Detailed explanation of BNB Chain ecological support plan: start-up teams please stay
Original - Odaily
Author-husband how
Since the last bull market, the crypto world has gradually moved towards a traffic-dominated path, especially when the number of applications on the public chain has grown exponentially, causing projects that originally relied on consensus to be dominated by application scenarios. All of this will form prerequisites for Web3 to be adopted on a large scale.
Large-scale adoption requires the drainage of high-quality applications, but back to the essence, the basis of all this is the public chain ecology. The prosperity of the public chain ecology not only requires a sound system to meet the construction needs of different applications, but also requires the support of the public chain for the project team. .
Public chains are like mothers to children. Applications born in public chains need to be raised to adulthood at least. A sound public chain foundation can help applications develop better, and then applications can better feed back the public chain after they are accepted by the market.
At present, most public chains will hold hackathon activities to stimulate the project development of start-up teams. One is to attract the project development of the start-up teams, and the other is to provide some financial and technical support. But hackathons are held every year, and there may be only a few projects among them that are truly well-known.
Will this kind of public chain support be too short-lived and not provide truly comprehensive help to start-up teams, such as the design of the token economy, financing strategies, and user growth strategies?
But the MVB (Most Valuable Builder) accelerator program launched by BNB Chain seems to fill this gap.The MVB program is operated by a three-party collaboration between BNB Chain, Binance Labs and the newly joined CMC Labs (CoinMarketCap’s accelerator program for early-stage projects).
The seventh season of the MVB program is already recruiting. Odaily elaborates on the overview of the MVB program, BNB Chain’s ecological support and its advantages over other public chains.
From point to point, MVB plans a new track to inject vitality into BNB Chain
The MVB program is an accelerator program that lasts approximately 10 weeks. During this period, builders will receive support and guidance from BNB Chain core contributors, the Binance Labs investment team, and the entire ecosystem. The goal of the MVB program is to help builders define and finalize a business idea and provide them with resources, tools, and customized courses to help them build long-term growth product-market fit on BNB Chain.
Starting in 2021, the MVB program has been running for 6 seasons. Previous seasons were organized by BNB Chain and Binance Labs, but this time MVB plans to introduce new member CMC Labs, who will work together to support Web3 builders and promote the development of the BNB Chain ecosystem.
Broaden the track and learn from successful experiences
At the same time, the seventh season of MVB plans to usher in new changes and expand to two tracks.
The first track is the start-up track as before, and the target group is start-up companies that are developing new projects. MVB plans to provide them with comprehensive guidance and advice to help them develop faster;
The second track is the newly added founder track, and its target group is founders with innovative ideas. MVB plans to launch Founder Track in partnership with CMC Labs, which serves as a venture capital studio dedicated to in-depth cooperation with founders and development teams to incubate entrepreneurial projects that can solve real-world needs. These ideas will be deployed on BNB Chain and supported by Binance Labs. The new track aims to incubate 100 innovative ideas based on BNB Chain.
The introduction of the founder track is based on Binance Labs’ past experience in investing and incubating successful entrepreneurial projects. In-depth cooperation with founders and development teams in the early stages often makes it easier to produce impactful projects.
For example, Celestia, SafePal and Polygon. Among them, Celestia received seed round financing from Binance Labs because its founder proposed the idea of pluggable consensus layer and DA layer. It was later successfully deployed on Cosmos and became a representative of modular public chains. .
SafePal and Polygon are the first two representative projects of the Binance Labs incubator plan, and many constructive suggestions were made for these two projects during the plan period.
It can be seen that MVB plans to launch a new track to provide all-round support to the project in its infancy. At the same time, it can imitate the successful experience of previous investments to inject new vitality into the BNB Chain ecology and promote BNB Chain. ecological prosperity.
What to focus on and what to note in the seventh season of the MVB plan
It is worth noting that this MVB plan will pay special attention to the following areas, including SocialFi, full-chain games, intent-centric DApps, digital identity and reputation, AI-based DApps (such as AI-generated content, AI transaction automation and smart contracts audit), high-yield assets (such as LSD, remortgage, and RWA), security and privacy solutions, payment channels using BNB Chain, ZK co-processors, and content and data platforms built with BNB Greenfield.
The application deadline for the seventh season of the MVB program is 07:59 on January 16, 2024, Beijing time. Successful applicants will have the opportunity to work closely with the Binance Labs investment team, BNB Chain core contributors, and the entire ecosystem to turn innovative ideas into reality and contribute to the development of the BNB Chain ecosystem.
Comprehensive, BNB Chain’s comprehensive ecological support
The development of public chain ecology only relies on a single support plan, which will not yield immediate results. A series of ecological support plans are often required to ensure the full-cycle development of the project.
The MVB plan is only part of the roadmap to support BNB Chain builders. The complete roadmap will start from the aspects of visibility, ecological support, experience guidance and financial support. Different ecological support plans will cooperate with each other.
For example, projects participating in the hackathon have a certain priority for subsequent MVB plans and builder subsidies, thus forming a closed loop of ecological support and providing builders and developers with support and services throughout the life cycle.
BNB Chain Hackathon Event
Hackathons have always been a popular new project competition in the encryption world. By bringing together groups with different functions in the industry, everyone can exchange experiences and exchange resources.
However, hackathon activities require the endorsement of core projects behind them, such as well-known public chain projects such as BNB Chain, Ethereum, and Solana. The most important factor is that endorsement determines traffic. The significance of hackathon activities is not only limited to the content on site, but also to the extent of its dissemination.
