BNB Chain enhances stablecoin retention through TVL incentive program and DeFi integration

[PRESS RELEASE – Dubai, United Arab Emirates, September 27th, 2024]

As a part of our mission to have interaction the subsequent billion customers and bridge the hole between Web2 and Web3, BNB chain is increasing its concentrate on stablecoins by way of a collection of retention-driven initiatives, together with a complete worth locked (TVL) incentive program, deeper integration of stablecoins into its DeFi ecosystem, and newly launched gas-free occasions.

Fuel-free marketing campaign: zero charges for stablecoin transfers

BNB Chain’s Gasless Carnival Season has eradicated Fuel charges for transferring or withdrawing stablecoins (USDT, FDUSD, USDC) on BNB Sensible Chain (BSC) and opBNB. The occasion will begin on September 19, 2024 on platforms akin to Binance, Bitget, Gate.io, MEXC, and wallets akin to Bitget Pockets and SafePal. It additionally covers transfers by way of Celer cBridge, making stablecoin transactions sooner and less expensive.

TVL Incentive Program

The TVL Reward Program gives a complete prize pool of as much as $300,000, encouraging DeFi tasks to increase their TVL on the BNB chain by rewarding the expansion of stablecoins and BNB staking. This system is open to all DeFi tasks on opBNB and BSC and options two challenges: the BNB Staking Problem with a prize pool of $100,000 and the TVL Problem with a prize pool of $200,000. Contributors are ranked primarily based on incremental TVL development, with particular weighting given to stablecoins (FDUSD, USDT, USDC) and BNB. This system will run from September 12 to October 11, 2024.

DeFi Integration: Excessive APY Alternatives

BNB Chain additional enhances the utility of stablecoins by integrating stablecoins into high DeFi platforms akin to Venus and PancakeSwap, permitting customers to stake and supply liquidity with aggressive APY. This initiative offers stablecoin holders the chance to earn rewards whereas contributing to the liquidity and stability of BNB Chain’s DeFi ecosystem.

Stablecoin adoption and real-life utility

To make stablecoins extra sensible for day by day use, BNB Chain is partnering with fee gateways to facilitate real-world transactions utilizing stablecoins. This integration connects digital and conventional monetary techniques, making stablecoins a key driver of BNB Chain’s mass adoption technique.

By these initiatives, BNB Chain is strengthening its dedication to creating cryptocurrencies as simple to make use of and helpful as conventional currencies, driving the adoption of decentralized finance and stablecoins.

For extra data, customers can visit here.

About BNB chain

BNB chain is a community-driven blockchain ecosystem that’s eradicating boundaries to Web3 adoption. It consists of the next components:

• BNB Smart Chain (BSC): A safe DeFi heart with the bottom Fuel payment of any EVM-compatible L1; serving because the governance chain of the ecosystem.
• Operation BNB: Scalability L2, which gives the bottom fuel value and quick processing pace of all L2s.
• Greenfield BNB B&B: Meet the decentralized storage wants of the ecosystem and permit customers to construct their very own information market.

Set excessive security requirements, AvengerDAO The neighborhood protects BNB Chain customers whereas red alert Offers an immediate danger scanner for Dapps. As a part of its ecosystem, the ecosystem additionally presents a variety of currencies and ecosystem rewards Builder Support Program.

To study extra, customers can comply with BNB Chain X or begin exploring by way of them Dapp library.