BNB Chain Launches $1M Gas Grants Program to Boost Web3 Innovation

BNB
Chain
has
unveiled
a
new
Gas
Grants
Program,
offering
over
$1
million
in
rewards
to
support
Web3
innovation
and
growth.
This
initiative,
set
to
run
for
three
months,
aims
to
assist
startups
and
developers
in
achieving
significant
business
success
within
the
BNB
Chain
ecosystem,
according
to

BNB
Chain
Blog.

Program
Eligibility

The
program
is
open
to





decentralized
applications
(dApps)
deployed
on
the
BSC/opBNB
mainnet
after
January
1,
2024.
Eligible
projects
must
have
an
average
daily
active
user
(DAU)
count
of
over
100
in
the
30
days
preceding
the
announcement
and
must
have
undergone
at
least
one
security
audit.
Interested
projects
can
register
to
participate
in
the
program.

Key
Dates

The
program
launches
on
August
19,
2024,
with
the
registration
period
opening
on
the
same
day.
The
competition
will
span
three
months:

• Month
  1:
  September
  1
  –
  September
  30,
  2024
• Month
  2:
  October
  1
  –
  October
  31,
  2024
• Month
  3:
  November
  1
  –
  November
  30,
  2024

Rewards
will
be
distributed
within
one
week
after
the
end
of
each
month.

Prize
Pool
and
Reward
Structure

The
program
offers
up
to
$440,000
per
month,
calculated
as
80%
of
the
total
gas
fees
generated
by
all
participants.
For
example,
if
the
total
gas
fee
in
a
month
is
$10
million,
the
bonus
pool
will
be
capped
at
$440,000.
Participants
will
be
ranked
and
rewarded
based
on
their
DAU
and
gas
fee,
with
a
weight
ratio
of
70%
for
gas
fees
and
30%
for
DAU.

The
reward
structure
is
tiered:

• Tier
  1
  (Top
  1-3):
  80%
  gas
  fee
  refund,
  up
  to
  $50,000
  per
  project
• Tier
  2
  (Top
  4-8):
  50%
  gas
  fee
  refund,
  up
  to
  $30,000
  per
  project
• Tier
  3
  (Top
  9-15):
  30%
  gas
  fee
  refund,
  up
  to
  $20,000
  per
  project

Additional
Program
Details

Projects
must
demonstrate
positive
growth
in
either
incremental
gas
fees
or
DAUs
to
qualify
for
the
rewards.
The
program
applies
to
both
opBNB
and
BSC
networks,
and
projects
deployed
on
both
networks
will
compete
separately
for
each
chain.
Participants
only
need
to
register
once,
and
the
leaderboard
will
be
updated
weekly.

Rewards
will
be
distributed
in
two
parts:
50%
within
two
weeks
after
each
month’s
end
and
the
remaining
50%
after
a
month,
provided
the
gas
fee
reduction
is
less
than
15%.
The
BNB
Chain
core
team
will
distribute
rewards
according
to
the
real-time
BNB
token
exchange
rate
on
the
distribution
day.

The
BNB
Chain
core
team
reserves
the
right
to
disqualify
projects
involved
in
fraudulent
activities
and
to
amend
or
cancel
the
program
at
any
time
without
prior
notice.
In
case
of
discrepancies,
the
English
version
of
the
program
details
will
prevail.

Disclaimer:
Participation
in
the
BNB
Chain
Gas
Grants
is
optional,
and
eligible
projects
must
agree
to
additional
terms
and
conditions.
BNB
Chain
does
not
control
the
activities
of
community
participants
and
does
not
endorse
any
third-party
projects.

Image
source:
Shutterstock