BNB Chain Launches $300,000 TVL#4 Incentive Program for DeFi Growth 🚀
BNB Chain has introduced the BNB Chain TVL#4 Incentive Program, a new initiative to boost the development of decentralized finance (DeFi) ecosystems on its platform. The program, detailed on the BNB Chain Blog, offers a prize pool of up to $300,000, encouraging projects to enhance their total value locked (TVL) and engage in staking challenges.
Program Structure
The TVL#4 Incentive Program comprises two main components:
- Part A: BNB Staking Challenge with a $100,000 prize pool.
- Part B: TVL Challenge with a $200,000 prize pool, including all assets.
Both challenges present significant opportunities for DeFi platforms to innovate and compete for substantial rewards. Registration for the program opened on September 5, 2024, and will continue until the end of the event.
Part A: BNB Staking Challenge
Event Timeline
- Challenge Period: September 12, 2024, 00:00 UTC – October 11, 2024, 23:59 UTC
- Winner Announcement: October 13, 2024
This challenge is open to all DeFi platforms supporting BNB staking. Participants will be ranked based on their performance in increasing their locked BNB during the event period, with rewards for the top three performers.
| Top 1 | $50,000 |
| Top 2 | $30,000 |
| Top 3 | $20,000 |
How to Participate
To join Part A, projects must complete the registration form during the application period, providing project details such as name, chain, Defilama link, and contract addresses.
Part B: TVL Challenge
Event Timeline
- Challenge Period: September 12, 2024, 00:00 UTC – October 11, 2024, 23:59 UTC
- Winner Announcement: October 12, 2024
This challenge is open to all DeFi projects deployed on opBNB or BSC. Projects will compete based on the incremental TVL they generate during the event period, with a dynamically unlocked prize pool based on total TVL increments across all participants.
How It Works
The prize pool formula depends on TVL increments: Prize Pool = $200K * (Total TVL Increment / $80M). For instance, $200,000 unlocks if TVL increases by $80M or more, and $50,000 unlocks if TVL increases by $20M.
How to Participate
For Part B, projects must complete the registration form during the application period, providing project details, chain, challenge part, Defilama link, and contract addresses.
Additional Details and Terms
Participants must apply through the provided form. Projects registered in TVL#3 will automatically be enrolled in TVL#4. Rewards will be distributed in two batches, with 50% given within two weeks after each epoch and the remaining 50% around November 20th, pending conditions.
The BNB Chain core team reserves the right to disqualify projects using illegal wallet addresses or engaging in fraudulent activities. They also reserve the right to modify or cancel the program without prior notice.
Participation in the BNB Chain TVL Incentive Program is voluntary, and eligible projects must agree to additional terms. The core team’s involvement does not indicate endorsement of participating third-party projects.
Hot Take: Seize the Opportunities in BNB Chain TVL#4 Incentive Program! 🌟
Embrace the chance to enhance your DeFi platform’s growth and competitiveness with the BNB Chain TVL#4 Incentive Program. Join the staking and TVL challenges to stake your claim to rewards and propel your project to new heights in the burgeoning DeFi landscape. Don’t miss out on this exciting opportunity to showcase your innovation and secure valuable prizes. Register today and lead the DeFi revolution on BNB Chain!
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