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The cryptocurrency space is still considered in its early stages as many projects strive to overcome traditional financial barriers. In March, Ethereum-based crowdfunding platform Gitcoin pledged $ 50,000 in development grants for coronavirus-related initiatives and has since sought to improve the state of the ecosystem from public health projects to projects to advance cryptography.
By joining Gitcoin in its effort, Binance has announced $ 100,000 for the next round of matching Gitcoin Grants. According to the CEO [CEO] of Binance, Changpeng Zhao this donation will support emerging Ethereum projects, while a portion of this fund will also contribute to hackathons on the issues of public good and the growing Web3.
CZ noted:
“We want to support Ethereum developers so they are able to identify and invest in the next generation of decentralized applications and services. We want to continue doing what we can to build the cryptocurrency industry as a whole and build more infrastructure for the future DeFi economy. The future is decentralized and we see Binance as a bridge to get there. “
This will bring Binance’s Smart Chain closer to the Ethereum ecosystem despite being already compatible. This was complementary to Binance Smart Chain’s $ 100 million accelerator fund. Since launch, BSC has awarded grants to 11 projects. This funding pushed the total number of projects on BSC to over 40. These projects included the recently added Gitcoin, along with other projects such as Bounce, DeFiStation, JustLiquity, and PARSIQ.
