BNB Chain Improves Stablecoin Retention with TVL Incentive Program and DeFi Integration

(PRESS RELEASE – Dubai, United Arab Emirates, September 27, 2024)

As part of its mission to onboard the next billion users and bridge the gap between Web2 and Web3, BNB Chain is expanding its focus on stablecoins through a series of retention-focused initiatives, including the Total Value Locked (TVL) incentive, deeper integration. of stablecoins in its DeFi ecosystem and a recently launched gas-free campaign.

Gasless Campaign: Zero Fees for Stablecoin Transfers

BNB Chain’s Gasless Carnival Season eliminates gas fees for transferring or withdrawing stablecoins (USDT, FDUSD, USDC) on BNB Smart Chain (BSC) and opBNB. This campaign, live from September 19, 2024, is available on platforms like Binance, Bitget, Gate.io, MEXC and wallets like Bitget Wallet and SafePal. It also covers transfers through Celer cBridge, making stablecoin transactions faster and more profitable.

TVL Incentive Program

The TVL incentive program, offering a total prize pool of up to $300,000, encourages DeFi projects to expand their TVL on the BNB chain by rewarding stablecoin and BNB staking growth. Open to all DeFi projects on opBNB and BSC, the program offers two challenges: the BNB Staking Challenge with a prize pool of $100,000 and the TVL Challenge with a prize pool of $200,000. Participants are ranked based on incremental TVL growth, with special weighting for stablecoins (FDUSD, USDT, USDC) and BNB. The program runs from September 12 to October 11, 2024.

DeFi Integration: High APY Opportunities

BNB Chain further enhances the utility of stablecoins by integrating them into leading DeFi platforms such as Venus and PancakeSwap, allowing users to stake and provide liquidity with competitive APYs. This initiative allows stablecoin holders to earn returns while contributing to the liquidity and stability of BNB Chain’s DeFi ecosystem.

Stablecoin adoption and real-world utility

To make stablecoins more practical for everyday use, BNB Chain is collaborating with payment gateways to facilitate real-world transactions using stablecoins. This integration connects digital and traditional financial systems, making stablecoins a key driver of BNB Chain’s mass adoption strategy.

Through these initiatives, BNB Chain reinforces its commitment to making cryptocurrency as accessible and convenient as traditional currency, thereby driving the adoption of decentralized finance and stablecoins.

For more information, users can visit here.

About the BNB channel

BNB Chain is a community-driven blockchain ecosystem that removes barriers to Web3 adoption. It is composed of:

• BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-enabled L1; serves as the ecosystem governance chain.
• opBNB: L2 scalability that delivers some of the lowest gas fees of any L2 and fast processing speeds.
• BNB Greenfield: Meets the decentralized storage needs of the ecosystem and allows users to create their own data marketplaces.

Setting the bar high for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its builder support program.

To learn more, users can follow BNB Chain on X or start exploring via their Dapp library.