Crypto Exchange Binance has launched a 1 billion fund that calls it “the largest funding program of its kind in the entire cryptocurrency industry.” The company aims to fund the adoption of “format smart chain” and “whole blockchain industry”.
Beyonc has launched ‘the world’s largest crypto accelerator’
The cryptocurrency exchange Binance announced on Tuesday the launch of a $ 1 billion Binance Smart Chain (BSC) fund. The announcement states:
Benson has announced the largest funding program of its kind in the entire cryptocurrency industry – a 1 billion fund to embrace the entire blockchain industry, not just BSc.
The Binance Smart Chain Mainnet was launched in September last year. At the time, the company announced a $ 100 million BSc Accelerator fund to support DAPS Building in BSc. It has seed-financed more than 40 projects up to 1 million. In addition, more than 0 projects have been incubated under the company’s Most Valuable Builder (MVB) Accelerator program.
According to Binance, BSC’s community of more than 1 million active users daily is spread across more than 900 DAPs.
Benson divides the new $ 1 billion into four different categories: $ 100 million for talent development, $ 100 million for the liquidity incentive program, $ 300 million for the builder program, and $ 500 million for the investment and incubation program. The company described:
With a total of $ 1 billion in available funds, it is the largest crypto accelerator in the world. The program is designed to increase the growth and innovation of projects and empower the wider community and create crypto-native pool talent that will facilitate the future of crypto.
What do you think about launching this 1 billion fund? Let us know in the comments section below.
Image credit: Shutterstock, Pixabay, WikiCommons
Denial: This article is for informational purposes only. It is not a direct offer or request for a purchase or sale offer, nor is it a recommendation or approval of a product, service or company. Bitcoin.com does not offer investment, tax, legal or accounting advice. The Company or the Author is not directly or indirectly responsible for any loss or damage caused by or in connection with the use or reliance on any content, product or service referred to in this article.