BNB Chain Launches $100 Million Liquidity Incentive Program to Support Native Token Listings

03/25/2025

BNB Chain Announces Launch of Third Round of “Permanent Liquidity Program”

BNB Chain has announced the launch of its third round of the “Permanent Liquidity Program,” investing $100 million in native token rewards for listings on centralized exchanges, attempting to enhance ecosystem liquidity and value. However, the announcement has ignited community controversy, sparking intense discussions about its fairness and sustainability.

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BNB Chain’s $100 Million Reward Program: Highlights and Participation Criteria

BNB Chain stated in its announcement that this round of the liquidity program will be piloted for three months, with a total of $100 million, covering native tokens across various sectors including meme coins, AI, DeFi, and gaming. Depending on the listing exchange level, projects can receive the following rewards:

Category One: Binance, Coinbase, Upbit, up to $500,000

Category Two: Kraken, Bybit, OKX, up to $250,000

Category Three: Bitget, MEXC, Gate.io, KuCoin, Crypto.com, up to $50,000

As for the participation criteria, projects must meet the following conditions:

Must be a completely new project native to BNB Chain
Market capitalization must exceed $5 million
Number of holder wallets must be at least 10,000
Average daily on-chain trading volume must reach $1 million
Top ten external holding wallets must not hold more than 10% of the total supply

Furthermore, BNB Chain emphasized that all projects will undergo a comprehensive assessment to ensure fair competition, and anti-fraud mechanisms are in place. If a project is found to be involved in fraudulent activities, it will be disqualified. The community is also encouraged to report fraudulent activities, with the first valid whistleblower receiving a reward of $10,000 in BNB.

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Community Questions: Ambiguous Standards Could Encourage Speculation

Upon the announcement, some voices of doubt emerged, arguing that the criteria and standards are ambiguous and may foster market speculation, potentially harming long-term value development. Crypto KOL @CryptoDevinL pointed out that while the $100 million liquidity program appears enticing, it might attract more short-term speculators rather than true long-term builders, which may not bode well for BNB Chain’s sustainable development:

The program overlooks projects that have genuinely built a small community through hard work, distributing rewards to new projects while resources are limited, inadvertently encouraging a PVP model that guides players to “sell old and buy new.”

Officially Modifies Rules: Eases Conditions and Clarifies Misunderstandings

In response to the criticism, BNB Chain promptly made adjustments to the rules as follows:

Removed issuance time limit: Any 100% native BNB Chain token can participate regardless of issuance time.
Pre-announcement listed projects are not eligible: The program only targets projects listed after the announcement; older projects already on exchanges cannot receive rewards.

Additionally, BNB Chain clarified specific user scenarios, such as only listing a contract without listing a spot still does not count as being listed, and additional listings on CEX after the announcement can be included in the reward scope, while promising further updates to clarify any ambiguous rule descriptions.

A Double-Edged Sword Under Ecological Strategy: BNB Chain’s Ambitions and Challenges Coexist

As Binance’s on-chain entity, BNB Chain has recently shown continued leading performance, with DEX trading volume reaching $14.336 billion. Following the enhancement of smart contract wallet functions, market expectations are robust, and BNB prices are steadily rising.

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Despite accompanying challenges related to fairness, transparency, and speculation risks, this plan can still be viewed as a key step in further expanding its market footprint. BNB Chain’s $100 million incentive program injects new vitality into the ecosystem and is expected to attract significant project attention and participation. However, from rule disputes to fairness debates, whether the program can become an engine of innovation or merely a tool for speculation remains to be seen. For investors, it represents both opportunities and risks, testing their vision and judgment.

Risk Warning

Cryptocurrency investments carry a high level of risk, and their prices may fluctuate wildly, potentially resulting in a total loss of principal. Please assess risks carefully.