Original | Odaily Planet Daily
Author | How is the husband
Since the last bull market, the crypto world has gradually moved towards a path dominated by traffic, especially as the number of applications on public chains has exploded, shifting the focus from projects relying on consensus to the primary demand for application scenarios. All of this is to make Web3 widely adopted.
Mass adoption requires the drainage of high-quality applications, but fundamentally, the basis for all of this is the public chain ecosystem. The prosperity of the public chain ecosystem not only requires a sound internal system that can meet the construction needs of different applications, but also requires support from the public chain for project teams.
For applications, the public chain is like a mother to a child. Applications born on the public chain should at least be raised to adulthood. A sound public chain foundation can help applications develop better, and only when applications are accepted by the market can they better contribute to the public chain.
Currently, most public chains will hold "hackathons" to incentivize project development by start-up teams, both to attract projects and to provide some financial and technical support. However, hackathons are held every year, and only a few projects from these events are truly well-known.
Does this kind of support from public chains have a too short cycle and not provide truly comprehensive help for start-up teams, such as token economic design, financing strategies, and user growth tactics?
But the MVB (Most Valuable Builder) accelerator program launched by BNBChain seems to fill this gap. The MVB program is jointly operated by BNBChain, Binance Labs, and the newly joined CMCLabs (CoinMarketCap's accelerator program for early-stage projects).
The seventh season of the MVB program is currently recruiting, and Odaily Planet Daily elaborates on the overview of this MVB program, the support of the BNBChain ecosystem, and the advantages compared to other public chains.
Broadening the track, injecting vitality into BNBChain with the new MVB program
The MVB program is an accelerator project lasting about 10 weeks. During this period, builders will receive support and guidance from BNBChain core contributors, the Binance Labs investment team, and the entire ecosystem. The goal of the MVB program is to help builders define and ultimately determine a business idea, and provide them with resources, tools, and customized courses to help them establish long-term product-market fit on BNBChain.
Since 2021, the MVB program has held 6 seasons. The first few seasons were held in cooperation with BNBChain and Binance Labs, but the current MVB program has introduced a new member, CMCLabs, which will work together to support Web3 builders and promote the development of the BNBChain ecosystem.
Broadening the track, learning from successful experiences
At the same time, the seventh season of the MVB program has brought new changes, expanding to two tracks.
The first track is the same as before, targeting early-stage enterprise projects, aimed at start-up companies developing new projects. The MVB program provides comprehensive guidance and advice to help them develop more quickly.
The second track is the newly added FounderTrack, targeting founders with innovative ideas. The MVB program collaborates with CMCLabs to launch FounderTrack, which serves as a venture studio dedicated to deep cooperation with founders and development teams to incubate entrepreneurial projects that can address real-world needs. These ideas will be deployed on BNBChain and receive support from Binance Labs. The new track aims to incubate 100 innovative ideas based on BNBChain.
The introduction of the FounderTrack is based on the past experience of successful investment and incubation of projects by Binance Labs, which often results in more influential projects when deep cooperation is carried out with founders and development teams in the early stages.
For example, Celestia, SafePal, and Polygon, where Celestia received seed round financing from Binance Labs for its founder's idea of "pluggable consensus layer and DA layer," which was successfully deployed on Cosmos and became a representative of modular public chains.
SafePal and Polygon are the representatives of the first two periods of the Binance Labs incubator program, and during the program, they also received many constructive suggestions for these two projects.
It can be seen that with past successful experiences, the introduction of new tracks in the MVB program aims to provide comprehensive support to projects in their early stages, while also injecting new vitality into the BNBChain ecosystem, promoting the prosperity of the BNBChain ecosystem.
Focus and considerations of the seventh season of the MVB program
It is worth noting that the current MVB program will specifically focus on the following areas, including SocialFi, full-chain games, intent-centric DApps, digital identity and reputation, AI-based DApps (such as AI-generated content, AI trading automation, and smart contract auditing), high-yield assets (such as LSD, re-collateralization, and RWA), security and privacy solutions, payment channels using BNBChain, ZK coprocessors, and content and data platforms built using BNBGreenfield.
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, BNBChain core contributors, and the entire ecosystem to turn innovative ideas into reality and contribute to the development of the BNBChain ecosystem.
Comprehensive support for the BNBChain ecosystem
The development of the public chain ecosystem does not rely solely on a single support program and will not have an immediate effect. It often requires a series of ecosystem support programs to ensure the full-cycle development of projects.
The MVB program is just one part of the roadmap for BNBChain builders' assistance. The complete roadmap will start from visibility, ecosystem support, experience guidance, and financial support, among other aspects, with different ecosystem support programs complementing each other.
For example, projects participating in hackathons have a certain priority for subsequent MVB programs and builder subsidies, forming a closed loop of ecosystem support and providing support and services for builders and developers throughout the entire lifecycle.
BNBChain Hackathon
Hackathons have always been popular new project competition activities in the crypto world, bringing together different functional groups in the industry to exchange experiences and resources.
However, hackathon activities require endorsement from core projects behind them, such as BNBChain, Ethereum, Solana, and other well-known public chain projects. The most important factor here is that endorsement determines traffic, and the significance of hackathon activities is not limited to the content on-site, but also in their reach.
