Grab Your Piece of the Pie: Sector Finance Token is Set For Launch
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Why I Build on the BNB Chain
January 30, 2023
MINS
BSC News
Learn about the great support BNB Chain has given Mr. Lightspeed and why that has been crucial to building on the world's most active chain.
Introduction
This article aims to help new project founders and developers find their way on the BNB Chain as well as help those more experienced learn a new thing or two. As a project CEO, I have experienced many difficulties over the course of 2022 with many lessons learned along the way in leading a project: the good, the bad, and the ugly. However, engagement with the BNB Chain team, resources, and opportunities provided to the community are among the top reasons why I stay and build on the BNB Chain.
Community Engagement
Community Engagement is Mission #1 in the world of crypto and it is no different for those supporting BNB Chain. My first time engaging with the BNB Chain team was at Consensus in June of 2022 located in Austin, Texas. If you have ever never gone to a large conference, add this one to your bucket list!
This event was the point in my journey as a project CEO where I learned there is a divide between Binance as an exchange and building on BNB Chain as the blockchain. While I engaged the Binance exchange team to help answer questions related to my application as an institutional investor, my eyes were opened to the vast possibilities of building on this blockchain. Why? There was a large presence of BNB Chain Martians and Community Managers available to answer questions and get me pointed in the right direction as I looked to scale up my own project.
The first thing I learned at the conference is that there are some key resources, grants, incentives, and support systems available to builders. Some are free and some that you must compete to earn. There were thousands of conference attendees to share in this newfound knowledge and I had the chance to meet other founders to share lessons learned.
BNB Chain Developer Program
The BNB Chain Developer Program is very robust and aimed to drive innovation and adoption of Web3. Many of the opportunities are even chain agnostic. Some programs include a growth incentive program, a builder grant program, a BNB Chain Kickstart program, advisory support programs, a game Jam (brand new!), and trailblazer programs for the best of the best.
Growth Incentives
There are several growth incentives programs, but two I wish to highlight are the Gas Fee Incentive Program and the Innovation Pitch Days.
Gas Fee Incentive Program
The BNB Chain Developer Program awards growth incentives to builders and Web3 projects who contribute to the BNB Chain ecosystem. The first opportunity I discovered was the BNB Chain Growth Incentive and is where I started my journey as a founder. Over $10M has been set aside for this program to help projects with user acquisition and growth. There is a simple application form that is filled. You can find the form here. There is a four-step process involved and if you are committed to growing your project and reporting progress then this is a great way to get started. Those steps are:
- Step 1 Application: This marks the initial application phase where projects and teams apply to initiate the evaluation process.
- Step 2 Evaluation: Relevant applications undergo a thorough evaluation. Upon completion of the application, an assessment process takes place where the BNB Chain team does their due diligence in evaluating the entire project.
- Step 3 Decision: Applicants that have fulfilled the evaluation criteria will be notified, and the BNB Chain team will collaborate with you diligently to ensure you put in place effective and useful growth targets.
Another opportunity to foster growth is Innovation Incubators that are done throughout the world. Most recently, BNB Chain led the European Innovation Incubator.
Innovation Pitch Days
This was a big opportunity and BNB Chain chose my project, Puli Token, to attend along with about seventy other amazing projects in what I can only best describe as speed dating rounds! Each team had 5 minutes to present in front of a judging panel as well as a large audience of Venture Capitalists (VCs) and interested investors. The judging panel awarded some small prizes at the end to the top teams, but every team got amazing exposure and tremendous feedback plus an opportunity to gain experience and grow. I also had an opportunity to receive additional mentorship for a couple of weeks after the event via 1 to 1 video calls with BNB Chain leaders. Keep your eyes out for the next Innovation Pitch Day in your area.
Besides the growth incentives mentioned above, and there are more you can discover, there are also BNB Chain Grant Programs available.
BNB Chain Builder Grant Program
The BNB Chain Builder Grant Program provides both financial and non-financial support to aspiring projects. You can expect that the length of the applications and the scrutiny from the reviewers is proportional to the level of support being provided! For example, the Innovation Pitch Day was simple to submit (having had all the pre-requisite materials on hand) while the tailor-made value grant applications were deeply involved and required a full range of managerial and technical experience to pull off.
BNB Chain Grants
Grants are incredibly competitive, and you have to be very prepared. There are two types of grants: General Grants and Category Grants that change monthly. These grants come either as Financial Support in two tiers (Tier 1 are bespoke value grants and Tier 2 are up to $50,000 USD) or as non-financial support such as amplification and visibility, connections to other projects and community members, and dedicated advisory support. Advisory support is also available separately. You can apply for the grants here.
