BNB Chain Boosts Ecosystem with $100M Incentive Program, Direct Coin Purchases
2min read BNB Chain has announced a significant upgrade to its $100 million incentive program, designed to bolster ecosystem development through the direct purchase of coins. This initiative marks a strategic shift in BNB Chain's approach to supporting projects within its ecosystem, aiming to foster growth and innovation. The program, which has already identified its first set of winners, including KILO, MUBARAK, BROCCOLI714, TUT, and BANANAS31, will provide these projects with the necessary resources to further develop and thrive.
Ask Aime: What are the key factors driving BNB Chain's incentive program upgrade, and how will it impact the ecosystem's growth?
The upgraded incentive program introduces a "Token Direct Purchase" mechanism, which allows the BNB Chain Foundation to select eligible projects from a pool of candidates and make purchases from the foundation's wallet address. This mechanism is based on community feedback and is aimed at more comprehensively and directly supporting the development of ecosystem projects. The program is open to BNB Chain's native assets or cross-chain assets that meet specific on-chain data and security requirements. For transaction-driven assets, the requirements include a market cap of at least $1 million, a minimum of 300 daily unique traders, and a daily trading volume of at least $200,000. For TVL-driven assets, the requirements include a total value locked (TVL) of at least $20 million, with protocol TVL growth as the core evaluation criterion. Additionally, security requirements include that the top 10 external owned accounts (EOA) holding does not exceed 10% of the total supply, excluding centralized exchange (CEX) and CZ-related wallets. Projects must also complete contract verification on BscScan or pass a security audit, as well as undergo multi-risk assessment.
The BNB Chain Foundation will make purchases from the foundation's wallet address, with the purchase time being random. Once the transaction is completed, it will be announced through the official account. The BNB Chain Foundation Purchase Address is 0x511DfE9E248c887E32ca8bF9d1cb76f101965060. This upgraded $100 million incentive plan reflects BNB Chain's continued commitment to supporting builders and creating long-term value for the ecosystem during market fluctuations.
The BNB Chain's quarterly burn mechanism, which reduces the supply of BNB tokens, is also a key component of this strategy. The most recent burn event saw 1.579 million tokens removed from circulation, further enhancing the scarcity and potential value of the remaining tokens. This move is expected to create a more robust and sustainable ecosystem, benefiting both developers and investors. The upgraded incentive program is designed to attract more projects to the BNB Chain, providing them with the necessary resources to thrive. By purchasing coins, the program not only supports the financial health of these projects but also encourages long-term commitment and development within the ecosystem. This approach is likely to foster a more vibrant and competitive environment, driving innovation and growth.
The BNB Chain's focus on ecosystem development is a strategic move to solidify its position in the competitive blockchain landscape. By investing in projects and reducing the supply of tokens, the chain aims to create a self-sustaining ecosystem that can attract more developers, investors, and users. This initiative is expected to have a positive impact on the overall health and growth of the BNB Chain, making it a more attractive platform for blockchain projects. The program's emphasis on direct coin purchases and stringent security requirements underscores BNB Chain's commitment to fostering a secure and thriving ecosystem. This strategic move is likely to position BNB Chain as a leader in the blockchain industry, driving long-term value and innovation for all stakeholders involved.
