Binance Establishes $ 1 Billion Fund to Develop BSC Ecosystem

Binance will commit $ 1 billion to the development of the Binance Smart Chain (BSC) ecosystem.

With total available funding of 1 billiondollars 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 dollars are allocated formentoring, educating investors, organizing training programs and supporting research and development on cutting-edge innovations in the field of blockchain and cryptography. 

2. Liquidity incentive program 

The Liquidity Initiative will launch various programs to develop young digital asset markets. 

3. Program for developers 

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 allocated to the development of startups, game development, virtual reality, etc. 

After the announcement of the support program, the price of BNB– Binance's own token and BSC – grew by more than 10%. At the time of publication, BNB is trading at $460 USD, with trading volume up over 44%.

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