Advisory Support Programs
I advise projects to take advantage of the Advisory Support Programs early in their process and before launching. BNB Chain provides dedicated advisory support programs that enable selected projects to further innovation and adoption of the Web3 space. You can get a 360-degree review over your technical needs and infrastructure that you will need for your project’s growth. There are also Tokenomics advisors that can review your overall project to ensure you can grow sustainably. You can apply to get some advice here.
BNB Chain Kickstart Program
This is a new program that was instituted that I wish I had when I was getting started. From the program description:
“The BNB Chain Kickstart Program provides essential tools and services provided by BNB Chain ecosystem partners, aimed to help projects kick start their building journey."
Projects that are selected can get deep discounts and complimentary services from security auditors, cloud services, social graph protocols, naming services, infrastructure, wallet sdk, oracles, fiat on-ramp services, launchpads and much more! You can apply for these resources here.
Trailblazer Programs
There are two trailblazer programs available for top-notch teams ready to take on the toughest challenges: Innovation Incubators and the highly coveted Most Valuable Builder Program
BNB Chain Innovation Incubator
A huge opportunity available for aspiring project leaders and development teams are the innovation incubators held around the world.
From the BNB Chain website, “These are three-week virtual programs designed for innovative Web3 startups across Europe to build and scale dApps, driving toward a decentralized future.”
There is a virtual component as well as a meet-up where projects can present their projects for an opportunity to stand out and be awarded prizes and an opportunity for further exposure and support. Winners get a chance to win up to $50,000 in prizes, complimentary auditing, and token economics consultation. A strong referral to the Most Valuable Builder program is also possible (more on that later).
Personally, my team was not picked up for the European Innovator, but I got great feedback to further home in my project, achieve additional progress on our products, as well as user growth. I will be trying again soon, but the feedback led to being picked up at the innovation pitch day I mentioned earlier. You can go here to find when the next program starts. Another opportunity that teams can compete for is the BNB Chain Most Valuable Builder (MVB) Accelerator Program.
BNB Chain MVB Accelerator Program
The MVB program is the most prestigious of all the offerings I have shared in the list. It is not easy to get into and you have to get used to hearing the word, ‘No.’ But that should not discourage you from trying! You will have an opportunity to gain experience and try again.
The MVB Accelerator Program is a BNB-focused accelerator program between the BNB Chain and Binance Labs to help projects develop and grow more organically through coaching, investment, and network support. This program provides an extensive and informative weekly curriculum for supporting top project teams to deliver a working product that reaches Product-market fit.
There is a curriculum that includes the following topics:
- Product Design
- Marketing and Business Development
- Data Tooling and Analytics
- Security and Audit
- Scaling Infrastructure
- Tokenomics
- Fundraising
If your team can commit full-time to the rigorous program, apply here. Any project at any stage and valuation can compete for a spot in the program. This program encourages all types of innovation and progress within the BNB Chain ecosystem from infrastructure, middleware, DeFi, GameFi, SocialFi, Metaverse and more.
Conclusion
I describe in this article why I build on the BNB Chain: Amazing support! I have had chances to apply for some of these opportunities and there are others I look forward to participating when the time is right. I encourage all developers and project teams to review this list and explore what fits for you. 2023 is barely getting started! Be on the lookout for future events led by the BNB Chain team. I hope one is close to you soon so you can meet the team.
Mr. Lightspeed, aka Christopher “CJ” Johnson, PhD., is the President of Lightspeed Games, LLC., and the CEO of Puli Token. He is a Binance Affiliate and a BNB Chain Martian where he dedicates his time informing and educating BNB Chain developers and investors of BNB Chain resources and opportunities.
*This is a guest post.*
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
Blockchain News
Grab Your Piece of the Pie: Sector Finance Token is Set For Launch
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March 20, 2023
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Sector Finance is launching its token, $SECT, on Camelot DEX. There'll be 100M tokens available with 10% for public sale with a minimum commitment of $1.5M USDC and a maximum of $4M.
$SECT to Publicly Launch on March 31
The public token launch for Sector Finance token, $SECT, is set to begin at 17:00 UTC on March 29, 2023, and end at 17:00 UTC on March 31, 2023, on Arbitrum's native Camelot DEX.
The maximum supply will be 100 million $SECT, and 10% of that will be made available to the public. There is a minimum total commitment of $1.5 million USDC and a maximum commitment of $4 million USDC for the public launch of the token.
However, Sector Finance would retain the tokens allocated for the launch if the total committed $USDC is less than 1.5M. In that case, deposited funds will be returned to all participants.
