BNB Chain, the world’s largest smart contract blockchain in terms of daily active users, has announced the launch of the BNB Chain Builder Grant, which will invest up to $1.5 million in the world’s most innovative Web3 teams. The goal is to help teams scale their projects, but without having to give equity to angels or VC-backers. Grants will be given to ten projects over a period of one month, with each project getting a maximum of $50,000. The application period will begin on October 3, 2022.
BNB Chain Grant: About it
The shortlisted grantees will get $10,000 upon announcement and an additional $20,000 after their deployment on BNB Chain. Then, specialized guidance and marketing support will be provided by BNB Chain experts to help with continued growth. The selected projects will get an extra $20,000 in tangible support upon achieving these objectives.
Gwendolyn Regina, Investment Director at BNB Chain said: “Through the BNB Chain Builder Grant, our goal is to collaborate with industry-defining individuals working on innovative projects who seek the necessary support to propel their ideas without losing ownership or control to investors. It will apply to projects across all stages in their journey, including the ones wanting to transition to BNB Chain.”
“This is also an effort to provide builders the chance to tackle challenges in emerging categories such as public goods, music and blockchain. However, we are not restricting applications to particular subsectors. In fact, we are more interested in strong teams that have already begun to demonstrate good traction relative to the stage of development they are now at,” Regina added. The application period is open for a week from the first to the seventh of every month, after which a rigorous three-week evaluation procedure will select up to ten projects for grants. Teams can access the BNB Chain Builder Grant portal and register to participate in the selection procedure. Projects can now submit for the October Grant period.
The projects will be evaluated based on Daily Active Users (DAUs) and Total Value Locked (TVL), as these metrics offer an indicator of the progress made in the journey. However, the opportunity is also accessible to projects that can demonstrate exceptional traction via community adoption, number of users, etc.
BNB Builder Grant is especially interested in discovering and collaborating closely with teams that can help in bringing the next billion users to Web3. Initially, the program will be piloted for three months.