When we first announced the $1 billion Growth Fund for Binance Smart Chain sponsored by Binance.com, one of the four categories was a $100 million Liquidity Incentive program. This liquidity program is designed to help projects building on BSC achieve sustainable liquidity and user growth to ensure a seamless user experience with enough liquidity to sustain future growth.
Today, we’re announcing the first two recipients of the program, who will receive various sums to support liquidity on their platforms.
The first $100M Liquidity Incentive recipients
Since we announced the $100M Liquidity Incentive for BSC, we received dozens of applications from projects interested in boosting their liquidity. From these projects, we picked the first two projects who met all the criteria and became eligible for funding.
The first two projects to benefit from this liquidity boost are Deri Protocol and MCDEX.
Deri Protocol = (Perpetual Futures + Everlasting Options) x Decentralized.
Deri is the DeFi way to trade derivatives: to hedge, to speculate, to arbitrage, all on-chain. With Deri Protocol, trades are executed under the AMM paradigm, and positions are tokenized as NFTs, highly composable with other DeFi projects.
Learn more about this project from the BSC Project Spotlight: Deri Protocol interview.
MCDEX is the first fully permissionless decentralized exchange for trading perpetual contracts with top market liquidity and up to 15x leverage.
MCDEX provides more liquidity aggregated around the index to achieve much higher capital efficiency and comes with high market diversification allowing anyone to create permissionless contracts, making MCDEX limitless in terms of assets offered.
What should be mentioned is that both projects are winners of the #MVBIII Monthly Stars with Deri Protocol placing as one of the August Monthly Stars, and MCDEX placing among the Monthly Stars for September.
Want to learn more about the $100 million Liquidity Incentive and discover how to apply? Read this article.