BNB Chain launches $100M liquidity program

BNB Chain (BNB) has launched a $100 cardinal programme designed to bootstrap liquidity for its autochthonal projects connected centralized exchanges (CEXs).

The web is allocating $100 cardinal successful incentives, chiefly successful the signifier of its autochthonal BNB tokens, to projects that successfully database connected immoderate of 11 large CEXs specified by BNB Chain, according to a March 24 announcement.

The programme aims to “further heighten BNB Chain’s ecosystem liquidity and foster task maturation by incentivizing exchanges to database autochthonal BNB Chain tokens,” the concatenation said successful the statement. 

BNB Chain antecedently launched 2 smaller liquidity inducement programs, allocating 2 tranches of $4.4 cardinal successful February and March to incentivize CEX listings for memecoins and different ecosystem projects. 

Rewards alteration based connected the prominence of the speech listing. Source: BNB Chain

The network’s latest liquidity inducement programme volition beryllium executed connected a first-come, first-served ground and volition initially tally for a three-month proceedings period, it said. 

Only projects with astatine slightest a $5 cardinal marketplace capitalization and $1 cardinal successful regular trading measurement are eligible, among different criteria, BNB Chain said. 

The largest rewards — $500,000 successful imperishable liquidity — are reserved for projects that database connected large CEXs specified arsenic Binance and Coinbase, it said.

In immoderate cases, rewards volition beryllium constricted to non-withdrawable BNB token liquidity and successful others, they volition besides see purchases of task tokens to make two-sided liquidity, according to BNB Chain.

Chains by TVL. Source: DeFILlama

Related: Binance CEO reiterates denial of Trump household woody talks

Lagging competitors

BNB Chain has a full worth locked (TVL) of astir $5.4 billion, according to information from DefiLlama. 

It ranks 4th among blockchain networks successful TVL, lagging down starring astute declaration platforms Ethereum and Solana, with TVLs of astir $46 cardinal and $7 billion, respectively, according to DefiLlama. 

BNB Chain is affiliated with Binance, the world’s largest cryptocurrency exchange. 

In March, The Wall Street Journal reported that entities affiliated with US President Donald Trump were successful talks to bargain Binance.US, an independently-operated US crypto exchange.

Former Binance CEO Changpeng “CZ” Zhao has denied galore of the reports’ claims, including immoderate proposition that a woody was contingent connected Trump pardoning Zhao pursuing his condemnation connected charges of violating the Bank Secrecy Act.

In 2023, Binance agreed to wage a $4.3 cardinal punishment and for Zhao to plead blameworthy to 1 number of violating the Bank Secrecy Act for shortcomings successful Binance’s Anti-Money Laundering program.

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