BNB Chain (BNB) has launched a $100 million program designed to bootstrap the liquidity of centralized exchange (CEXS) native projects.
According to a March 24 announcement, the network has allocated $100 million incentives, primarily in the form of native BNB tokens.
The program aims to “foster the growth of the project by further enhancing ecosystem fluidity in BNB chains and encouraging exchanges to list native BNB chain tokens.”
BNB Chain previously launched two small liquidity incentive programs, allocating two tranches of $4.4 million in February and March, encouraging CEX lists for MemeCoins and other ecosystem projects.
Rewards vary depending on the salience of the exchange list. Source: BNB Chain
The network’s latest liquidity incentive programme will run on a first come first served basis and will run over a probationary period of 3 months, it says.
Among other standards, only projects with a market capitalization of at least $5 million and a daily trading volume of $1 million will be covered, according to BNB Chain.
The biggest reward (permanent liquidity of $500,000) is said to be reserved for projects listed in major CEXS, such as Binance and Coinbase.
According to the BNB chain, the rewards are limited to the liquidity of BNB tokens that are less toxic tolerant, and in other cases, it also involves creating bidirectional liquidity for purchasing project tokens.
Chain by TVL. Source: Defilama
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Competitors who are behind
According to data from Defillama, the total value of the BNB chain is around $5.4 billion (TVL).
According to Defilama, it ranks fourth among TVL’s blockchain networks, with leading smart contract platforms Ethereum and Solana behind with around $46 billion and $7 billion respectively.
The BNB chain is partnering with Binance, the world’s largest cryptocurrency exchange.
In March, the Wall Street Journal reported that an entity affiliated with US President Donald Trump was in talks to purchase Binance.us, an independently operated US crypto exchange.
Former Vinance CEO Changpeng “CZ” Zhao has denied many of the report’s claims, including a proposal that Trump is forgiven Zhao following his conviction for violating the bank’s secret laws.
In 2023, Binance paid a $4.3 billion penalty and agreed to plead guilty to violating the bank’s secret laws for the shortcomings of Binance’s anti-money laundering program.
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