News

Binance launches billion Dollar fund to make BSC Better

Binance is arguably the world’s biggest crypto exchange & a leading blockchain ecosystem. It hosts a suite of services from crypto trading, futures, P2P trading to Binance Smart Chain (BSC) and a DEX launchpad. Moreover, the company has launched a billion-dollar crypto mass adoption fund to accelerate digital assets and blockchain technology adoption.

Talking about Binance Smart Chain’s (BSC) growth, CEO Changpeng Zhao ‘CZ’ said:

“BSC’s growth has attracted over 100 million users with its initial funding of $100 million. With the additional contribution of $1 billion, BSC will be better equipped to disrupt traditional finance and accelerate global mass adoption of digital assets to become the first-ever blockchains ecosystem with 1 billion users.”

The $1 billion funds will address four key initiatives: Investments, Builder Program, Talent Development, and Liquidity Incentives.

Out of $1 billion, $500 million will go towards investments in the future. This is to accelerate mainstream adoption of decentralized financial infrastructures. Moreover, this amount will also grow decentralized computing, gaming, metaverse, virtual reality, and artificial intelligence.

As for the remaining $500 million, it will go towards three different sectors:

  • Builder Program ($300 Million)
  • Liquidity Incentives ($100 Million)
  • Talent Development ($100 Million)

The Investment Director of this fund, Gwendolyn Regina, talked briefly about the mentoring committee and its role in reaching new audiences and providing academic scholarships. Moreover, she also spoke about supporting research and development in emerging technologies. A group of top VCs will mentor and provide funding opportunities to 100 innovative dApps.

In addition to this, the BSC community will run regional and global hackathons, joint bug bounty programs and developer conferences.

Related Stories:

Leave a Comment

Your email address will not be published.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

Close Bitnami banner
Bitnami