BNB Chain Introduces $1 Million Gas Grants Program to Foster Web3 Innovation

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Exciting news in the world of cryptocurrency! BNB Chain has just announced a groundbreaking $1M Gas Grants Program designed to support Web3 startups and developers. This initiative is a game-changer in the industry and is set to drive innovation and growth within the BNB Chain ecosystem over the next three months.

Luisa Crawford
Aug 19, 2024 13:20

BNB Chain announces a $1M Gas Grants Program aimed at supporting Web3 startups and developers over a three-month period.

BNB Chain Launches $1M Gas Grants Program to Boost Web3 Innovation

Unlocking Opportunities for Web3 Innovators

BNB Chain’s Gas Grants Program is a unique opportunity for decentralized applications (dApps) deployed on the BSC/opBNB mainnet after January 1, 2024. To be eligible for this program, projects must have a minimum average daily active user count of 100 in the 30 days leading up to the announcement and must have undergone a security audit. This program aims to empower startups and developers to achieve significant success within the BNB Chain ecosystem.

Important Dates to Remember

The Gas Grants Program kicks off on August 19, 2024, with the registration period opening on the same day. The competition will run for three months, with rewards being distributed within one week after the end of each month. Mark your calendars for the following key dates:

  • Month 1: September 1 – September 30, 2024
  • Month 2: October 1 – October 31, 2024
  • Month 3: November 1 – November 30, 2024

A Generous Prize Pool and Reward Structure

Participants in the Gas Grants Program have the chance to win up to $440,000 per month, with rewards calculated as 80% of the total gas fees generated by all participants. The reward structure is tiered based on project performance:

  • Tier 1 (Top 1-3): 80% gas fee refund, up to $50,000 per project
  • Tier 2 (Top 4-8): 50% gas fee refund, up to $30,000 per project
  • Tier 3 (Top 9-15): 30% gas fee refund, up to $20,000 per project

Exclusive Details and Opportunities

Projects must show positive growth in either gas fees or daily active users to qualify for rewards. The program applies to both opBNB and BSC networks, and rewards will be distributed in two parts. The BNB Chain core team oversees the program and reserves the right to amend or cancel it at any time.

Participation in the Gas Grants Program is voluntary, and projects must adhere to additional terms and conditions. Extreme Investor Network is excited to be a part of this innovative initiative and looks forward to supporting Web3 innovators in achieving their goals.

Disclaimer: Participation in the BNB Chain Gas Grants is optional, and eligible projects must agree to additional terms and conditions. BNB Chain does not control the activities of community participants and does not endorse any third-party projects.

Image source: Shutterstock

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