Participants who deposit early and own Camelot's native token, xGRAIL, will be able to join the whitelist launch 24 hours before the public offer begins. As reported, all participants will receive the same fair launch value ("FLV") set at the end of the launch period. For all, the final price would be set as follows:
- Max = 4M $USDC Commitment / 10M $SECT
- Min = 1.5M $USDC Commitment / 10M $SECT
Additionally, holders of $SECT can stake, lock, and receive vote-escrowed $SECT ("$veSECT"), which provides governance rights over protocol fees and emissions. There is a vesting period for one-third of the tokens where they would be staked in veTokens for three months.
Sector Finance will publish specific instructions on participating in the public launch ahead of the launch event.
Incentivized Vault Offering
Sector Finance will increase the Incentive Pool for the Incentivized Vault Offering ("IVO") from 1.0% to 2.0% in celebration of its public launch.
According to the protocol, early depositors will earn $veSECT and $bSECT from the Incentive Pool in addition to the real yield accrued in USDC/ETH. Early depositors will benefit both from short-term upsides and long-term value accruals.
Participants can earn $bSECT and $veSECT from the Incentive Pool at the end of the Incentive Period when they deposit into either the Aggregator Yield Vaults or Single-Strategy Vaults.
You can learn more about the incentive vault offering here.
What is Sector Finance?
Sector Finance is a product protocol designed to scale the DeFi ecosystem sustainably through diverse yields and unparalleled risk transparency. The protocol is developing risk management tools and investment products to assist the next generation of DeFi users. Sector will run on Arbitrum, and the strategies will work with a variety of ecosystems, including Ethereum Mainnet, Moonriver, and Optimism.
Where to find Sector Finance:
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Blockchain News
DeFi Dominance: A Quick Guide to Ethereum Protocol Forks
March 20, 2023
The top DeFi protocols on Ethereum have captured billions of TVL and generated offspring that have captured billions more.
Uniswap, Compound, Olympus DAO, Aave
“Imitation is the sincerest form of flattery that mediocrity can pay to greatness.” – Oscar Wilde
Snarkiness aside, any good developer understands it’s far less efficient to build from scratch, than to identify existing good code and to adapt it to their purposes. The world of crypto is filled with Decentralized Finance (DeFi) protocols that are based on forks of predecessors.
Unsurprisingly, Ethereum protocols are the most popular models for other platforms to follow. In many cases, the Total Value Locked (TVL) of the offspring exceeds the parents!
Let’s check out the top 4 Ethereum protocols, in terms of the adoption of their forks, and then also look at one wild-card protocol: Uniswap, Compound, Olympus DAO, AAVE and Solidly.
(All data sourced from DefiLlama.)
1. Uniswap
Name: Uniswap
Category: DEX
TVL: $3.78 billion
Most Popular Forks: PancakeSwap (BNB etc.), SushiSwap (ETH etc.), BiSwap (BNB), VVS Finance (Cronos), Quickswap DEX (Polygon), Camelot (Arbitrum), SpookySwap (Fantom)
Total TVL of Forks: $6.92 billion
2. Compound Finance
Name: Compound Finance
Category: Lending
TVL: $2.67 billion
Most Popular Forks: Venus (BNB), Tectonic (Cronos), Benqui Lending (Avalanche), Sonne Finance (Optimism), Mare Finance (Kava)
Total TVL of Forks: $4.56 billion
3. Olympus DAO
Name: Olympus DAO
Category: Reserve Currency
TVL: $253 million
Most Popular Forks: Wonderland (Avalanche, ETH), Klima DAO (Polygon)
Total TVL of Forks: $1.51 billion
4. AAVE
Name: AAVE
Category: Lending
TVL: $8.53 billion
Most Popular Forks: UwU Lend (ETH), Geist Finance (Fantom), Radiant (Arbitrum)
Total TVL of Forks: $830 million
The only DeFi protocol in the top 5 that was not originally on Ethereum is Solidly, which was launched by famed DeFi developer Andre Cronje on Fantom. Solidly’s TVL on Fantom experienced a meteoric rise and equally meteoric fall, but the protocol has spun off several massively popular protocols on other blockchains.
Solidly
Name: Solidly
Category: DEX
TVL: $1.5 million
Most Popular Forks: Velodrome (Optimism), Solidly V2 (ETH), Thena (BNB), Ramses Exchange (Arbitrum), Equalizer Exchange (Fantom), Solid Lizard (Arbitrum), Equilibre (Kava)
Total TVL of Forks: $863 million
What is Ethereum:
Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).
Find more about Ethereum here:
Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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PROMO
CoinBook P2P DEX to Hold IDO for $BOOK on Core Chain
March 20, 2023
The most anticipated IDO event on Core DAO, CoinBook’s $BOOK token IDO is set to take place.
The world’s first decentralized peer-to-peer orderbook exchange, CoinBook, is holding an Initial DEX Offering (IDO) for $BOOK token.
What is CoinBook?
