BNB Chain Launches Gas Grants Program Worth Over $1M to Boost Dapp Success
Dubai, UAE, August 19th, 2024, Chainwire
BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, announces the launch of its enhanced Gas Grants Program. This initiative aims to drive sustained innovation and growth within the BNB Chain ecosystem by offering over $1 million in rewards over the next three months. Registration can be made here.
The BNB Chain Gas Grants Program aims to incentivize and support decentralized apps (Dapps) and developers making significant contributions to the BNB Chain ecosystem. By extending the program across three months, BNB Chain seeks to create a thriving environment for Dapp innovation, helping developers achieve success and expand their reach. This initiative aligns with BNB Chain’s mission to drive global Web3 adoption and onboard the next billion users.
The program is open to Dapps deployed on BNB Smart Chain (BSC) or opBNB mainnet after January 1, 2024, with an average daily active user (DAU) count exceeding 100 within the 30 days before the announcement. Additionally, eligible projects must have completed at least one security audit.
Registration for the program will open on August 19, 2024, with the competition divided into three periods: Month 1 from September 1, 2024, 00:00 UTC to September 30, 2024, 23:59 UTC; Month 2 from October 1, 2024, 00:00 UTC to October 31, 2024, 23:59 UTC; and Month 3 from November 1, 2024, 00:00 UTC to November 30, 2024, 23:59 UTC.
Each month, up to $440,000 will be awarded, which is calculated as 80% of the total gas fees generated by all participating Dapps within the period. For example, if total gas fees in a month reach $10,000, the bonus pool will be $8,000. If the total fees amount to $10 million, the pool will be capped at $440,000. Rewards will be distributed based on DAU and gas fee metrics, with a weighting ratio of 70% for gas fees and 30% for DAU. The reward structure is as follows:
- Tier 1 (Top 1-3): 80% gas fee refund ratio, up to $50,000 per project.
- Tier 2 (Top 4-8): 50% gas fee refund ratio, up to $30,000 per project.
- Tier 3 (Top 9-15): 30% gas fee refund ratio, up to $20,000 per project.
This program offers a substantial opportunity for Dapp developers to enhance their projects and gain significant rewards. Interested projects are encouraged to register and participate to maximize their potential share of the $1+ million reward pool. The Gas Grants program is part of BNB Chain’s broader builder support program that includes:
- Ideation phase: Hackathons, BNB Incubation Alliance (BIA), Most Valuable Builder (MVB), and potential grants from BNB Chain and investment from Binance Labs.
- Post-deployment phase: Incentives and grants for DAU, total value locked (TVL), and trading volumes.
For further details, users can visit the BNB Chain Gas Grants Program and to register can visit here.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:
- BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
- opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
- BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.
Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.
For more, users can follow BNB Chain on X or start exploring via the Dapp library.