BNB Chain Revamps $100M Incentive Program to Boost Platform Usage

BNB Chain has announced a significant upgrade to its $100 million incentive program following a three-week pilot phase. The initial assessment of the program's outcomes indicated that the improvements were not as substantial as anticipated. In response, BNB Chain has introduced a new token acquisition strategy aimed at enhancing its fundamental metrics and providing better support for preferred projects. This update is designed to boost platform usage and achieve the intended goals.

The revamped program focuses on two main categories of assets: trading-based assets and TVL-based assets. For a trading-driven asset to qualify, it must have a market capitalization of at least $1 million, 300 or more daily active traders, and a daily trading volume exceeding $200,000. TVL-driven assets, on the other hand, must have a total value locked (TVL) surpassing $20 million. Additionally, the top 10 external addresses (EOAs) must hold no more than 10% of the total token supply, with tokens locked or released progressively over the specified period. This rule excludes large-scale custody wallets and those affiliated with known Binance figures. Token contracts must also be verified on BscScan or undergo a security audit, and projects will be reviewed for potential financial and smart contract risks.

From the pool of eligible candidates, the BNB Chain Foundation will select projects that meet these criteria. Each chosen project will receive a minimum investment of $100,000. The foundation will announce these investments on the official BNB Chain X account, ensuring transparency within the crypto community. The program will primarily focus on BNB Chain’s native tokens, including new or existing assets and those migrated from other blockchains.

The foundation will evaluate the assets based on capitalization, the number of traders, and trading volume. These metrics help identify projects with greater growth potential and increased community support. Projects must meet security and on-chain data standards to qualify for listing. BNB Chain is committed to maintaining the integrity of the program and will disqualify any project associated with fraudulent activities such as wash trading or market manipulation. Projects reported as scams with conclusive evidence will not be allowed to participate.

The terms of the program are subject to change at any time, and participants should be aware that modifications may occur without prior notice. The foundation reserves the right to cancel, extend, or modify eligibility criteria and requirements, the selection process, and the timeline. Participants should also be aware that the terms of participation may be amended as needed.

This revamped incentive program is a strategic move by BNB Chain to drive major growth and improve its platform metrics. By focusing on transparency, fairness, and security, BNB Chain aims to support projects with genuine potential and foster a more robust ecosystem. The new token acquisition strategy and stringent eligibility criteria are designed to ensure that only high-quality projects receive support, thereby enhancing the overall value and credibility of the BNB Chain platform.