CoinBook is the world’s first decentralized P2P protocol on the Core chain allowing traders to exchange tokens peer-to-peer without the need for a Centralized or Swap Exchange.
This innovative DEX is igniting the P2P movement of crypto with its unique smart contract technology that circumvents the need for a Centralized or Swap Exchange with many advantages such as:
- Guaranteed Privacy (No KYC)
- Lower fees compared to CEX
- No slippage
- No market price impact
- No front-running bots
- You can keep full custodian
What is $BOOK?
$BOOK is the native platform token of CoinBook which will begin its IDO sale on March 22, 2023 at 12 PM UTC.
There are three major utilities of $BOOK:
Stake $BOOK, Build Your Portfolio
100% of the DEX transaction fees collected from trades will be donated to the holders who stake $BOOK in the Library Staking Pools. Users will be able to choose which Library pools to stake in to earn free tokens such as $BOW, $LFG, $AICORE, and much more!
Monthly Platform Rewards
CoinBook will reward its users monthly in $BOOK. The trading volume a user generates each month will determine how many $BOOK rewards they will earn.
Marketplace Governance
To further decentralize the CoinBook platform, the holders of $BOOK will participate in governance voting on important platform decisions. The more $BOOK you hold, the more voting power you have on proposals.
$BOOK IDO Details
Private Sale (Whitelisted Wallets) will first participate in the sale on March 22, 2023, from 12:00 UTC until 14:00 UTC. All Season 1 airdrop participants with completed tasks are whitelisted.
Public Sale (All Wallets) will start participating on March 22 2023, from 14:00 UTC until 14:00 UTC the next day (March 23, 2023).
The $BOOK IDO will take place on CoinBook’s platform. You can find out more details about CoinBook and $BOOK token on the CoinBook Doc.
Join CoinBook’s movement today and stay updated with the latest info!
Twitter | Telegram Community | Medium | Youtube
Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Blockchain News
Synthetix Smashes Records: Reaches $490 Million in Daily Trading Volume
March 20, 2023
Synthetix, the derivatives liquidity protocol, achieved a record-breaking $490 million daily trading volume on March 17. The protocol also generated over $511,000 in fees on the same day.
Synthetix Made Record Trading Volume
Derivatives Liquidity Protocol, Synthetix hit $490 million in daily trading volume for the first time on March 17, according to Dune analytics.
In terms of trading, the majority took place on the Kwenta trading platform, which accounted for $479.8 million in trading volume. In addition, the Synthetix generated more than $511,000 in fees on March 17.
Worth noting that Synthetix will distribute over $8M of Optimism's governance tokens to its perpetual swaps users as rewards.
The reward system will reward traders based on the fees paid, the volume generated, and the amount staked in SNX, Synthetix's governance token. As reported, users who stake 2,500 or more SNX can further boost their rewards with a maximum bonus of 15%.
The program will begin in the first week of April and run for 20 weeks.
In the first week, 50,000 OP tokens will be distributed, followed by 100,000 OP in weeks two and three. The remaining weeks of the program will see 200,000 OP per week.
The rewards will be issued from Synthetix's treasury, which received 9 million OP from the Optimism Foundation in July 2022.
Synthetix has also deployed version 3 (v3) on the Ethereum mainnet following security audits on February 23.
According to its developers, Synthetix v3 offers developers better architecture for developing faster, more complex, and more efficient decentralized financial applications (DeFi). Additionally, V3 will provide simplified staking and differentiated debt pools, meaning network stakers can contribute collateral to specific asset pools and receive fees without being exposed to every Spartan Council-supported asset.
Synthetix currently has a Total Volume Locked (TVL) of $457.14 million, which includes $303.82 million in Ethereum and $153.32 million in Optimism. Synthetix is trading at $2.88, up 0.08 in 24 hours.
What is Synthetix:
Synthetix is a decentralised liquidity layer built on Ethereum and Optimism that acts as a backend for DeFi protocols. Stakers provide liquidity to collateralize a portfolio of synthetic assets in exchange for rewards and market yields. This liquidity is used to underwrite synthetic assets and perpetual futures trading at oracle prices, removing the need for traditional order books and counterparties. As a result, liquidity is commutable and fungible across markets, and traditional slippage is eliminated.
Learn more about Synthetix:
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BSC News
Web3Go Daily Data: BNB Chain Overview of March 20
March 20, 2023
The daily Web3Go Data report specializing in blockchain data on BNB Chain. Here is the report for March 24, 2023.
Web3Go Daily Data: BNB Chain
What is Web3Go:
Web3Go is an open data platform that focuses on the formatting, visualization, sharing, and collaborative analysis of the on-chain data generated in the Polkadot and BNB Chain ecosystems.
Where to find Web3Go:
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