Today, Binance officially launched the $100 million Binance Smart Chain (BSC) Accelerator Fund. Through this program, we will provide liquidity support for the launch of projects based on the BSC ecosystem and help warm up the market for blockchain protocols in terms of liquidity and locked values.
The first phase of the BSC Accelerator Fund program provides total $10,000,000 in liquidity support, with AMM (automated market maker) projects such as Pancakeswap, Burgerswap, Bakeryswap, and decentralized lending provider Fortube being the first batch of blockchain protocols receiving such liquidity support.
The projects may decide on their own whether to accept such support. Binance will then gradually add liquidity within 1-2 weeks after this public announcement.
The $100 million accelerator program for BSC contains the following:
1. Developer Bounty: The BSC BUIDL Reward Plan. This will reward developers who deploy usable protocols and tools onto BSC. More details to be announced soon in further announcements, including our upcoming AMA for BSC.
2. Startup seed fund: This will encourage and attract more projects to build on BSC. We also want to help these projects in building their respective teams. We will reveal the first batch of projects that will benefit from this fund later today.
3. Liquidity support: The $10,000,000 in liquidity support we just mentioned above. This aims to increase the liquidity of the BSC ecosystem and to help bootstrap the initial liquidity of new protocols.
4. BSC Foundation: This will provide incubation, acceleration, and other support for upcoming BSC projects. It will launch soon.
In the future, BSC will announce more details of the Accelerator Fund, and we welcome more ecosystem contributors to participate in building the BSC community.
Launched in September, BSC has successfully introduced 10 projects, and over 20 projects are being deployed on BSC. We are happy to see that many projects have chosen BSC. By now, the total locked value on BSC has reached $220,000,000, with over 120,000 on-chain addresses and over 180,000 transactions daily. This is quite an achievement for a project that has been in operation for less than two months. We look forward to seeing BSC’s long-term development and its key role in the decentralized world.
If you have any technical inquiry on project development, please join our Developer Telegram Group or send an email to firstname.lastname@example.org. If you are looking for liquidity support, please send an email to email@example.com.
Note: Binance’s key membership of the BSC community and its active participation in liquidity support does not represent Binance’s or Binance-related entities’ investment on related projects and should not be deemed as any investment advice. investing through DeFi mining requires a certain level of knowledge. Please conduct your own research beforehand, and invest at your own risk.