Wednesday, October 20, 2021

Binance entices crypto developers with $1 billion to use BSC

The $1 billion fund would help “push the adoption of not only BSC but the whole blockchain industry.”

• October 12, 2021

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.”

More from Peoples Gazette

Gilbert Chagoury and Jeff Fortenberry


FBI charges U.S. Congressman in Eko Hotel owner Gilbert Chagoury corruption trial

Jeff Fortenberry will make an initial court appearance before a federal judge in Los Angeles on Wednesday.

Russian President, Vladimir Putin


Russia not interested in gas price hike: Putin

“Therefore we are not interested in the endless growth of prices for energy resources, including gas,” Mr Putin said on Wednesday.

Buhari and PDP


#EndSARS now symbol of Buhari’s murderous regime: PDP

“EndSARS has become the emblem of the resistance by Nigerians against the insensitive, incompetent corrupt, divisive and decadent APC administration.”

U.S. Secret Service officers


U.S. Secret Service nabs eight Nigerian Black Axe cultists for multimillion-dollar fraud

The Black Axe defendants and other conspirators worked together from Cape Town to engage in widespread internet fraud involving romance scams and advance fee schemes.


Doctors place Queen Elizabeth on royal rest

She is resting at Windsor Castle, the world’s oldest inhabited castle.