Binance puts up $100 million to attract DeFi projects to its new blockchain

advertisement

Crypto exchange Binance has unveiled a new initiative — backed by a $100 million pot — to attract would-be-developers and projects to its recently unveiled Binance Smart Chain.

Participants can garner up to $100,000 via the program. The unveiling comes more than a week after Binance launched Smart Chain, billed as a smart contract-focused companion to its existing Binance Chain. 

Based on comments from Binance thus far, the initiative appears focused on fostering work on decentralized finance applications on Binance Smart Chain.

"For developers who want to develop projects on Binance Smart Chain, we are launching the a $100 million fund  to seed different projects," Binance CEO Changpeng Zhao said during a Thursday livestream. Zhao added that the initiative builds on existing sources of funding for developers. 

 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More