Binance Smart Chain Launches Mentor Committee to Support New Projects
- The committee will provide mentorship and support to projects shortlisted under BSC’s Most Valuable Builder Incubation Program.
- As part of the mentorship program, projects will also be eligible to receive up to $1 million in seed funding from BSC’s Accelerator Fund.
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In a press release published on 20 September, Binance Smart Chain (BSC) announced it has launched a mentoring committee to provide guidance to aspiring blockchain projects. The committee will consist of representatives from leading venture capital firms, asset management companies, and blockchain organizations such as Binance Labs, NGC, Hashkey, Multicoin Capital, Chainlink Labs, and others.
The representatives will provide guidance and support to projects building on BSC admitted to the Most Valuable Builder’s (MVB) incubation program, which currently includes around 60 projects. The program will be split into multiple segments designed to help projects access industrial expertise, one-on-one mentoring, community support, and fundraising.
Projects will be matched with mentors on the basis of specific problems and challenges they encounter. Shortlisted projects will have the opportunity to join the BSC community and spread awareness about their products.
“Nascent projects deserve support in terms of funding and mentoring to grow and scale. With development-focused and technology-driven initiatives, the BSC ecosystem is now an ocean of opportunities for developers and entrepreneurs to leverage. By providing acceleration, bug bounties, and incubation opportunities, we’re setting a runway for BSC projects to take off,” said Gwendolyn Regina, the Director of the BSC Accelerator Fund.
Binance will also connect venture capitalists and investment firms with projects and provide seed fundings up to $1 million under its $100 million Accelerator Fund.
- The BNB Chain will be made up of two parts, the BNB Beacon Chain and BNB Smart Chain, and will have the goal of pushing the BNB ecosystem even further.
- Binance also introduced a new concept, MetaFi, that is meant to become an “all-encompassing ecosystem” that enables interoperability between projects and blockchains.
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- The attacker used a deposit option in the QBridge smart contract to create a “huge amount of xETH collateral”, which he used to borrow BNB on the Binance Smart Chain.
- The Qubit team has contacted the attacker, and offered him the maximum reward it could give if he returns the stolen funds.
- Binance’s investments comes only two months after WOO Network closed a $30 million Series A funding round.
- WOO Network not only provides liquidity to the Binance Smart Chain, but also to the 1inch, ParaSwap, Dodo, and DYDX networks.