we’ll advance Dill to the next phase, driving continuous innovation and enhancement across our technology, offerings and community. We will further gear up to serve all other chains, builders and the next billion users. We're proud to partner with our backers as we strive to achieve our mission.”

Dill Public Testnet is Live!

Over the past year, the Dill team has led numerous research initiatives in areas such as data availability, sharding, Kate-Zaverucha-Goldberg (KZG) cryptography, and fast commitment generation.

Dill stands as the first blockchain network to fully align with the Danksharding roadmap, bringing this vision to fruition.

After a year of operating in stealth mode, the team unveiled Dill to the world, presenting their thesis and completing a private testnet in May.

Their ambitious roadmap progressed with the launch of the public testnet on 28 June, marking a significant milestone as they successfully met major development goals and passed stringent stress tests.

Benchmark results suggest that Dill has achieved a scalability and performance level 10 times that of its competitors (with more detailed information to be shared in the future), positioning them favourably for subsequent phases.

The team plans to gradually open-source their code on GitHub and release benchmarks for analysis.

They will soon provide more details and technical guidance on participating in the Dill Public Testnet, including instructions for running validators and light clients.

Dill's journey is just commencing, and they extend a warm invitation to all chains, rollups, RaaS projects, and others to collaborate with them.

On 15 July, the team posted an update on the Public Testnet, noting that they have received an overwhelming 25,000 submissions globally to become validators.

Dill, the First Modular Network Fully Compatible with the Danksharding Roadmap

Data availability is fundamental to blockchain technology, ensuring that all data required for transaction validation is both accessible and verifiable.

As the blockchain ecosystem grows, the demand for scalable data availability solutions intensifies.

Without such solutions, blockchain networks can be vulnerable to data withholding attacks, compromising their integrity and functionality.

Dill is dedicated to tackling these issues by developing the most scalable data availability infrastructure.

The Dill platform can be categorised into three functional components: Consensus, Data Availability Sampling, and Blobstream.

By harnessing cutting-edge technologies and innovative methodologies, Dill aims to offer a solution that is:

- Highly Scalable: Designed to manage a large volume of transactions and data points, maintaining smooth operation as the network expands.

- Secure and Reliable: Employing sophisticated cryptographic methods to safeguard data integrity and thwart malicious activities.

- Efficient: Streamlining data distribution to minimise redundancy and enhance retrieval speeds, thereby reducing operational expenses.

- Compatible with Emerging Technologies: Seamlessly integrating with advanced blockchain scaling techniques like Danksharding to boost overall network efficiency.

Dill's vision is to provide a highly scalable, fast, and secure data availability service that other blockchains can utilise, laying a robust infrastructure foundation to facilitate widespread blockchain adoption and support the onboarding of the next billion users.

Dill is spearheading a data availability network with innovative sharding technology, enhancing data throughput, ensuring fast finality, and offering affordability while preserving the decentralised security nature of blockchain technology.

According to Dill's documentation:

“Dill is a high-scalable and highly secure next-generation DA (Data Availability) network. Dill aligns with the Full Danksharding technical solution in Ethereum's future roadmap, adopting core technologies such as subnet sharding, 2D EC (Erasure Coding), KZG (Kate-Zaverucha-Goldberg), and DAS (Data Availability Sampling). It provides scalability that is 10 to 100 times greater than other current DA networks. Dill is a permissionless and decentralized PoS (Proof of Stake) network that supports millions of validators. It enables BTC staking and restaking for participation in the PoS network consensus, further enhancing the network's security.”

What is Danksharding?

Full Danksharding, also known as 2D PeerDAS, is a technical upgrade designed to make Ethereum work more efficiently.

Think of it as a way to organize and manage data in a smarter way.

Currently, Ethereum can struggle with handling lots of transactions quickly, which slows things down.

Full Danksharding helps by breaking up data into smaller, more manageable pieces and distributing them more effectively.

This means that the network can process more transactions at once and improve overall performance, making Ethereum faster and more scalable.

Ted, Co-Founder

Ted is a co-founder of DILL and has a distinguished background in technology and security.

Previously, he was the co-founder and CTO of Secure3, a software engineer at Amazon, and a founding developer at CertiK.

He holds a master's degree in computer science from Yale University.

Not much detail can be found about Ted and the profile picture he used on his X account is that of Saitama from One Punch Man.

His socials: X

Dill's Socials

Website

X

Discord

Securing the Future: The Road to Innovation

Dill's recent funding achievement highlights the increasing awareness of the critical role that scalable data availability plays within the blockchain ecosystem.

This funding will be pivotal in expediting research and development, recruiting top-tier talent, and forging strategic alliances that will fuel innovation.

Dill's dedication to constructing the most scalable data availability infrastructure is not merely about augmenting blockchain performance; it is about establishing the groundwork for a decentralised future where data is accessible, secure, and managed efficiently.

Coinlive believes that despite being a relatively new project without significant hype, the support from investors in the pre-seed and founders round is a clear endorsement of the confidence in Dill's vision and the transformative potential of its scalable data availability infrastructure, further solidified by its acceptance into the Binance Labs Incubation Programme.

With the Public Testnet now operational and plans to launch the mainnet later this year, investors should maintain a keen eye on this emerging project.