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BNB Chain TVL Incentive Program: Compete For a Prize Pool of Up To $160K

2023.12.6  •  3 min read
Blog post image.

Are you ready to embark on a journey that not only amplifies your project but also rewards your innovation? Look no further! We're thrilled to present the BNB Chain TVL Incentive Program – an opportunity for you to deploy your project on opBNB and be part of a dynamic and rewarding ecosystem.

Submit this form to apply for the program!

A Sneak Peek into the Program

Program roll out

What to expect

When

Phase 1

Application period 

2023.12.6–2023.12.14 23:59 UTC

Competition epoch

2023.12.15 00:00–2024.1.14 23:59 UTC

Reward settlement and issuance

BNB rewards will be distributed within 2 weeks of the epoch’s conclusion.

Phase 2 details will be announced on our official channels in the near future. 

Prize Allocation

The baseline TVL of each project participating in this program is calculated based on the daily average TVL on opBNB for the 7 consecutive days leading up to  the official announcement of the program.

Reward Pool Distribution Per Epoch:

The total prize pool for each epoch varies depending on the final amount of the total TVL increase during the epoch:

Total prize pool = $160K* (*where the total TVL increment reaches $16M per month).

The upper limit is $160K for the first epoch.

For example:

  • $160K worth of BNB will be awarded per month if TVL increases by $20M during the epoch
  • $160K worth of BNB will be awarded per month if TVL increases by $16M during the  epoch
  • $80K worth of BNB will be awarded per month if TVL increases by $8M during the epoch

At the end of each epoch, the distribution will be based on TVL increase rankings, with participants receiving a share proportional to their standing in the competition.

  • First prize= 60% of the total prize pool
  • Second prize = 30% of the total prize pool
  • Third prize = 10% of the total prize pool

For example: 

  • If total TVL increase reaches 16M, then total prize pool = $160K for that epoch:
    • 1st prize: receives $96,000
    • 2nd prize: receives $48,000
    • 3rd prize: receives $16,000
  • If total TVL increase is 8M, then total prize pool = $80K for that epoch:
    • 1st prize: receives $48,000
    •  2nd prize: receives $24,000
    •  3rd prize: receives $8,000

To calculate whether your project is eligible to receive rewards, use the formula:

Incremental TVL per project = the project’s average daily TVL for the last 7 consecutive days of that event epoch – baseline TVL

Who Can Participate?

  • Audited projects that are live on the opBNB mainnet.
  • Projects that complete this form during the application period.

We encourage you to stay tuned for more updates. Follow us on X to ensure you don’t miss out.

We look forward to you joining us on this exciting journey. Keep building! 

Terms & Conditions

  • Projects must have completed a security audit to be eligible for this program;
  • Projects must apply through this form before December 15th, 2023;
  • Prize Eligibility Calculation Formula: 
    • Incremental TVL for the project = the project’s average daily TVL for the last 7 consecutive days of the event epoch – baseline TVL
    • The baseline of each project = The project’s daily average TVL for the 7 consecutive days leading up to the official event announcement.
      • Note: TVL derived from a project’s governance token is excluded. 
  • Reward distribution:
    • BNB rewards will be distributed within 2 weeks of each epoch’s conclusion to the BEP20 wallet addresses that the participant provides in the application form.
    • The BNB Chain core team will distribute rewards according to the real-time BNB token exchange rate on the distribution day.
  • We encourage projects to use the rewards received from this program to keep building their TVL on BNB Chain.
  • The BNB Chain core team reserves the right to disqualify projects that are deemed to be using illegal bulk wallet addresses, or those that are displaying attributes of market manipulation, etc.
  • The BNB Chain core team reserves the right in its sole discretion to amend or cancel this program at any time and for any reason without prior notice.
  • Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.

Disclaimer

Participation in the BNB Chain TVL Incentive Program is completely optional. Applicant projects that are found eligible are required to agree to additional terms and conditions to benefit from the program. We do not and cannot control activity and data on the BNB Chain or the activities that community participants may develop using BNB Chain, which is a public, decentralized and permissionless blockchain. Participation in the BNB Chain TVL Incentive Program by any third-party project should not be construed as a recommendation, vetting, or endorsement of such third-party projects by us, or any other affiliated entity.

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