BNBChain announced the launch of a $100 million permanent liquidity plan

Source Cryptopolitan

BNB Chain has begun round three of its liquidity program. This time, they’re implementing a $100 million permanent liquidity support program. This round will extend to all industries, including memes, AI, DeFi, gaming, and more.

The aim is to improve on-chain liquidity by giving incentives to the native project tokens on the BNB Chain. The program starts today, March 24, and will be tested for three months. During that time, changes will be made based on what people say.

The exchange rankings will be based on CMC spot rankings and standards. Category 1 has the most popular exchanges: Binance, Coinbase, and Upbit. If you put your business on any of these sites, you could win up to $500,000.

Category 2 has Kraken, Bybit, and OKX. If you list on any of these, you can get a prize of up to $250,000. Lastly, users who put their coins on Bitget, Mexc, Gate.io, Kucoin, or Crypto.com will get a reward of $10,000, with a maximum of $50,000.

If your BNB Chain native tokens are mentioned on any of these three types of centralized exchanges, you will be able to get the rewards that go with them. Each project can get more than one prize. If a project meets all three criteria, it can get a total liquidity incentive of $800,000.

In addition, rewards will be distributed on a first-come, first-served basis to projects that meet the criteria.

What makes you eligible?

First, the token must be built 100% on the BNB Chain. There is also no chance for unfairness. How? Projects that were already on exchanges before the campaign started can’t get rewards.

In addition, on-chain requirements include a market cap of at least $5M, at least 10,000 holding addresses, a daily average on-chain trade volume of at least $1M, and the right amount of tokens being given out.

After succeeding, you can claim the rewards. However, before claiming rewards, the token has to have been live for at least 48 hours.

BNB Chain will post the winners’ names on its X account after verifying that they meet the requirements. Liquidity support will be given within five days of the winners’ names being named.

There are consequences for fraud. Therefore, any project caught committing fraud will be rejected. Also, the project is giving a chance to tech gurus. This is how: A $10,000 BNB Chain prize will be given to the first person in the community who can show proof of fraud. 

The BNB chain increases its dominance

Earlier today, on-chain data showed that the BNB Chain ecosystem has had more decentralized exchange (DEX) trade volume than any other blockchain, reaching a total of $14.336 billion over the past week. This accomplishment shows that BNB Chain is becoming increasingly dominant in DeFi and user involvement.

Source:  DeFiLlama

This accomplishment has been realized through the projects that the chain has been up to. Last week, the chain completed the Pascal upgrade. It is expected to make things work better.

For instance, with EIP-7702, smart contract wallets can work in more situations. This makes it easier for users to connect with decentralized apps (dApps). Thanks to improvements in gas fee abstraction, users will also not have to worry about difficult fee structures.

Smart payment interfaces and batch transfers make the process even easier to use. This means that the cost goes down. This has sparked some excitement even with other projects that are to follow in the next month to increase its speed

Meanwhile, the price of one BNB coin stayed at $638 as it continued to form a bullish rising triangle. After several tests, BNB’s $640 has shown itself to be a strong resistance point. However, it has maintained a green price in the last two weeks.

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Disclaimer: For information purposes only. Past performance is not indicative of future results.
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