Announcing the TVL Incentive Program #3: Boosting BNB and TVL Growth on opBNB and BSC!

We’re thrilled to introduce the TVL Incentive Program #3, a groundbreaking initiative to propel BNB and Total Value Locked (TVL) growth for projects on opBNB and BSC. This program is designed to enhance BNB/liquid staking BNB(lstBNB) lock-up and incentivize the ecosystem to grow TVL through a competitive challenge with substantial rewards. 

Submit your applications today! 

Please be sure to complete the submission form in full and include the following information:

• project's name,
• which chain are you deployed on,
• all relevant contract addresses.

 Challenge Overview

Here's everything you need to know about the two parts of the program:

• Part A: Focuses on encouraging the lock-up of BNB tokens and welcoming participation from all DeFi platforms that support BNB staking.
• Part B: Invites DeFi projects to compete for Total Value Locked (TVL), fostering innovation and growth within the ecosystem.

Part A: BNB Lock-up Challenge – Battle for a $100,000 Prize Pool!

This challenge is open to all DeFi platforms that support BNB. There is no limit on deployment time, just submit your application through this form. 

Participants will be ranked based on their incremental BNB locked and Liquid Staking BNB locked during the event.

Prize Pool: $100,000

Key Dates

Reward Structure:

• Top 1: $50,000
• Top 2: $30,000
• Top 3: $20,000

Weighting:

• Baseline Formula: The average BNB locked for 30 consecutive days before the event announcement.
• Incremental BNB Locked per project: Project’s average daily BNB Locked for the last 7 days of the event – Baseline .

Part B: TVL Incentive Program – Compete for up to $200,000 in Prizes!

This competition is open to all DeFi projects on opBNB and BSC. The prize pool will be unlocked based on the total incremental TVL of all participants.

Prize Pool: Up to $200,000 subject to total TVL increment. 

Key Dates

Dynamic Prize Pool Formula: $200K * (Total TVL Increment / 50M)

For example:

• $200K if TVL increased by $60M that month
• $200K if TVL increased by $50M that month
• $80K if TVL increased by $20M that month

Reward Structure:

Baseline TVL Calculations:

• BSC: The average daily TVL for the 30 consecutive days before the event announcement.
• opBNB: Same baseline period.

Ranking and Rewards:

Projects on opBNB and BSC will be ranked separately. A project can only win once, with the highest value taken if it ranks in both.

Eligibility Calculation:

• Incremental TVL per project: Project’s average daily TVL for the last 7 days of the event – Baseline TVL.
• Incremental BNB Locked per project: Project’s average daily BNB Locked for the last 7 days of the event – Baseline BNB Locked.

Who Can Participate?

• Projects deployed to opBNB mainnet
• Projects deployed on BSC after January 1, 2023
• Projects with at least one security audit
• Projects that complete the application form during the registration period

Join us in this groundbreaking initiative to elevate BNB and TVL on opBNB and BSC. Let's build and grow together in this new era!

Terms & Conditions

• To participate in the challenge, participants must submit an application through the form.
• Projects can apply for the challenges they want to participate in according to their needs. Projects that meet the competition requirements can also sign up for two challenges at the same time, but can only receive one reward in the end and cannot win the award repeatedly. The highest reward will be issued.
• About Part B： TVL derived from a project’s governance token is excluded. 
• Reward distribution:
  • Part A: The reward will be sent to the winner's wallet address within 3 weeks after the event ends.
  • Part B: Rewards will be distributed in 2 batches
    • 50% of the rewards will be distributed within 2 weeks after the end of each epoch to the BEP20 wallet address provided by the participant in the application form.
    • When the event ends, the winner needs to keep their TVL for one calendar month from the start of the campaign (TVL reduction <15%), and the remaining 50% of the reward will be distributed to the project’s wallet address around August 28th.
  • 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, those that display attributes of market manipulation, or other fraudulent activity.
• 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 BNB Chain, or any other affiliated entity.

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