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Binance announces Yi He as head of venture capital arm

Crypto exchange, Binance, has announced the appointment of its cofounder, Yi HE, as the new head of its venture capital (VC) arm and incubator, Binance Labs. The exchange made this known through a blog post relayed on Wednesday. 

According to Binance CEO Changpeng Zhao, Yi He has been actively involved in the Lab’s affairs since its creation. Changpeng stated that Yi had played a crucial role in recognizing early-stage projects and founders with the vision and drive to disrupt global institutions that no longer serve the society effectively. 

He further regarded the appointment as a perfect moment for Yi to take on a more significant role in the Labs. He revealed that the market had presented a remarkable opportunity to recognize projects with the potential to flourish in challenging market conditions.

Yi He will supervise global strategy and daily activities at Binance Labs. Also, she will concentrate on supporting infrastructure projects and expanding utility in innovative crypto and blockchain projects.

In addition, Yi’s goal is to lead the future adoption of Web3 and blockchain technology by laying the principle for the blockchain industry. Under her leadership, Binance labs will work on investing in capable, driven founders who will shape the industry’s future.

Reacting to the development,  Yi stated that her ability to recognize actors with skills and embody the values needed to thrive in an environment where limited resources are part of her journey. According to her, her goal in the space as a leading player is to help define the industry standard. She hopes to promote sustainable projects and create an ecosystem of excellent blockchain solutions that empowers the whole industry.

Furthermore, Yi believes Web3 will only become entirely acceptable when its products are consistent with users’ demands. She stated the firm is directing its resources towards projects that encourage widespread adoption. Yi said these are projects that would push the limitations of Web3 technology and build products that deliver solutions to actual problems.

Similarly, Yi will continuously oversee and assist the organization’s essential business endeavors and units, including customer support, institutional business, marketing, Binance P2P, and Earn.

Since its establishment,  Binance Labs has focused on early-stage projects in Key verticals. This strategy has helped Binance labs carry out successful projects such as Polygon, FTX, Certik, Nym, and Dune Analytics.

Recently, the team closed a $500 million investment fund. The fund witnessed participation from Global investors such as DST Global Partners and Breyer Capital. Some of its current portfolio companies and key projects like Multiverse.

Related

How do pass arguments to a mint function for the ERC155 smart contract?

I am trying to write a handleMint() function in my React app using Ethers.js. My smart contract uses the ERC1155 standard. I’m having trouble writing the handleMint() function so that it passes the necessary arguments to my smart contracts mint function. Here is my handleMint() function is js: async function handleMint1() { console.log(props.accounts) if (window.ethereum)::Listen

I am trying to write a handleMint() function in my React app using Ethers.js. My smart contract uses the ERC1155 standard. I’m having trouble writing the handleMint() function so that it passes the necessary arguments to my smart contracts mint function. Here is my handleMint() function is js:

async function handleMint1() {     console.log(props.accounts)     if (window.ethereum) {       const provider = new ethers.providers.Web3Provider(window.ethereum);       const signer = provider.getSigner();       const contract = new ethers.Contract(         charlesWhitsteenProjectAddress,         charlesWhitsteenProjectNFT.abi,         signer       );       try {         const response = await contract.mint(props.accounts, BigNumber.from('1'), BigNumber.from(mintAmount1), {           value: ethers.utils.parseEther((0.01 * mintAmount1).toString())         });         console.log('response: ', response);       } catch (err) {         console.log('error: ', err)       }     }   } 

props.accounts is passing in the address of the connected wallet. BigNumber.from('1') is supposed to be the token ID, and the BigNumber.from(mintAmount1) is supposed to be the amount of tokens to mint.

Here is my mint function in Solidity:

function mint(address _recipient, uint256 _tokenId, uint256 _amount) public payable {          if(whitelistedAddresses[msg.sender] == 0) {             require(mintEnabled, "Minting has not been enabled.");             require(msg.value == _amount * mintPrice, "Incorrect mint value.");         } else {             require(whitelistGiveaway, "Whitelist giveaway has not been enabled");             require(isValid(_tokenId) == true, "Whitelist giveaway is no longer valid.");             whitelistedAddresses[msg.sender] -= _amount;         }          require(_amount >= 1, "please enter a valid number");         require(totalSupply[_tokenId] + _amount <= maxSupply, "Sorry, you have exceeded the supply.");         require(tokenIdMints[msg.sender][_tokenId] + _amount <= maxPerTokenId, "Sorry, you have exceeded the alotted amount per token ID.");          totalSupply[_tokenId] += _amount;         tokenIdMints[msg.sender][_tokenId] += _amount;         _mint(_recipient, _tokenId, _amount, "");              } 

And finally, here is the error message I’m getting in my console when I click the Mint button in my app:

error:  Error: invalid address or ENS name (argument="name", value=["0x7c4029baab6092faa64465cbcdac0d979079eb01"], code=INVALID_ARGUMENT, version=contracts/5.6.2) 

It looks like the problem, at this point is the address (props.accounts). Can anyone tell me how I can properly pass arguments to my mint function?

Binance announces Yi He as head of venture capital arm

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