Binance Labs, the venture capital (VC) arm of the Binance cryptocurrency exchange, announced Tuesday that it will contribute to Oasis Foundation’s $200 million ecosystem development fund, sending a strong signal that major investors were still keen to back emerging projects on alternative blockchain networks.

Binance Labs, along with other prominent VC houses, has invested in the OasisNet, an alternate smart contract platform which intends to be competitive against. Cointelegraph published a November report. Oasis Foundation launched an initial $160 million fund for development.Its blockchain is designed to attract promising startups. Binance Labs was not the only notable VC company that supported its ecosystem development fund.