Business

Binance entices crypto developers with $1 billion to use BSC

Binance has launched a $1 billion cryptocurrency growth fund for developers to help speed up the adoption of digital assets and blockchain technology.

Outlining the fund’s objective, Binance said the $1 billion would help to “push the adoption of not only BSC but the whole blockchain industry.”

Binance, with the fund, wants to “deliver a robust ecosystem for cross-chains and multi-chains to interoperate and work seamlessly while being cost-efficient.”

A breakdown of how the fund will be spent indicates that $500 million is to be set aside for investments to help grow decentralised computing, gaming, metaverse, virtual reality, artificial intelligence and blockchain-based financial services.

Another $300 million is slated for a builder program where $100 million will be used to organise regional and global hackathons, joint bug bounty programs, running developer conferences, and supporting existing mainstream development programs.

The remaining $200 million will be used to expand the builder program and incubate 100 innovative dApps and infrastructure provides building on top of BSC.

The rest $100 million is set aside for liquidity incentives and talent development.

In a blog post on Tuesday, Binance said the fund will help “to accelerate our efforts in scaling these solutions for the masses to build powerful financial infrastructures.”

Read Full Story

Read more

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button