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Accelerate
Since the announcement of the BNB Chain's $1 Billion Fund in October, we have made tremendous progress deploying the funds! The fund accelerated the growth of various decentralized projects and pushed the adoption of not only BNB Chain but the whole blockchain industry. The fund is divided into four categories, each aiming at different challenges and goals. Here's a snapshot of what we have done in the past month across these four pillars.
We also published the $1B Fund landing page where you can get all the information you need about how this fund works, how we use the money, and where.
If you only read one thing: The talent-focused fund is being spent on educational events, hackathons, and university support with a ton of events already completed and more coming up soon. We also started recruiting talent to work on BNB Chain by listing 9 open positions in the BNB Chain core team.
A total of $100M funds are reserved for Talent Development, focusing on advancing research, education, and career opportunities in crypto and Web3.0. This category is devoted to crypto education and raising a crypto-native talent pool.
In the past month, we have worked closely with our partners and the communities to strategically split our effort into 4 areas.
Find out more about $100 million Talent Development!
If you only read one thing: The Liquidity Incentive started working immediately after the deployment with 4 projects onboarded and benefiting from the liquidity. More projects will be joining them soon.
A total of $100M funds are reserved under the Liquidity Incentive Program to help projects achieve sustainable liquidity and user growth.
The program targets 3 categories of projects:
Over the past month, Deri Protocol, MCDEX, Decentral Games, and WooTrade have received liquidity from this program. One thing worth noting is that all 4 projects participated in the Most Valuable Builder program, with Deri Protocol and MCDEX winning #MVBIII.
Want to learn more about the $100 million Liquidity Incentive? Watch our sharing session, or check out our previous article.
If you only read one thing: we’ve been very active in sponsoring hackathons to support the next generation of builders, and we’ve seen lots of great progress with the teams emerging from Most Valuable Builder as they’ve been able to meet many industry leaders through the newly launched incubation program.
This category injects $300 million into Builder & Incubation Programs, split into 2 categories – $100m for hackathons and events and $200m for the BNB Chain Most Valuable Builder program.
We allocated $100M to regional and global hackathons, white hackers benefiting joint bug bounty programs, running developer conferences, and supporting existing mainstream development programs.
BNB Chain Most Valuable Builder (MVB) program is already becoming one of the best incubation programs. $200M from our fund will be used to expand MVB and incubate 100 innovative dApps and infrastructure providers building on top of BNB Chain who will receive mentoring from top venture capital and technical support from the BNB Chain core community.
We have accomplished a lot regarding #MVB in the past month!
Explore BNB Chain's Most Valuable Builder!
If you only read one thing: We’re actively using the funds to recognize and support projects with high potential and innovation. So far, we have invested in Avocado Guild, Quidd, SecondLive, Deri protocol, MCDEX, and Project Galaxy.
With this fund, we aim to grow decentralized computing, gaming, metaverse, virtual reality, artificial intelligence, and financial services, which will not be limited to BNB Chain but also support all the blockchain infra. With collaborations from industry-leading organizations, the investment fund will target scaling blockchain technology for real-life use cases and will bridge the gap between crypto-blockchain and the current technical-financial sectors.
In the past month, we have invested in a few promising projects, including Deri Protocol, MCDEX, Project Galaxy.
Want to learn more about the $500 Million Investment Program? Watch our sharing session here or check out our previous article.
Have some unanswered questions?
Watch our AMA with Gitcoin on the $1B Growth Fund.
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