In November, BNBChain held a 3-day hackathon event in Istanbul, with a total of 16 projects receiving rewards from the hackathon. ZypherGames won first place and received a reward of $15,000.
BNBChain DAU\TVL Incentive Program
If hackathons and the MVP program are for discovering high-quality projects, then the DAU and TVL incentive program of BNBChain is to provide incentive guarantees for projects after they go live. This allows new projects to smoothly navigate the initial development pressure before going live, enabling project teams to actively innovate with support and better attract new users to participate in the project.
The DAU incentive program serves projects that meet the conditions in the BNB Smart Chain (BSC), with a total prize pool of up to $200,000 in BNB. The DAU incentive program will calculate bonuses based on the gas consumed by eligible projects and rank them based on DAU (daily active users) during the project's activity period, with the top five sharing the total reward.
The application conditions for the DAU incentive program are as follows:
● Projects that have gone live in the 6 months prior to the application period;
● Maintain a minimum standard of 10 DAU for 7 days before the application deadline;
● The 20th of each month is the application deadline. Projects that were eligible in the previous month do not need to reapply. If they still meet the criteria, they will automatically receive support for up to three months.
Project teams should note that all three conditions are necessary.
The TVL incentive program serves projects that meet the criteria on BNB, with a total prize pool of up to $160,000 in BNB in the first phase. The TVL incentive program ranks projects based on the net increase in TVL for each project during the period, with the top three sharing the total reward.
The application conditions for the TVL incentive program are as follows:
● Projects already audited on BNB;
● Fill out the application form before the application deadline.
The TVL incentive program deadline is 07:59 on December 15th, Beijing time, and eligible project teams need to apply as soon as possible.
BNBChain Builder Fund Subsidy
In October 2022, BNBChain launched the Builder Fund Subsidy for free open-source projects that have an impact on the ecosystem and its community, providing dozens of subsidies every quarter.
Projects applying for the subsidy need to meet the following criteria:
● Open-source frameworks
● Free developer tools
● BNBChain-compatible module components
● Other developer tools and infrastructure
The Builder Fund Subsidy primarily supports free open-source tools in the BNBChain ecosystem, and the grant amount is determined based on the application quality and feasibility of the development plan, providing effective support for the long-term development of the BNBChain ecosystem.
BNBChain's Multi-Chain Support for Ecosystem Projects
The previously mentioned initiatives are proactive support programs for ecosystem projects by BNBChain, but its objective provision of underlying infrastructure for ecosystem projects should not be overlooked.
BNBChain is currently a multi-chain universe created by a single project, integrating L1, L2, and storage. This is different from Ethereum's multi-chain universe, where from the perspective of public chain development rights, Ethereum and L2 are not mutually restrictive. L2 is even gradually eroding Ethereum's traffic, weakening Ethereum's ecosystem.
In contrast, BNBChain, based on the user base of the BSC, relies on OPStack to build the second-layer network of BNB, and further develops BNBGreenfield as a storage layer to meet the application storage needs of L1 and L2.
These three elements provide a solid foundation for the rapid development of applications in the future BNBChain ecosystem and provide a good development environment for ecosystem developers.
Outstanding Support Range Leading the BNBChain Ecosystem
Incentive policies in different ecosystems have always been one of the necessary factors for project builders to choose an ecosystem, except for a few star teams or those that have achieved success. The majority of entrepreneurs need to consider the support policies of the ecosystem after meeting the basic project development environment.
Currently, the support range of the BNBChain ecosystem is ahead of other ecosystems. As mentioned above, the MVB program and the DAU/TVL incentive program make it more favorable for developers to adopt. The specific reasons are as follows:
● The two tracks of the MVB program will include the vast majority of early-stage enterprises, covering the entire process from a single innovative solution to the development of projects that have already been implemented.
● Most public chains, apart from hackathon activities, do not provide support for early-stage projects that have already gone live, mostly allowing them to face the market directly, which can easily lead to the premature end of projects due to funding gaps and traffic issues. In comparison, the DAU/TVL incentive program provided by BNBChain helps newly launched projects increase their margin of error.
● The underlying infrastructure is more robustly built, and BNBChain's multi-chain universe provides a greater choice of foundations for project developers and builders. Early-stage enterprises or builders can choose to build projects on the appropriate network based on their needs.
All Set, Web3 Needs a Flagship Brand
The prosperity of the ecosystem relies on the development of applications, but the development of applications also depends on ecosystem support. BNBChain's hackathon activities, DAU and TVL incentive programs, MVP program, and Builder Fund Subsidy provide strong support for the development of ecosystem applications, and with the foundation and supporting programs of the BNBChain multi-chain universe, they provide a diverse choice space for developers and founding teams.
If Web3's mass adoption needs a flagship brand to lead, considering multiple factors, the infrastructure and supporting programs of BNBChain are more conducive to attracting traffic from Web2. A flagship brand does not mean centralization; our industry needs a symbol that is widely known and can truly implement valuable projects.
Just as Binance co-founder He Yi stated in a post on X platform: "Because I believe that there is only one path to success in the cryptocurrency world—making this industry successful."
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