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- BNB Chain shifts $100M incentive plan to direct token acquisition, focusing on high-potential projects.
- The new model targets projects with a market cap over $1M, 300+ daily traders, or $20M TVL for direct investments.
- The revised plan aims to foster growth in DeFi, AI, web3 gaming, and memecoins, supporting high-potential projects.
BNB Chain has also revised the previously announced $100M incentive plan, shifting to direct token acquisition. According to the recent update, this change has been made in response to feedback from the ecosystem, which highlighted that the initial liquidity program was inadequate.
The previous model focused on centralized exchanges to initially list tokens related to the BNB Chain. However, its effectiveness was not as effective. This proposal entails changing the current approach and aims to offer more targeted help to high-potential initiatives.
In March, native BNB Chain formally unveiled the first incentive plan, which provides different exchange rates for exchanges that populate the native BNB Chain tokens. These rewards varied from $10,000 to $500,000, and the top exchanges such as Binance, Coinbase, and Upbit all fell in the major grade. The objective was to increase market turnover and establish a solid foundation. However, BNB Chain launched a three-week pilot and then realized that this approach did not yield the intended outcomes.
New Model Requirements
BNB Chain had to adjust its operational direction. This will be achieved by shifting from listing the platform to acquire promising projects directly in exchanges. Accordingly, projects must meet some conditions to be in the new model, such as a Market capitalization greater than $1 million, more than 300 traders per day, or a TVL of $20 million. It will also consider aspects such as security on the projects which it intends to fund in these chains.
The BNB Chain Foundation will invest tokens directly in qualified projects. Every selected project shall be granted Tokens worth $100,000. Nonetheless, the Foundation will be flexible on the timing and manner of undertaking the purchases. This new approach is directed towards providing more focused financial aid to those projects that display improved performance and greater potential for development.
BNB Chain Supports Innovation
It also orients the upgrade toward the ecosystem of BNB Chain projects. These comprise tokens that originate from other blockchains but are now within the BNB Chain environment. The network has experienced a growing level of engagement by the developer in various development fields, including the growing DeFi, AI, web3 gaming, and memecoins development. New projects which include Quex Tech, Crypto Use, BNB4.AI, and Market.Win has recently opened on the platform.
BNB Chain is refocusing on direct investments to better foster sustainable growth and innovation in the ecosystem. The new promotion plan is aimed at giving preference to promising projects and contributing to the continued establishment of BNB Chain as a dominant blockchain ecosystem.
