Binance Smart Chain Launches $1 Billion Fund

While everybody else is preoccupied with their own marketing rackets, the biggest Bitcoin and altcoin cryptocurrency exchange in the whole world in terms of volume, Binance, will take things a couple of notches higher.

To maintain their commanding lead and stay a few steps ahead of the pack, Binance will launch a $1 billion crypto mass adoption initiative and growth fund for Binance Smart Chain which will fast track public utilization of digital assets and different cryptocurrencies as well as accelerate the development of blockchain technology. 

With over one hundred million daily users thanks to the massive growth brought about by an initial funding of $100 million, Binance Smart Chain is definitely on a roll. Binance CEO Changpeng Zhao “CZ” wants to keep the momentum going so they can head for bigger things down the road according to their blueprint, trigger global mass adoption of digital assets, and become the first blockchain ecosystem with one billion daily users.

This blockbuster funding dedicated for community growth is a clear testament to how big Binance Smart Chain has become through the years and users can expect great things ahead that will surely help them diversify their financial portfolio and protect their investments. 

Innovation and the Development of Talents

In the spirit of transparency and full disclosure, CEO CZ shared that the billion-dollar fund is compartmentalized and broken down into four categories to show everyone where the funds will be funneled and provide a roadmap about their plans for the rest of the year and for the coming months of 2022. First and foremost, they will allocate $100 million for talent development and innovation because they want to offer official mentorship to the next generation of talents from dApp development communities as well as guide new crypto investors by helping them learn and thrive in the ecosystem. 

They will do this by doling out academic scholarships to deserving recipients, spearheading intense boot camps and training seminars to sharpen their skills, investing on research and development as well as building solid cross chain and multi-chain infrastructures. 

Liquidity Incentive Program

Next in line is their intensified advocacy towards trading as they set aside $100 million for their Liquidity Incentive which is geared towards running a multitude of sub-programs designed specifically to entice and encourage active participation of users in traditional financial markets alongside cryptocurrencies. This will, in turn, provide support and flexibility for individual day traders and trading institutions alike which translates to more liquidity in certain decentralized finance protocols. 

Tech Startups and Boost for Builders

$300 million is dedicated for their exciting Builder Program and this big budget is further divided into two major thrusts. $100 million is allotted for engaging the community in their own global hackathons, developer conferences, and cooperative bug bounty programs while at the same time lending support to preexisting development initiatives. Meanwhile, $200 million will be channeled towards incubating 100 new dApps and building infrastructures on top of Binance Smart Chain. The proponents of these projects will receive mentorship and guidance from world-renowned venture capitalists as well as round the clock support from the BSC core community. 

Vested on Investments 

As a coup de grace for their desire to hit that one billion mark that will strengthen their foothold as the undisputed leader of the metaverse, the lion’s share of their funding is earmarked for investment programs aligned with industrial development. $500 million will be used for the growth of blockchain gaming, artificial intelligence, virtual and augmented realities, decentralized computing, and financial services within the metaverse. They cannot possibly do this on their own because of the sheer scale and magnitude of their plans. Good thing that with a budget like that, they have attracted partners and forged collaborations with FinTech companies, blockchain researchers, decentralized finance advisors as well as other industry-leading organizations that can help them spread across blockchain-rich countries like Russia, India, Europe, USA and South East Asia.

You might also like:

Leave a Comment