BNB Chain launches 10 million USD development fund to promote projects on the ecosystem

BNB Chain, one of the most actively used blockchains by daily users in the world, has introduced a new $10 million fund to help projects on the ecosystem attract more users and grow. than.

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BNB Chain "launches" 10 million USD development fund to promote projects on the ecosystem

The fund this time, called the “Growth Incentive Program”, will initially support 10 projects in the fourth quarter of 2022, with gas fee incentives up to 800 BNB total for a month. In addition, individual projects can receive 1 million USD per month to cover spending on gas, transaction fees paid to blockchain network validators for their services.


Gwendolyn Regina, Chief Investment Officer at BNB Chain, said:

“Through the Growth Incentive Program, BNB Chain aims to support projects at various stages of development and directly support user migration.”

Eligibility criteria for the above program requires projects to achieve a basic goal of large daily active users, in line with the growing reception from the community. Only projects that have been deployed on BNB Chain are eligible to participate.

In addition, at the beginning of October 2022, BNB Chain also launched the “Innovation Acceleration Program” in the Europe region, a three-week campaign designed for Web3 startups across Europe. Europe aims to build and scale for dApps, towards a more decentralized future globally. In addition, BNB Chain has also successfully partnered with Google Cloud to provide infrastructure and mentoring for Web3 startups.

However, this is considered as the remarkable efforts of BNB Chain on the way of "recovering" and expanding the trust of users, especially after the event that the "pet" blockchain developed by Binance was hacked for $586 million. However, the BNB Chain team was very quick to fix the problem by conducting a hard fork of the blockchain.

FoxCryptoNews summary

Oct 26, 2022

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