BNB Chain Launches $1 Million Gas Subsidy Program to Promote Web3 Innovation

BNB Chain has unveiled a new Gas Grants Program that will provide over $1 million in rewards to support Web3 innovation and growth. According to the BNB Chain Blog, the initiative, which will run for three months, aims to support startups and developers to achieve significant business success within the BNB Chain ecosystem.

Program Eligibility

This program is open to: Decentralized applications (dApp) will be deployed on the BSC/opBNB mainnet after January 1, 2024. Eligible projects must have an average daily active user (DAU) of 100 or more for the 30 days prior to the announcement and must have passed at least one security audit. Interested projects can register to participate in the program.

Key Dates

The program begins on August 19, 2024, and the registration period begins on the same day. The competition will last for three months.

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

Compensation will be paid within one week from the end of each month.

Prize Pool and Reward Structure

The program provides a maximum of $440,000 per month, calculated as 80% of the total gas fee generated by all participants. For example, if the total gas fee in a month is $10m, the bonus pool is capped at $440,000. Participants are ranked and rewarded based on DAU and gas fee, with a weighting ratio of 70% for gas fee and 30% for DAU.

The reward structure is structured in stages as follows:

• 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 show positive growth in gas fees or DAU to receive rewards. The program applies to both opBNB and BSC networks, and projects deployed on both networks compete separately on each chain. Participants only need to register once, and the leaderboard is updated weekly.

Rewards will be paid in two parts. 50% will be paid within two weeks after the end of each month, and the remaining 50% will be paid one month later if the gas fee reduction is less than 15%. The BNB Chain Core Team will pay rewards based on the real-time BNB token exchange rate on the payment date.

The BNB Chain Core Team reserves the right to disqualify projects that are involved in fraudulent activities and to modify or cancel the program at any time without prior notice. In case of any inconsistency, the English version of the program details shall prevail.

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

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