BNB Chain Offers $1M+ in Gas Grants to Boost DApps

Fueling Innovation: BNB Chain Unveils Enhanced Gas Grants Program with $1 Million+ Reward Pool

In a move aimed at fostering sustained innovation and growth within its ecosystem, BNB Chain, the community-driven blockchain platform encompassing the world’s largest smart contract blockchain, has announced the launch of its enhanced Gas Grants Program. This initiative, designed to incentivize and support decentralized apps (Dapps) and developers making significant contributions to the BNB Chain ecosystem, will offer over $1 million in rewards over the next three months.

The Gas Grants Program aligns with BNB Chain’s mission to drive global Web3 adoption and onboard the next billion users. By extending the program across three months, BNB Chain aims to create a thriving environment for Dapp innovation, empowering developers to achieve success and expand their reach.

Eligibility and Registration

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 opened on August 19, 2024, with the competition divided into three periods:

• Month 1: September 1, 2024, 00:00 UTC to September 30, 2024, 23:59 UTC
• Month 2: October 1, 2024, 00:00 UTC to October 31, 2024, 23:59 UTC
• Month 3: November 1, 2024, 00:00 UTC to November 30, 2024, 23:59 UTC

Reward Structure

Each month, up to $440,000 will be awarded, calculated as 80% of the total gas fees generated by all participating Dapps within the period. The reward pool is capped at $440,000, even if total gas fees exceed $5.5 million. 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.

A Comprehensive Builder Support Program

The Gas Grants program is part of BNB Chain’s broader builder support program, which provides comprehensive assistance to developers throughout the project lifecycle. This program 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.

BNB Chain: A Secure and Scalable Ecosystem

BNB Chain is a community-driven blockchain ecosystem composed of:

• BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1, serving as the ecosystem’s governance chain.
• opBNB: A scalable 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.

BNB Chain prioritizes security, with the AvengerDAO community protecting users and Red Alarm providing 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.

The Impact of the Gas Grants Program

The Gas Grants Program is a significant step towards fostering a thriving and innovative Dapp ecosystem on BNB Chain. By incentivizing developers and rewarding their contributions, BNB Chain aims to attract and retain talent, drive adoption, and ultimately solidify its position as a leading blockchain platform for Web3 development.

Conclusion

BNB Chain’s enhanced Gas Grants Program represents a powerful initiative to accelerate innovation and growth within its ecosystem. With a substantial reward pool and a comprehensive builder support program, BNB Chain is committed to empowering developers and fostering a vibrant and thriving Web3 community. This program is a testament to BNB Chain’s dedication to driving global Web3 adoption and onboarding the next billion users.