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We are excited to announce the second phase of the BNB Chain TVL Incentive Program – an opportunity for projects already deployed on BNB Smart Chain (BSC).
Complete this form to apply for the program!
Key Dates For BNB Chain TVL Incentive Program Phase 2
| What to expect | When |
|---|---|
| Appliaction epoch | 2024.03.05 – 2024.03.14 at 23:59 UTC |
| Competition epoch | 2024.03.15 at 00:00 – 2024.04.14 at 23:59 UTC |
| Reward settlement and issuance | Please note that half of the rewards (50%) will be sent to the participant’s BEP20 wallet address within 2 weeks after each epoch concludes. Winners must maintain their Total Value Locked (TVL) until 20 May 2024, seeing reductions of less than 15%. The remaining 50% of the reward will be distributed to the project’s wallet address by May 20th. |
Who Can Participate?
- Projects that have deployed on the BSC mainnet since January 1, 2023.
- Completion of at least one security audit.
- Projects are required to submit this form during the application period to be considered.
Prize Allocation
The top 5 projects with the highest incremental Total Value Locked (TVL) during each event period will be awarded prizes:Total prize pool: Up to $160K
Formula: $160K * (Total TVL increment / $40M)
For example, if TVL increased by:
$45M that month, the prize pool would amount to $160K worth of BNB.
$40M that month, the prize pool would amount to $160K worth of BNB.
$20M that month, the prize pool would amount to $80K worth of BNB.
*Note: Projects must register during the registration period to participate in this program.
The baseline TVL is calculated based on the average daily TVL for the 30 consecutive days leading up to the event announcement date.
Incremental TVL per project = the project’s average daily TVL for the last 7 consecutive days of the event epoch – baseline TVL
Reward Pool Distribution:
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.
- 1st prize: 50% of the total prize pool
- 2nd prize: 30% of the total prize pool
- 3rd prize: 10% of the total prize pool
- 4rd prize: 6% of the total prize pool
- 5rd prize: 4% of the total prize pool
The total prize pool for each epoch varies depending on the final amount of the total TVL increase during the epoch:
For example:
If total TVL increase reaches 40M, then total prize pool = $160K for that epoch:
- 1st prize receives $80,000
- 2nd prize receives $48,000
- 3rd prize receives $16,000
- 4rd prize receives $9,600
- 5rd prize receives $6,400
If total TVL increase is 20M, then total prize pool = $80K for that epoch:
- 1st prize receives $40,000
- 2nd prize receives $24,000
- 3rd prize receives $8,000
- 4rd prize receives $4,800
- 5rd prize receives $3,200
Stay informed by following us on X for future updates. Don’t miss out on any developments! We’re excited to have you join us on this thrilling journey. Keep building!
Terms & Conditions
- Prize Eligibility Calculation Formula:
- The baseline of each project = The project’s daily average TVL for the 30 consecutive days leading up to the official event announcement (5 March 2024).
- Incremental TVL for the project = the project’s average daily TVL for the last 7 consecutive days of the event epoch – baseline TVL.
- Note: TVL derived from a project’s governance token is excluded.
- Reward distribution:
- Rewards will be distributed in 2 batches:
- Half of the rewards (50%) 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.
- Upon conclusion of the event, winners are required to maintain their Total Value Locked (TVL) until May 14th, ensuring a reduction of less than 15%. Subsequently, the remaining 50% of the reward will be distributed to the project’s wallet address around May 20th.
- The BNB Chain core team will distribute rewards according to the real-time BNB token exchange rate on the distribution day.
- Rewards will be distributed in 2 batches:
- 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 are displaying 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 voluntary. Eligible applicant projects must agree to additional terms to join the program. We do not control activity or data on the BNB Chain, which is a public, decentralized blockchain. Our involvement in the program does not imply endorsement of third-party projects participating in it.
