Dubai, UAE, December 4th, 2024, Chainwire
In November, the humid air of Bangkok was alive with energy. Devcon’s bustling crowds mirrored the excitement of Bitcoin shattering the $90,000 mark while whispers of memecoins rippled across social media like an electric undercurrent.
Traffic stood still, streets painted in the red hues of gridlock. The same shade of red glimmered in the eyes of hackathon developers—exhausted yet exhilarated from intense, time-bound coding sessions.
Amid this charged atmosphere, BNB Chain’s Bangkok Hackathon cut through the usual noise and stood firm as the ideal platform of real Web3 innovation.
Inside the hackathon venue, the air was cool, and the space buzzed with quiet determination—if by “quiet,” you mean the sound of frantic keyboard smashing and occasional cries of “I can’t find the bug!”
Tom Yum-flavored chips were the first to vanish, as if hoarded by a mysterious snack bandit, while Coca-Cola fueled developers with the jittery resolve of people who had made terrible sleep-related life choices. By the end of the 24-hour coding marathon, 38 projects had emerged, along with a collective realization that “debugging at 3 am” is its own unique form of self-inflicted punishment.
Eight teams earned coveted presentation slots, half of them from India. Three secured funding for their next steps, exchanging handshakes and whispered “good luck” that hinted at larger ambitions.
This was more than a competition—it was the spark that ignited a storm, a whirlwind of innovation and ambition poised to reshape the landscape of Web3.
The “Silent” Years of BNB Chain
“BNB Chain is dead.” It’s a phrase that echoed across certain corners of the Web3 community in recent years, painting a picture of stagnation. Yet, beneath this perception lay a quiet but undeniable momentum.
As of November, BNB Chain ranks consistently among the top blockchains, standing third in stablecoin market cap and fourth in total value locked (TVL) at over $8 billion.
It handles one-sixth of all blockchain transactions globally. The ecosystem boasts 218 developer tools, 800 active applications, and a growing footprint in DeFi, gaming, and AI.
One of BNB Chain’s crown jewels is its Most Valuable Builder (MVB) program, launched in 2021 to incubate early-stage projects. Of the 131 projects nurtured across seven cohorts, 75 received backing from top-tier investment firms, and over 60 successfully launched their tokens, with many listed on major exchanges. Five MVB Projects such as Galaxy, Mobox, SpaceID,SleeplessAI and Altlayer listed on Binance Launchpool, owe their growth to this quiet yet impactful initiative.
In a space where attrition often overshadows progress, BNB Chain’s ability to sustain and elevate projects speaks volumes.
Building Toward the Horizon
While Solana has captured attention with its memecoin boom, BNB Chain observes with a clear understanding of the broader picture. Memecoins are undoubtedly a cultural phenomenon, and while their numbers on BNB Chain may currently be fewer, platforms like Four.meme and ongoing ecosystem initiatives lay the groundwork for a more sustainable and impactful memecoin presence in the future.
However, BNB Chain’s ambitions extend well beyond fleeting trends. Its focus lies in creating an ecosystem designed for longevity, driving innovation in critical areas like DeFi, gaming, AI, and stablecoins. By prioritizing meaningful, real-world applications, BNB Chain is quietly laying the foundation for the next chapter of Web3—one that emphasizes utility and growth over hype.
To help build this vision, BNB Chain has adopted a three-phase development strategy.
Three-Phased Strategy for Development
BNB Chain’s approach to fostering innovation is deliberate and structured:
- Early-Stage Incubation: Through initiatives like hackathons and the BNB Incubation Alliance (BIA) program, promising ideas receive crucial funding and resources. The MVB program takes this further, offering tailored incubation sessions that provide targeted support over several weeks.
- Mid-Stage Deployment: Once projects launch, they benefit from ecosystem incentives tied to key performance metrics such as daily active users, TVL, and transaction volume. These incentives are bolstered by technical guidance, marketing assistance, and customer support to ensure sustained growth.
- Late-Stage Growth: As projects mature, they gain deeper integration into BNB Chain’s ecosystem. This stage includes access to investment opportunities, exchange listings, and long-term development resources, helping projects scale and thrive.
Supporting these efforts is the robust “One BNB” ecosystem, which provides the technological backbone for innovation: BSC,opBNB and decentralised storage chain Greenfield.
Together, these interconnected components form a dynamic foundation that empowers both developers and users, ensuring every idea has the resources and infrastructure needed to succeed.
Empowering AI and Beyond
AI is one of BNB Chain’s most promising frontiers. With over 30 active AI-related deployments, seven of them have been invested by Binance Labs, the ecosystem supports applications like My Shell, NFPrompt, and zkPass. Data labeling projects like DIN, Alaya AI, and JoloWorld. According to DappRadar data as of November 20, Din ranks first among all AI applications with nearly 700,000 weekly active addresses, and seventh among all categories.
Greenfield’s decentralized storage capabilities resonate with data-intensive projects, aligning perfectly with emerging decentralized science (DeSci) initiatives.
In fact, Greenfield’s impact extends beyond AI. It offers researchers and data-centric projects the tools to store, own, and monetize data securely—unlocking new possibilities in decentralized research and intellectual property management.
Beyond AI, BNB Chain’s influence spans multiple sectors:
- DeFi: BTCFi Projects like Solv Protocol and Avalon Labs showcase impressive TVL growth, with many emerging from the MVB program.
- Gaming: During the GameFi boom, BNB Chain hosted over 40% of gaming projects, generating immense developer and player engagement. Games like Seraph and Gomble Games consistently attract hundreds of thousands of weekly active users.
A Vision for the Future
In an industry fixated on chasing the next big trend, BNB Chain stands apart with its unwavering commitment to building for the long term. It doesn’t follow the noise—it creates the foundation.
Through relentless infrastructure innovation, empowering developer programs, and a sharp focus on transformative sectors like AI, gaming, and DeFi, BNB Chain is not just preparing for the future of Web3—it’s shaping it. Its vision of onboarding the next billion users may sound ambitious, but with its deliberate and strategic progress, it feels less like a lofty aspiration and more like an inevitable reality.
BNB Chain may not shout the loudest, but it doesn’t need to. In a landscape often driven by fleeting hype, its quiet determination, pragmatic approach, and steadfast focus are what set it apart—and what will ensure its place as a cornerstone of the Web3 revolution.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:
- BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
- opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
- BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.
Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.
For more, users can follow BNB Chain on X or start exploring via the Dapp library.
Contact
BNB Chain
press@bnbchain.org
