Binance launches $ 1 billion fund to develop BSC
Binance launches $1 billion fund to develop Binance Smart Chain
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of a $1 billion fund to develop and support the Binance Smart Chain ecosystem. The fund will be divided into four programs:
- talent development ($100 million),
- stimulating liquidity ($100 million),
- incentives for developers ($300 million),
- investment program ($500 million), which will be aimed at supporting startups.
It's time to accelerate #BinanceSmartChain's journey towards scaling and mass adoption 🚀
We're announcing the biggest growth fund in the history of crypto – the $1 billion fund to push the adoption of not only BSC but the whole blockchain industry.
— Binance Smart Chain (@BinanceChain) October 12, 2021
After the exchange announced the launch of a new fund, the exchange rate of the internal token of the Binance Coin trading platform increased by 9%. At the time of this writing, the altcoin is trading at $430, and its capitalization is $72.5 billion.
According to a report by DappRadar, in the third quarter of this year, activity on the Binance Smart Chain network grew by 20%.
Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.