BNB Chain Introduces Gas-Free Stablecoin Transfers Amidst Expanded Infrastructure

BNB
Chain,
a
prominent
blockchain
network,
has
unveiled
the ‘Gas-Free
Carnival’
initiative,
allowing
users
to
transfer
stablecoins
without
incurring
gas
fees.
This
move
aims
to
simplify
stablecoin
transactions
and
reward
the
BNB
Chain
community,
according
to
the

BNB
Chain
Blog.

Partnerships
with
Leading
Exchanges

To
facilitate
this
initiative,
BNB
Chain
has
partnered
with
several
leading
centralized
exchanges
(CEXs)
including
Binance,
Bitget,
Gate.io,
and
MEXC.
Users
can
withdraw
stablecoins
such
as
USDT,
USDC,
and
FDUSD
to
the
BNB
Smart
Chain
(BSC)
and
opBNB
networks
without
any
fees
during
the
promotion
period.
The
event
runs
from
September
20,
2024,
to
October
19,
2024,
for
most
exchanges,
with
MEXC
extending
its
promotion
until
November
9,
2024.

Wallet
Support
and
Sponsorship

BNB
Chain
has
also
collaborated
with
Bitget
Wallet
and
SafePal,
offering
$25,000
each
to
cover
gas
fees
for
their
users.
Each
wallet
address
will
be
eligible
for
up
to
six
free
transfers
per
day,
provided
each
transfer
is
at
least
$0.10
worth
of
stablecoins
on
the
BSC
network.
This
promotion
runs
concurrently
with
the
CEX
promotion,
from
September
20,
2024,
to
October
19,
2024.

Bridging
Assets
with
Celer
cBridge

For
users
with
assets
on
other
chains,
BNB
Chain
has
teamed
up
with
Celer
cBridge
to
offer
a
gas-free
bridging
experience.
This
collaboration
allows
users
to
bridge
their
stablecoins
to
BSC
or
opBNB
without
incurring
fees.
Additionally,
users
can
claim
100%
gas
fee
rebates
in
FDUSD
for
eligible
transactions.
The
promotion
runs
from
September
20,
2024,
to
October
19,
2024,
with
a
cap
of
$50,000
for
gas
fee
rebates.

Maximizing
Stablecoin
Utility

BNB
Chain
encourages
users
to
utilize
their
stablecoins
across
various
DeFi
platforms
to
earn
rewards.
Opportunities
include
staking,
yield
farming,
and
liquidity
mining
on
protocols
such
as
Aave,
Venus,
Kinza
Finance,
PancakeSwap,
Thena,
Astherus
Finance,
Radiant,
and
Uniswap.
For
instance,
Venus
offers
APYs
of
up
to
21.86%
for
FDUSD,
while
Kinza
provides
up
to
37.01%
for
the
same
stablecoin.

Liquidity
Pools
and
Additional
Opportunities

Users
can
also
contribute
liquidity
to
StableSwap
and
potentially
earn
rewards
through
various
protocols.
PancakeSwap,
for
example,
offers
APYs
of
up
to
12.34%
for
USDC/FDUSD
liquidity
pairs,
while
Thena
and
DODO
provide
APYs
of
8.37%
and
9.3%
respectively
for
USDT/USDC
pairs.

BNB
Chain
is
actively
collaborating
with
additional
CEXs,
wallets,
and
bridges
to
expand
this
initiative.
The
core
team
reserves
the
right
to
amend
or
cancel
the
Gas-Free
Carnival
at
any
time
without
prior
notice.
Participation
in
the
BNB
Chain
Gas-Free
Carnival
is
optional
and
does
not
constitute
financial
advice.
Always
conduct
personal
research
before
engaging
in
DeFi
activities.

Image
source:
Shutterstock