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

BNB Chain has announced the launch of its enhanced Gas Grants Program, a three-month initiative designed to support and incentivize innovation within the BNB Chain ecosystem. With over $1 million in rewards up for grabs, this program aims to help startups and developers achieve real business success while contributing to the broader goal of onboarding the next billion Web3 users.Who Can Participate?The program is open to:Dapps deployed on the BSC/opBNB mainnet after January 1, 2024.Projects with an average daily active user (DAU) count of over 100 in the 30 days before the announcement.Projects that have undergone at least one security audit.Eligible projects are encouraged to register and participate in this unique opportunity to accelerate their growth and make a lasting impact on the blockchain ecosystem.Key Dates to RememberLaunch Day: August 19, 2024Registration Period: Begins August 19, 2024Competition Periods:Month 1: September 1 - September 30, 2024Month 2: October 1 - October 31, 2024Month 3: November 1 - November 30, 2024Reward Distribution: Within one week after each monthPrize Pool and Reward StructureThe program boasts a substantial monthly prize pool, with up to $440,000 available per month. The rewards are calculated based on 80% of the total gas fees generated by all participants during the competition period.Reward Tiers: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.Participants will be ranked based on their DAU and gas fee, with a weight ratio of 70% for gas fees and 30% for DAU.How to Get StartedTo participate, projects must complete the registration process. If your project qualifies, don't miss this chance to join the BNB Chain Gas Grants Program and maximize your chances of earning a share of the $1+ million reward pool.Important Notes:Only projects showing positive growth in either gas fees or DAU will qualify.The program applies to both opBNB and BSC networks.Projects can only win once per chain, even if they qualify on both.The leaderboard will be updated weekly, starting September 5th.