The BNB Chain ecosystem is witnessing a significant strategy change for its $100 million incentive program, moving towards direct acquisitions of promising crypto tokens.
This adjustment stems from feedback gathered within the ecosystem. Initial reports suggested the original strategy, focused on incentivizing centralized exchange (CEX) listings for projects spanning memecoins, decentralized finance (DeFi), AI, and gaming on the BNB Chain blockchain, wasn’t yielding the desired results.
The $100 million fund was first unveiled in March 2024. Its primary aim was to encourage CEXs to list native BNB Chain tokens, thereby boosting on-chain liquidity and strengthening market foundations for participating projects.
A tiered reward system was implemented, offering incentives for listings on various exchanges. Top-tier platforms included prominent names like Binance and Coinbase, with others such as Kraken, Bybit, OKX, and Gate.io featured in subsequent tiers. Rewards under this initial plan ranged from $10,000 up to $500,000 per project.
However, insights gained from a three-week pilot phase indicated this listing-focused model was underperforming, prompting the strategic shift. Instead of channeling funds through exchange listings, BNB Chain will now directly support high-potential projects via token purchases.
To be considered for this direct support, projects must enter a “qualified pool.” Eligibility criteria include having a market capitalization over $1 million and either exceeding 300 average daily active traders or possessing a total value locked (TVL) of $20 million. Security audits and other metrics will also be evaluated.
Selected projects will see the BNB Chain Foundation acquire $100,000 worth of their native tokens. The foundation retains control over the timing and subsequent handling of these purchased crypto tokens.
This initiative targets tokens that are fully native to the BNB Chain, including those that have successfully migrated from other blockchain networks. The platform has recently seen increased developer activity and an influx of new projects across DeFi, AI, Web3 gaming, and meme sectors.
Notable new additions to the ecosystem include infrastructure developer Quex Tech, payment solution Crypto Use, the AI-driven Web3 launchpad BNB4.AI, and the oracle-based prediction market Market.Win.