Six Binance Smart Chain DeFi projects awarded grants from $100M fund
More than 180 projects have applied for grants since the $100 million accelerator fund was announced in September. Global cryptocurrency exchange Binance announced funding for six projects building on the firm’s smart chain.
In an Oct. 14 statement, Binance stated that blockchain projects AnySwap, Arkane Network, BakerySwap, Bitquery, PancakeSwap and Proxima will receive $350,000 in grants through the firm’s $100 million fund. More than 180 projects have applied for grants since the fund was announced in September. The firm chose the six projects using criteria examining teams, products and contribution to the blockchain ecosystem.
Binance CEO Changpeng Zhao said the Accelerator Fund was designed to support the development of high-quality DeFi projects that contribute to building the industry’s infrastructure.
One of the successful projects is PancakeSwap, an Automated Market Maker — the name for a decentralized exchange that relies on mathematical formulas to set the price of a token. Binance noted it was the “number one liquidity provider” on its smart chain based on volume, number of active users and contribution to gas fees.
In September, Binance launched the mainnet of its Smart Chain, a smart contract-enabled blockchain running in parallel to Binance Chain. Existing DeFi protocols, including Aave, 1inch and dForce, have stated their intention to develop on the chain.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 86% | 25 | $57 475.88 | -0.31% | -0.39% | $1 135 311 490 122 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 75.6% | 41 | $2 339.21 | -1.26% | -4.45% | $281 472 747 194 |  |
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| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000165 | -0.01% | 0.02% | $118 395 945 443 |  |
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| 4 |  BNB |
Binance Coin predictions | 79.2% | 30 | $532.26 | 1.99% | 5.14% | $77 674 310 031 |  |
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| 5 |  SOL |
Solana predictions | 80.8% | 37 | $132.25 | -3.62% | -0.63% | $61 883 929 991 |  |
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| 6 |  USDC |
USD Coin predictions | 92.8% | 1 | $1.000008 | -0.02% | 0.01% | $35 362 754 471 |  |
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| 7 |  XRP |
XRP predictions | 83.6% | 33 | $0.537441 | -0.35% | -3.72% | $30 273 691 657 |  |
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| 8 |  DOGE |
Dogecoin predictions | 84% | 29 | $0.101610 | -1.13% | 3.83% | $14 826 447 725 |  |
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| 9 |  TON |
Toncoin predictions | 62% | 77 | $5.29 | -3.16% | 15.09% | $13 396 592 479 |  |
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| 10 |  TRX |
TRON predictions | 69.6% | 55 | $0.152992 | 0.30% | 2.28% | $13 266 006 143 |  |
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| 11 |  ADA |
Cardano predictions | 80.4% | 37 | $0.344166 | -0.21% | 7.01% | $12 376 421 831 |  |
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| 12 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
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| 13 |  WTRX |
Wrapped TRON predictions | 93.2% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
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| 14 |  WBTC |
Wrapped Bitcoin predictions | 94.4% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
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| 15 |  AVAX |
Avalanche predictions | 67.6% | 61 | $23.47 | -3.25% | 7.04% | $9 511 202 705 |  |
