Binance will allocate $1 billion to develop the Binance Smart Chain (BSC) ecosystem.
With $1 billion in total funding available, it is the world's largest cryptocurrency development fund. The program is designed to stimulate the growth and innovation of projects on the Binance Smart Chain.
The Fund is divided into 4 groups, each of which has its own tasks and goals.
1. Talent Development
$100 million is dedicated to mentoring, investor education, training programs and supporting research and development on cutting-edge innovations in blockchain and cryptography.
2. Liquidity Stimulus Program
The Liquidity Stimulus Initiative will launch various programs to develop young digital asset markets.
3. Developer Program
The Builder program accounts for 300 million. The funds will be used to host hackathons, reward white hat hackers, and hold developer conferences.
4. Investment program
$500 million will be spent on the development of startups, game development, virtual reality, etc.
After the announcement of the support program, the price of BNB - the native token of Binance and BSC - increased by more than 10%. At the time of publication, BNB is trading at $460 dollars, and trading volume has increased by more than 44%.
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