BNBChain is enhancing its $100 million incentive program by introducing direct token acquisition.
Following feedback from the ecosystem, BNB Chain has decided to pivot from its initial liquidity program for memecoins, decentralized finance, artificial intelligence, and gaming tokens, as it was not yielding the desired results.
The $100 million program was initially launched to encourage centralized exchanges to list native BNB Chain tokens in March 2024.
The objective was to boost on-chain liquidity and reinforce market foundations, with projects receiving rewards for listing on CEXs based on tiers. Leading exchanges such as Binance, Coinbase, and Upbit were in tier one, while tier two and three included platforms like Kraken, Bybit, OKX, and others. Rewards ranged from $10k to $500k.
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After a three-week pilot, feedback indicated that the initial model was not effective, leading to the decision to shift towards supporting high-performing projects through direct investments.
Projects with a market cap exceeding $1 million and meeting certain trading and liquidity criteria can qualify for a “qualified pool.” Selected projects will receive $100,000 worth of tokens purchased by the BNB Chain Foundation.
“BNB Chain Foundation also retains the flexibility to determine the timing and handling of token purchases,” the platform stated.
This initiative is focused on tokens that are 100% BNB Chain native, including those that have migrated successfully from other chains. The platform has witnessed a surge in new projects across various sectors such as DeFi, AI, web3 gaming, and memes.
Some notable launches include Quex Tech, Crypto Use, BNB4.AI, and Market.Win.
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