The MVB (Most Valuable Builder) accelerator program was created to bolster the crypto community and support builders’ innovation on the BSC (Binance Smart Chain). Lets take a look into the final phase of this program.
Introduction
In a bid to create support for new projects and existing projects on the BSC, Binance created a program known as the MVB accelerator. The program aims at helping BSC-based startups create innovations, gain exposure in the industry, generate funds for development, and speed up the growth of their communities.
The program was divided into three phases; projects deemed eligible to enter the second phase received funding up to $10,000. Projects that reach the third face could get up to $100,000 grant, while top selected projects could get liquidity incentives worth $2 million. However, two phases have been completed, and the final stage is set to commence in April. In this article, we will discuss the final stage of the MVB Accelerator program.
MVB Accelerator Program Briefing
The MVB accelerator program was launched under the $100 million DeFi (Decentralized Finance) accelerator fund meant to unite both worlds of centralized finance and decentralized finance. Following the announcement of its program launch on the 5th of February 2021, many new projects started coming into the BSC network. According to reports, Binance received over 650 applications for the MVB fund. The fund is an excellent incentive from Binance to assist upcoming projects in their development.
The program was made eligible for all developers building on the BSC network while also accepting those looking to integrate BSC into their projects. Applicants from the BUIDL reward program, Quadratic Grant Fund, and existing hackathons hosted by BSC were also invited.
MVB Accelerator Program Schedule
Completed Phases:
Phase 1: This phase was completed in the space of six days from the 1st of March to the 5th of March, 2021. Here, all eligible applications were processed, and 20 projects were shortlisted. After this was done, all of the shortlisted projects were reviewed with their financing, business structure, and business model taken into serious consideration.
Phase 2: Unlike the first phase, this phase operated for eleven days from the 8th of March to the 19th of March 2021. All 20 shortlisted projects still went through the review process. To move to the next phase, the shortlisted projects must be among the most demanded applications in dApps (Decentralized Applications), DeFi, or products in the BSC market space with a growing list of communities, including Twitter, Telegram, Medium, etc. However, the communities are not limited to these listed.
Upcoming Phase:
Phase 3: The third and final phase of the MVB accelerator program is scheduled to run from the 12th of April to the 23rd of April 2021. In this phase, Binance will continue the review process. Here, the top 5 projects eligible for the MVB accelerator program will be selected based on TVL (Total Volume Locked), liquidity, daily active users, and community.
What more, each of the top 5 selected projects stands a chance to gain some of the following benefits:
Liquidity support of up to $2million.
Seed funding worth $100,000 in BNB.
Participate in a community vote to gain a listing on Binance Innovation Zone.
With April 12 just around the corner, it’s a matter of time before we get to see the top 5 projects which will gain massively from Binance’s innovative funding program. Already, eight projects have qualified as MVB builders. They include AutoFarm, PancakeBunny, Bscex, Kebab Finance, Sphinx, Beefy, bDollar, and NFTBox. It is expected that each of these eight projects will receive $10,000, incubation workshops conducted by experts, and a Quickscan security check from Certik.
Conclusion
The need for the development of BSC projects cannot be stressed any further. With the growing list of BSC projects in the DeFi market space, it is an essential incentive from Binance. Now that we have the final phase upon us, we can only keep our fingers crossed as we await the conclusion of Binance’s MVB accelerator program.
Source : bsc.news
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