BNB Chain Extends 0 Gas Fee Campaign By 3 Months To Drive Stablecoin Adoption
Dubai, UAE, December 30th, 2024, Chainwire
BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, has announced the extension of its Gas-Free campaign for stablecoin transactions by an additional three months. Originally launched on September 19, 2024, this initiative has been pivotal in stablecoin adoption and enhancing user experience within the ecosystem. The campaign will continue through March 31, 2025, enabling users to conduct stablecoin transactions on the BNB Chain without incurring gas fees.
Key Highlights of the Extended Campaign
Centralized Exchanges (CEXs):
- Major exchanges like Binance continue to offer 0-fee withdrawals for USDT, USDC, and FDUSD on the BNB Smart Chain (BSC) and opBNB networks. Other platforms, including Bitget, Ourbit, Bitmart, Gate.io, BingX, and Lbank, will also provide 0-fee withdrawals on these networks throughout the promotional period, ensuring accessibility for a broad user base.
Wallet Providers:
- Wallet providers such as Bitget Wallet, Safepal, Tokenpocket, Wello, Mathwallet, and UXUY have each pledged $25,000 to cover gas fees for stablecoin transfers on the BNB Chain. This initiative allows users to perform up to six free transfers daily, simplifying transactions and encouraging broader ecosystem engagement.
Bridging Services:
- Partnerships with Meson.fi enable users to bridge assets from other chains to BNB Chain without incurring platform fees. These integrations streamline the onboarding of stablecoins into the ecosystem, ensuring a seamless and hassle-free experience.
Notable Ecosystem Growth
- Since its launch, the Gas-Free campaign has driven the adoption of stablecoins on BNB Chain, which now account for 8.8% of all transactions on the network.
- The stablecoin ecosystem on BNB Chain has reached a market capitalization of $5.9 billion, establishing it as the third-largest stablecoin ecosystem globally.
- During the campaign’s first week, BNB Chain’s stablecoin market share increased by 2.1%.
- USDT, USDC, and FDUSD have emerged as the most utilized stablecoins on the network, respectively.
- Additionally, the Total Value Locked (TVL) Incentive Program has accelerated stablecoin growth by rewarding DeFi projects that prioritize stablecoin and BNB staking. This program has contributed to a 6% quarter-over-quarter increase in TVL, reaching $5 billion in Q2 2024.
By extending the 0 Gas Fee Campaign, BNB Chain aims to create an accessible and frictionless ecosystem for stablecoin users and DeFi enthusiasts. This initiative aligns with BNB Chain’s broader mission to onboard the next billion Web3 users and provide solutions that drive mainstream adoption.
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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.
