Introduction
In its mission to onboard the next billion users and bridge the gap between Web2 and Web3, BNB Chain is intensifying its focus on stablecoins through a series of retention-driven initiatives. These initiatives include the Total Value Locked (TVL) Incentive Program, deeper integration of stablecoins into its decentralized finance (DeFi) ecosystem, and the newly launched Gas-Free Campaign.
Gas-Free Campaign: Zero Fees for Stablecoin Transfers
BNB Chain’s Gasless Carnival Season eliminates gas fees for transferring or withdrawing stablecoins (USDT, FDUSD, USDC) on the BNB Smart Chain (BSC) and opBNB. This campaign, which started on September 19, 2024, is accessible across various platforms including:
- Binance
- Bitget
- Gate.io
- MEXC
- Wallets like Bitget Wallet and SafePal
The campaign also covers transfers via Celer cBridge, making stablecoin transactions faster and more cost-effective.
TVL Incentive Program
The TVL Incentive Program offers a total prize pool of up to $300,000 to encourage DeFi projects to increase their TVL on BNB Chain. This program rewards growth in stablecoin and BNB staking, and is open to all DeFi projects on opBNB and BSC. It features two main challenges:
- BNB Staking Challenge: $100,000 prize pool
- TVL Challenge: $200,000 prize pool
Participants will be ranked based on incremental TVL growth, with special weighting for stablecoins (FDUSD, USDT, USDC) and BNB. The program runs from September 12 to October 11, 2024.
DeFi Integration: High APY Opportunities
BNB Chain is enhancing stablecoin utility by integrating them into leading DeFi platforms like Venus and PancakeSwap. This allows users to stake and provide liquidity with competitive annual percentage yields (APYs). Through this initiative, stablecoin holders can earn returns while contributing to the liquidity and stability of BNB Chain’s DeFi ecosystem.
Stablecoin Adoption and Real-Life Utility
To increase the practical use of stablecoins, BNB Chain is collaborating with payment gateways to facilitate real-world transactions. This integration bridges the digital and traditional financial systems, positioning stablecoins as a key driver in BNB Chain’s strategy for mass adoption.
Conclusion
Through these initiatives, BNB Chain is reinforcing its commitment to making cryptocurrency as accessible and practical as traditional money. By driving forward the adoption of decentralized finance and stablecoins, BNB Chain is setting the stage for a new era of financial inclusion.
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