BSC invests $1 billion in decentralized finance projects (DeFi)
The universe of decentralized finance (DeFi) is dominated by Binance Smart Chain (BSC). Through it, the token of Light DeFi (LIGHT) was created, and now an investment of US$ 1 billion intends to accelerate projects that are part of BSC.
According to Changpeng Zhao, CEO of Binance, the goal is to transform BSC into the first ecosystem built on blockchain technology with a billion users.
With this feat achieved, Binance Smart Chain will take the lead in the DeFi market, attracting new projects such as Light DeFi. Divided into four parts, initially, US$ 100 million will be allocated to the development of new talent at BSC.
In this phase, users will rely on mentoring and help to maintain the project through research involving cryptoactives and blockchain technology. In addition to that part, $100 million is used to support projects that provide liquidity to Binance’s decentralized network.
The funding program also foresees the use of US$ 300 million with events involving developers and experts from the crypto universe. In addition to hackathons, at this stage, Binance Smart Chain intends to finance incubation programs for projects on the network.
The other half of the amount invested, corresponding to US$ 500 million, will be destined for the development of other projects in the network that involve DeFi, such as games, artificial intelligence, and tools dedicated to decentralized financial services.
Like Light DeFi (LIGHT), the projects contemplated by Binance Smart Chain’s $1 billion investment need to be part of Binance’s decentralized network. Considered a rival to the Ethereum network, BSC attracts the leading projects in the decentralized finance market with investments and support.