BNB Chain’s announces upgrade to $100m incentive program

BNBCHAIN ​​improves its $ 100 million incentive program to include a direct acquisition of tokens.

According to a updateThe change of approach follows the comments of the ecosystem which showed the initial liquidity program for the same, decentralized finance, artificial intelligence and play tokens among other projects on BNB chain was not as effective as expected.

BNB chain initially announced The $ 100 million program aimed at encouraging centralized exchanges to list the native BNB chain tokens in March 2024.

The objective was to strengthen liquidity on the channel and to consolidate market foundations, with projects earning awards for the list of CEX in a several level approach. The best exchanges included BinanceCoinbase, Upbit, while levels two and three consisted in Kraken, Bybit, Okx and Bitget, Mexc, Gate.io, Kucoin, Crypto.com respectively. The awards varied from $ 10,000 to $ 500,000.

According to the BNB channel, comments after a three -week pilot showed that this model did not work, which prompted change. Rather than the incentives aimed at through the lists, the BNB channel now plans to support highly efficient projects via direct investments.

Projects with a market capitalization of more than a million dollars and active daily active merchants above 300 or a total value locked of $ 20 million can enter a “qualified pool”. Other metrics, including security, will apply, with selected projects, the BNB Chain Foundation buy $ 100,000 of tokens.

“BNB Chain Foundation also retains the flexibility to decide when buying tokens and how to manage the tokens purchased,” wrote the platform.

This initiative looks at tokens that qualify as 100% native of the BNB channel, with this label extended to those that have successfully migrated other chains. The blockchain has experienced an influx of new projects while the activity of developers increases through DEFI, AI, Web 3 and memes.

Some of these new launches include Infra Project Quex Tech, Payments Solution Crypto Use, AI propelled Web3 Launchpad BNB4.ai and Market.win, a prediction market based on Oracle data.