Binance cryptocurrency <a href="https://www.cryptoknowmics.com/news/binance-will-no-longer-offer-derivatives-trading-in-south-africa/">exchange</a> has announced a $1 billion accelerator fund to further expand the development of projects in the Binance Smart Chain ecosystem.
<h2 class="title">Binance Launches $1 Billion Fund for BSC Development</h2>
Binance is going to divide the new $1 billion fund into four different categories: $100 million for talent development, $100 million for the liquidity incentive program, $300 million for the builder program, and $500 million for the investment &amp; incubation program.

The largest benefactor, the investment &amp; incubation program will focus on multi-chain expansion which will include various metaverses, gaming, virtual reality, and artificial intelligence.

In the press release, Binance CEO Changpeng Zhao <a href="https://www.binance.org/en/blog/binance-launches-one-billion-binance-smart-chain-fund-to-reach-one-billion-crypto-users/" target="_blank" rel="nofollow noopener">said</a>:

<em>“BSC’s growth has attracted 100 million more DeFi users with just initial funding of $100 million. With the new contribution of $1 billion, it can disrupt traditional finance and accelerate global mass adoption of digital assets to become the first-ever blockchain ecosystem with one billion users.”</em>

Launched in September 2020, <a href="https://www.cryptoknowmics.com/news/wormhole-now-connects-solana-to-binance-smart-chain/">Binance Smart Chain</a> was introduced as a foundational launchpad to foster the development of decentralized applications compatible with the Ethereum blockchain through the Ethereum Virtual Machine.

At the time, Binance announced a $100 million BSC Accelerator Fund to support Dapps building on BSC and has gone on to seed-fund over 40 projects with up to $1 million. In addition, over 60 projects have been incubated under the company’s Most Valuable Builder (MVB) Accelerator Program.
<h2><strong>BSC Boasts Over 1 Million Daily Active Users</strong></h2>
Since its inception, Binance Smart Chain has grown in to expand services to over a million daily active users across a wide range of more than 900 decentralized applications (dApps).

Data from <a href="https://bscscan.com/chart/tx" target="_blank" rel="nofollow noopener">BscScan</a> shows there are about 98.9 million unique addresses on BSC as of Oct. 10, with a daily transaction number of nearly 6.3 million. As a comparison, there were a total number of nearly 172 million unique addresses on Ethereum on the same day with about 1.1 million daily transactions based on data from <a href="https://etherscan.io/chart/address" target="_blank" rel="nofollow noopener">Etherscan</a>.

Binance to Launch $1 Billion Fund to Grow its Smart Chain

Binance has announced a $1 billion accelerator Chain to further accelerate the development of projects in the Binance Smart Chain ecosystem.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Binance to Launch $1 Billion Fund to Grow its Smart Chain

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