Binance donates $ 5 million to attract dApp developers


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Binance donates $ 5 million to attract dApp developers

Binance donates $ 5 million to attract dApp developers

  • Binance launches dApp developer reward program.

  • The exchange invested $ 5 million in this project.

  • Binance CEO named PancakeSwap as the most active contract on Binance Smart Chain.

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Binance Launches Multimillion-Dollar Developer Reward Program to Increase the Attractiveness of Building a DApp on Binance Smart Chain Platform.

Binance donates $ 5 million to attract dApp developers

Binance has donated $ 5 million in BNB to a new BUIDL Reward Program launched to reward decentralized application (dApp) developers based on its Binance Smart Chain platform.

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Binance management hopes that this will help increase the attractiveness of the platform in the eyes of the crypto community and lead to a more active development of its ecosystem. In general, this move is part of a larger initiative by Binance, in which the company poured $ 100 million into the DeFi development fund it created. The foundation’s goal is to create solutions that connect the DeFi industryDecentralized finance (DeFi) is a blockchain-based financial service that offers users access to open, efficient and … More and centralized finance (CeFi).

Build and they will come …

With the launch of the BUIDL Reward program, Binance intends to reward developers of dApps powered by Binance Smart Chain. (note: BUIDL is distorted by analogy with HODL English word meaning “build, develop”).

To further encourage the development of the dApp ecosystem on #BinanceSmartChain, we have committed $ 5 million USD worth of #BNB to the newly-launched Binance Smart Chain #BUIDL Reward Program.https: //

– Binance (@binance) October 3, 2020

Binance donates $ 5 million to attract dApp developers

As explained in the company’s official statement,

“Rewards in the form of BNB will be sent monthly to registered recipient addresses for the duration of the program.”.

According to Binance, the amount of reward will be calculated as a percentage based on the value of transactions carried out using this smart contract..

In order to more effectively attract developers to Binance Smart Chain and develop the platform, the project intends to maintain the level of remuneration at the level of 30% either until the end of this year, or until the funds allocated for this initiative are completely spent, whichever comes first..

CZ praises PancakeSwap

Meanwhile, Binance CEO Changpeng Zhao (CZ) was recently spotted on Twitter for advertising PancakeSwap, the most active contract on Binance Smart Chain and yet another coin exploiting the edible / inedible theme. Binance Officially Discreetly Calls PancakeSwap “Relatively New Token”.

[email protected] (not endorsement) is killing it on #BinanceSmartChain (endorsement).

– CZ Binance (@cz_binance) September 28, 2020

BNB’s native coin has also seen a fairly steady gain over the past couple of days, which is likely due to increased buying activity associated with the use of the BSC platform and internal interactions on it..

Binance donates $ 5 million to attract dApp developers

Source: TradingView


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