The program, known as the Growth Incentive Program, will initially support 10 projects in the fourth quarter, with gas incentives of up to 800 BNB tokens a month in total. In addition, individual projects can receive $1 million a month to cover fees spent on gas, the transaction fee paid to blockchain network validators for their services.
"Through the Growth Incentive Program, BNB Chain aims to support projects at various stages of growth and provide direct support for user acquisition," Gwendolyn Regina, investment director at BNB Chain, said.
Qualification criteria for the program require that projects achieve a baseline target daily active users every month that is consistent with proof of growing user adoption. Only projects already deployed on the chain are eligible, but they can be at any stage of their journey as long as they have shown consistent user growth.
Earlier this month, BNB Chain launched a European Innovation Incubator, a three-week virtual program designed for innovative Web3 startups across Europe to build and scale dapps, driving towards a decentralized future.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.