Introducing the BUIDL Reward Program for BNB Smart Chain
To further encourage the development of the dApp ecosystem on BNB Smart Chain, we have committed $5 million USD worth of BNB to the newly-launched BNB Smart Chain BUIDL Reward Program. Participate here.
This program seeks to reward developers who deploy usable dApps onto BNB Smart Chain. This is part of our bigger $100 million commitment to a DeFi accelerator fund that seeks to bridge DeFi and centralized finance (CeFi) solutions, therefore promoting greater freedom of money to everyone.
As the BNB Smart Chain ecosystem develops, Binance will adjust the program accordingly to deliver the best support possible to developers who come in as BSC pioneers.
The reward comes in the form of a rebate, under the following rules:
1. Anyone who deploys callable smart contracts can register their smart contract addresses into a smart contract on BNB Smart Chain. During the registration, we will ask for the smart contract address and the reward receiver address of the qualifying participant. Only registrations submitted by the deployer address will be honored. Users can also check the result of their registration on BNB Smart Chain through smart contracts. Go to this guide from the BNB Chain blog to learn how to participate in the BUIDL program.
2. All the gas fees paid from transactions that call the registered smart contracts will be calculated, and a certain percentage will be recorded and accumulated as a reward. Please note that all the gas fees paid by this transaction, including gas spent within the called first-level contract, together with all the gas spent in the contracts called by the first-level contract, will be ascribed to the first-level contract. This is because the first-level dApps drive blockchain usage.
3. The rewards will be in BNB, and they will be sent to the registered receiver addresses every month during the duration of the program, as long as the accumulated reward for that contract is above 2 BNB. Detailed statistics on reward accumulation and distribution will be published on the Binance.org blog.
To promote further development on BNB Smart Chain, Binance will set the reward percentage to 30% for the rest of 2020, or until the entire $5 million in BNB is fully spent, whichever comes first. For example, we will reward qualified developers equivalent to 30% of gas paid by triggering the registered contracts. The first distribution will happen on October 31, 2020.
Binance reserves the right to make adjustments to any or all of the terms and conditions above.
Welcome to BNB Smart Chain! Happy coding and enjoy your rewards!
If you want to introduce your project to BSC, send us an email at buidl@binance.org. If you want to apply for the BSC Accelerator Fund, fill-up the form here.