exchange launched a $1 billion crypto fund to growth and support the adoption of
blockchain technology and the blockchain binance smart chain.
Smart Chain Accelerator Fund’s investment director, Gwendolyn
Regina quotes in a statement, “With the $1 billion initiative, our focus will
be widened to building cross-chain and multi-chain infrastructures integrated
with different types of blockchains.
According to BSC, more than $500 million of the fund will be invested in the
growth of metaverse technologies, gaming, decentralized computing, artificial
intelligence, virtual reality, and blockchain-based financial services.
The rest of the funds will be dedicated to a builder program, which will
receive $300 million, liquidity incentives, and talent development programs
will each receive $100 million.
BSC’s mentorship committee will use the $1 billion fund to help developer
communities throughout the world reach new audiences, grant academic
scholarships to institutions, and encourage developing technology research and
Top VCs will mentor and fund 100 innovative dApps and infrastructures built on
top of BSC. Additionally, it will host conferences, joint bug bounty programs,
and regional and global hackathons.
The BSC community will be a driving force in spreading Binance Smart Chain
geographically, concentrating on regions rich in blockchain
technology such as
Russia, India, South East Asia, Europe, the United States, and South America.
As part of its mission to propagate financial inclusion and sovereignty, the
BSC core community will collaborate closely with top Fintech businesses, crypto
advisors, blockchain researchers, and other prominent individuals in the
Currently, BSC is one of the largest decentralized applications, with over one
million daily active users spread across 900 decentralized apps.
The US, South Africa, and Singapore, among other countries, have all targeted
Binance in recent months because the crypto ecosystem has grown to the point
where authorities are taking notice of its developments. In response, Binance
CEO Changpeng Zhao stated that the company is focussing on compliance and regulation.
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