In November, BNB Chain held a 3-day hackathon event in Istanbul, and a total of 16 projects received hackathon rewards. Among them, Zypher Games won the first place and received a reward of US$15,000.
BNB Chain DAU\TVL Incentive Activities
If hackathons and MVP programs are about discovering high-quality projects, then BNB Chain’s DAU and TVL incentive activities are about providing incentive guarantees for projects after they go online. This allows new projects to smoothly survive the development pressure in the early stages of launch, allowing project parties to rely on support to actively innovate, thereby better attracting new users to participate in the project.
The DAU incentive campaign was launched to serve eligible projects in the BNB Smart Chain (BSC), with a total bonus cap of up to $200,000 BNB. The DAU incentive activity will calculate the bonus based on the gas consumption of the projects that meet the application, and rank according to the DAU (daily active) of each project during the activity period. The top five will share the total reward.
The application conditions for DAU incentive activities are as follows:
● Projects launched within 6 months before the application period;
● In the first 7 days of the application period, maintain a minimum DAU of 10 per day;
● The 20th of each month is the deadline for application. Projects that were eligible in previous months do not need to reapply and will automatically receive support for up to three months if they are still eligible.
Project parties need to note that all three of the above conditions are indispensable.
The TVL incentive campaign is for eligible projects in opBNB, with the total bonus cap in the first phase being up to $160,000 BNB. TVL incentive activities are ranked according to the TVL net growth value of each project during this period, and the top three will share the total reward.
The application conditions for TVL incentive activities are as follows:
● Reviewed projects on opBNB;
● Fill out the application form before the application deadline.
The TVL incentive activity ends before 07:59 on December 15th, Beijing time. Project teams that meet the requirements must apply as soon as possible.
BNB Chain Builder Fund Subsidy
In October 2022, BNB Chain will launch builder financial subsidies for free open source projects that have an impact on the ecology and its community, and provide dozens of financial subsidies every quarter.
Projects applying for subsidies need to meet the following criteria:
● Open source framework
● Free developer tools
● BNB Chain compatible module components
● Additional developer tools and infrastructure
Builder funding subsidies mainly support free open source tools in the BNB Chain ecosystem, and the grant amount is also determined by the quality of the application and the feasibility of the development plan, thereby providing effective support for the long-term development of the BNB Chain ecosystem.
BNB Chain multi-chain protects ecological projects
What I just introduced is BNB Chain’s plan to actively support ecological projects, but the underlying facilities it objectively provides for ecological projects cannot be ignored.
BNB Chain is currently a multi-chain universe integrating L1, L2 and storage built by a single project party. This is different from the multi-chain universe of Ethereum. From the perspective of public chain development rights, Ethereum and L2 do not restrict each other. Even L2 is gradually cannibalizing Ethereum’s traffic and weakening Ethereum’s ecology.
On the other hand, BNB Chain is based on the number of users of the old public chain BSC, relying upwards on OP Stack to build opBNBs second-layer network, and then undertaking new projects with higher requirements, and downwards building BNB Greenfield as a storage layer to undertake L1 and L2 applications. Storage requirements.
The three provide a solid foundation for the rapid development of applications in the future ecosystem of BNB Chain, and provide a good development environment for ecological developers.
Outstanding, BNB Chain’s ecological support scope leads the way
The incentive policies of different ecologies have always been one of the necessary factors for project builders to choose an ecology, except for a few star teams or teams that have achieved success. Most of the remaining entrepreneurs need to consider the supporting policies of the ecosystem after meeting the development environment of the basic project.
At present, the support for most public chain ecology is roughly the same, with hackathon activities as the main support and promotion method, and builder subsidies as a basic guarantee for free projects.
In contrast, the scope of support of the BNB Chain ecosystem is ahead of other ecosystems. As mentioned above, the MVB plan and DAU/TVL incentive activities make it more conducive to adoption by developers. The specific reasons are as follows:
● The two tracks of the MVB plan include the vast majority of start-ups, covering the entire development process from a single innovative solution to already implemented projects.
● Most public chains, except for hackathon activities, do not support start-up projects that have already been launched. Most of them allow them to directly face the market. This can easily lead to the failure of projects due to funding shortages and traffic problems after they go online. In contrast, the DAU/TVL incentive activities provided by BNB Chain help newly launched projects improve a certain fault tolerance rate.
● The construction of underlying facilities is more complete. The multi-chain universe of BNB Chain provides more choices for project developers and builders. Start-ups or builders can choose to build projects on the appropriate network according to their own needs.
Everything is ready, Web3 needs a logo brand
The prosperity of the ecosystem depends on the development of applications, but the development of applications is even more inseparable from the support of the ecosystem. BNB Chain protects the development of ecological applications with four support programs: hackathon activities, DAU and TVL incentive activities, MVP plans and builder fund subsidies. It also provides developers and founding teams with the basic supporting facilities of the BNB Chain multi-chain universe. Diverse choice space.
If the large-scale adoption of Web3 requires the leadership of an iconic brand, considering multiple factors, BNB Chains infrastructure and supporting solutions will be more helpful in undertaking traffic from Web2. A logo brand does not represent centralization. Our industry needs a logo that can be known to most people and can truly implement valuable projects.
Just as Binance co-founder He Yi posted on the X platform: Because I believe there is only one way to success in the cryptocurrency world - making this industry successful.
