Crypto exchange operator Binance in a recent announcement, launches a $1 billion fund for growing the Binance Smart Chain (BSC) ecosystem. Notably, The huge fund is into four categories.
Namely;
Talent development, liquidity incentive program, builder program, and investment and incubation program.
Furthermore, In value, The talent development program worth $100 million. Also, the purpose is to examine developer communities while providing academic scholarships to institutions. Also, it will support the research and development activities around crypto and blockchain.
More so, The liquidity incentive program is worth $100 million. Which of course, will be liquidity providers supporting decentralized finance (DeFi) protocols built on BSC.
On the other hand, The Binance builder program is worth $300 million but its into two sub-categories.
Namely;
$100 million for hackathons, bug bounty and development programs and
$200 million for 100 decentralized apps building on top of BSC.
Additionally, the investment and incubation program gets the bigger part of the fund at $500 million. Furthermore, the purpose is for startups investments. Of course, including decentralized computing, gaming, metaverse, virtual reality, artificial intelligence. Then, blockchain-based financial services.
“BSC’s growth has attracted 100M+ DeFi users with just an initial funding of $100 million.”
said Binance CEO Changpeng “CZ” Zhao.
“With the new contribution of $1B, it can disrupt traditional finance and accelerate global…”
“mass adoption of digital assets to become the first-ever blockchain ecosystem with one billion users.”
Lastly, Zhao reveals he’s focusing more and more on BSC. He plans for it to mirrior a platform like Ethereum.
“We want to have like 20,000 or more active projects, real projects on BSC…”
“That’s kind of the minimum goal that we want to achieve over the next year or two,”
he said at the time.
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