Dubai, UAE, June 19th, 2024,
Chainwire
BNB Chain, the community-driven blockchain
ecosystem that includes the world’s largest smart contract
blockchain, today announced the launch of the third installment
of its (Total Value Locked)
Incentive Program. This program is committed to nurturing Web3
ventures that are deployed on BNB Smart Chain (BSC) or opBNB.
Two challenges have been crafted for this series: a $100,000 BNB
Lock-Up Challenge (Part A) and a $200,000 TVL Challenge (Part B).
The TVL Challenge now includes all forms of assets, not just
BNB.
The BNB Staking Challenge is engineered for DeFi platforms that
support BNB staking, with participants to be ranked and rewarded
based on their BNB lock-up and staked LSD BNB increments during the
event. The reward for this challenge extends up to $50,000 with all
DeFi platforms supporting BNB staking are eligible to get
involved.
The TVL Incentive Program offers a $200,000 prize pool to be
distributed based on the total incremental TVL of all participants
and is open to DeFi projects on opBNB and BSC. Participants will
share rewards calculated on their incremental TVL and BNB locked
during the event period.
The third installment of the BNB Chain TVL Incentive Program not
only boosts innovative projects on BNB Chain but also fosters a
stimulating ecosystem to accelerate growth. Several successful
recipients of our past TVL Incentive Program, like Kinza Finance,
BSquared, and Thena have become cornerstone projects within the BNB
ecosystem, showcasing significant growth.
Applicants must pass at least one security audit and be live on
BSC or opBNB for consideration. Weighting and further criteria can
be found here and applications
can be made here.
The application period for Part A and Part B commences from 19
June 2024 to 26 June 2024. The competition period will run from 27
June 2024 to 27 July 2024. The winner announcement for both
challenges is slated for 30 July 2024.
The rewards for both challenges will be dispensed within three
weeks of the event's conclusion. Full terms and conditions of the
TVL Challenge, such as participants needing to maintain their TVL
for one calendar month – with a TVL reduction of less than 15% –
for the remaining 50% of their rewards to be distributed around 28
August 2024, can be found in the link.
The TVL Incentive Program, featuring a total of $300,000 in
prizes, builds on BNB Chain’s existing initiatives - such as its
Most Valuable Builder (MVB) program, cementing BNB Chain’s
dedication to fostering the Web3 ecosystem.
For more detailed information and to submit application, users
can visit here.
Contact
BNB
Chain
press@bnbchain.org