News

BNB Chain Gas Grants Program Launched with Total Rewards of Over $1 Million

Key Points:

BNB Chain Gas Grants Program has been launched with over $1 million in rewards to developers on the opBNB and BSC networks.
Eligible projects include dApps deployed after January 1, 2024, with a minimum DAU of 100 and at least one security audit.

BNB Chain has announced the BNB Chain Gas Grants Program to encourage innovation within its ecosystem.

BNB Chain Gas Grants Program Launched for Developers

According to the official blog, up to three months of activity have been planned to motivate the involvement of developers through rewards totalling above $1 million.

Under the BNB Chain Gas Grants Program, the total gas fees accrued from participating projects would be kept at 80% as rewards for both the opBNB and BSC networks. Conditions under which participating projects operate in either network will depend on facets such as gas fees and daily active users.

Noticeably, in case a project works on both opBNB and BSC, then it will be ranked separately on every chain. If it gets ranked among the top 15 in both, then it shall receive the higher reward for one of the chains only; the prize of the other lower position shall be passed on to the immediately next in line. Under no circumstances can a project claim rewards on both networks at once.

BNB Chain Expands Dev Support with Grant Initiatives

The program includes dApps whose mainnet is launched on BSC or opBNB after January 1, 2024; at least 100 DAU in the 30 days before the announcement date; and must have completed at least one security audit. Applications for the BNB Chain Gas Grants Program will open on August 19, 2024. Rewards will be given on a first-come-first-served basis, up to $440,000 monthly.

This move will be very cementing with regards to the focus of the platform in building a rich developer community. This is especially so since, in April itself, BNB Chain announced the US$ 200,000 DAU Incentive Program to support DeFi projects on BSC.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.