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 | 75.2% | 50 | $48 706.73 | -9.26% | -10.81% | $920 132 432 479 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 82.4% | 33 | $4 059.61 | -3.80% | -0.61% | $481 495 723 238 |  |
|
| 3 |  BNB |
Binance Coin predictions | 82% | 32 | $562.06 | -5.77% | -6.99% | $93 752 606 143 |  |
|
| 4 |  USDT |
Tether predictions | 94% | 1 | $0.999843 | -0.04% | -0.10% | $74 146 017 092 |  |
|
| 5 |  SOL |
Solana predictions | 69.2% | 62 | $200.85 | -6.55% | 3.29% | $61 387 860 524 |  |
|
| 6 |  ADA |
Cardano predictions | 64.8% | 72 | $1.41 | -10.52% | -9.18% | $46 958 385 031 |  |
|
| 7 |  USDC |
USD Coin predictions | 95.6% | 2 | $0.999385 | -0.03% | -0.05% | $39 796 534 169 |  |
|
| 8 |  XRP |
XRP predictions | 65.6% | 70 | $0.834001 | -10.39% | -11.92% | $39 404 303 399 |  |
|
| 9 |  DOT |
Polkadot predictions | 62.8% | 76 | $29.08 | -14.58% | -17.21% | $28 721 201 555 |  |
|
| 10 |  LUNA |
Terra predictions | 66.8% | 65 | $71.05 | 5.47% | 63.77% | $27 565 404 822 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 66% | 74 | $0.175319 | -12.61% | -14.55% | $23 209 784 837 |  |
|
| 12 |  AVAX |
Avalanche predictions | 64.8% | 73 | $90.70 | -14.60% | -19.51% | $22 013 847 272 |  |
|
| 13 |  SHIB |
SHIBA INU predictions | 64.8% | 73 | $0.000037 | -9.62% | -5.62% | $20 243 352 002 |  |
|
| 14 |  CRO |
Crypto.com Chain predictions | 57.6% | 86 | $0.595382 | -5.97% | -25.47% | $15 041 152 356 |  |
|
| 15 |  BUSD |
Binance USD predictions | 96% | 1 | $0.999915 | 0.09% | -0.01% | $13 732 244 013 |  |
