BNB Chain (BNB) has launched a $100 million program designed to bootstrap liquidity for its native tasks on centralized exchanges (CEXs).
The community is allocating $100 million in incentives, primarily within the type of its native BNB tokens, to tasks that efficiently listing on any of 11 main CEXs specified by BNB Chain, according to a March 24 announcement.
The program goals to “further enhance BNB Chain’s ecosystem liquidity and foster project growth by incentivizing exchanges to list native BNB Chain tokens,” the chain mentioned within the assertion.
BNB Chain beforehand launched two smaller liquidity incentive applications, allocating two tranches of $4.4 million in February and March to incentivize CEX listings for memecoins and different ecosystem projects.
Rewards fluctuate primarily based on the prominence of the alternate itemizing. Source: BNB Chain
The community’s newest liquidity incentive program will probably be executed on a first-come, first-served foundation and can initially run for a three-month trial interval, it mentioned.
Only tasks with a minimum of a $5 million market capitalization and $1 million in each day buying and selling quantity are eligible, amongst different standards, BNB Chain mentioned.
The largest rewards — $500,000 in everlasting liquidity — are reserved for tasks that listing on main CEXs akin to Binance and Coinbase, it mentioned.
In some instances, rewards will probably be restricted to non-withdrawable BNB token liquidity and in others, they can even embody purchases of venture tokens to create two-sided liquidity, in keeping with BNB Chain.
Chains by TVL. Source: DeFILlama
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Lagging opponents
BNB Chain has a complete worth locked (TVL) of roughly $5.4 billion, according to knowledge from DefiLlama.
It ranks fourth amongst blockchain networks in TVL, lagging behind main sensible contract platforms Ethereum and Solana, with TVLs of about $46 billion and $7 billion, respectively, in keeping with DefiLlama.
BNB Chain is affiliated with Binance, the world’s largest cryptocurrency alternate.
In March, The Wall Street Journal reported that entities affiliated with US President Donald Trump have been in talks to purchase Binance.US, an independently-operated US crypto alternate.
Former Binance CEO Changpeng “CZ” Zhao has denied many of the reports’ claims, together with any suggestion {that a} deal was contingent on Trump pardoning Zhao following his conviction on fees of violating the Bank Secrecy Act.
In 2023, Binance agreed to pay a $4.3 billion penalty and for Zhao to plead responsible to at least one rely of violating the Bank Secrecy Act for shortcomings in Binance’s Anti-Money Laundering program.
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