The world’s largest cryptocurrency exchange, Binance, is set to launch the second round of its Most Valuable Builder Accelerator Program for Binance Smart Chain.
In ongoing efforts to lure new projects to its own blockchain, Binance is dishing out grants and incentives in its accelerator program.
In a blog post on April 23, the company announced the next round of the MVB program while detailing some of the winning projects from the first round.
— Binance Smart Chain ✨ (@NFTBINANCE) April 25, 2021
AutoFarm, Beefy Finance, and PancakeBunny Winners
The first round of the MVB accelerator program was launched in February 2021 to boost BSC ecosystem development by providing support, funding, and exposure to projects. It concluded on April 23 and had over 650 applications attributing to the growth of BSC.
“The first round of the MVB program resulted in significant growth of the BSC Ecosystem, which now hosts more than 450 active projects, daily active address (Peak time) is > 1m and Daily Transaction volume (Peak time) is > 9m (6x of ETH).”
Through three phases, three final projects were shortlisted for listing on Binance and BSC – AutoFarm, PancakeBunny, and Beefy Finance.
On April 13, yield farming aggregator Mound announced that Binance had poured $1.6 million as a strategic investment into its PancakeBunny protocol. PancakeBunny is a yield optimization protocol that uses the PancakeSwap DEX to create vaults for additional earnings on CAKE and BUNNY tokens.
The AutoFarm protocol was launched in December 2020 to combine and simplify yield farming opportunities for users of projects on BSC. It has two product offerings, a yield optimizer or vault services, and a DEX protocol with cross-chain capabilities to Huobi ECO Chain (Heco) and BSC.
Beefy Finance is yet another yield aggregator that optimizes and automates yields through a vault system. The protocol leverages the low transaction fees on BSC to automatically help users farm, harvest, reinvest, and compound their tokens or liquidity provider tokens.
The second round of the MVB, dubbed “The Big Bang of NFTs,” will begin on May 1 and run until July 22.
Binance Lists More Synthetic Stock Tokens
In an announcement on April 26, Binance stated that it was listing three more stock tokens in addition to those already available – Coinbase (COIN) and Tesla (TSLA).
The new listings will be MicroStrategy (MSTR), Microsoft (MSFT), and Apple (AAPL), going live on the 26th, 28th, and 30th of April.
Stock tokens are collateralized and cash-settled in BUSD, meaning there will be no physical redemption of underlying shares. They are fully regulated and backed by a depository portfolio of underlying securities held by CM-Equity AG, Germany, the announcement added.
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