Binance Doubles Down on Support for Ethereum Ecosystem

Cryptocurrency exchange powerhouse Binance has always taken something of an “all of the above” approach to cryptoeconomy ventures.

This dynamic led to the company developing Binance Smart Chain (BSC), a blockchain that’s in the ballpark of other smart contract projects like Ethereum, Polkadot, EOS, and more.

Thus as Binance has ramped up its activities around the BSC ecosystem in recent months, like the launch of the Venus stablecoin system and the Vai stablecoin, some in Ethereum circles have grown weary that Binance was trying to muscle its way past Ethereum.

Yet Binance founder and CEO Changpeng Zhao has long stressed how he thinks the future of crypto won’t be defined by chain rat races, but rather by interoperability, collaboration, and ultimately shared and parallel successes.

Fair enough, and Binance is living up to that collaborative vision in a big way if the exchange’s newly announced pledge to the Ethereum ecosystem is any indication.

$100k Donation to ETH Community

This week, Binance CEO Zhao announced at the Binance Summit: Blockchain Applied that the crypto exchange would be donating $100,000 USD Gitcoin Grants Round 8, which will run from Dec. 2nd to Dec. 18th, 2020.

Gitcoin is like a social network on steroids for the Ethereum freelancer community. Among Gitcoin’s flagship offerings is Gitcoin Grants, a donation funding system for Ethereum’s innovators that uses a special Quadratic Funding (QF) algorithm to let grassroots donations of as little as $1 get matched to the tune of +$100 a pop by other donors.

Gitcoin holds its grants seasons in rounds, which have become increasingly popular and respected in the ecosystem over the course of 2020. The last round, Gitcoin Grants Round 7, was the largest one yet, fielding more…

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