BNB Chain Launches $300,000 TVL#4 Incentive Program to Boost DeFi Ecosystem

BNB
Chain
has
announced
the
launch
of
the
BNB
Chain
TVL#4
Incentive
Program,
a
new
initiative
aimed
at
accelerating
the
growth
of
decentralized
finance
(DeFi)
ecosystems
on
its
platform.
According
to
the

BNB
Chain
Blog,
the
program
features
a
total
prize
pool
of
up
to
$300,000,
encouraging
projects
to
expand
their
total
value
locked
(TVL)
and
participate
in
staking
challenges.

Program
Structure

The
TVL#4
Incentive
Program
is
divided
into
two
main
parts:

1. 
   Part
   A:
   BNB
   Staking
   Challenge
   with
   a
   $100,000
   prize
   pool.
2. 
   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
that
support
BNB
staking.
Participants
will
be
ranked
by
their
performance
in
increasing
their
locked
BNB
during
the
event
period.
The
rewards
for
the
top
three
performers
are
as
follows:

How
to
Participate

To
participate
in
Part
A,
projects
must
complete
the
registration
form
during
the
application
period,
providing
details
such
as
project
name,
chain
(opBNB
or
BSC),
Defilama
link,
and
all
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
either
opBNB
or
BSC.
Projects
will
compete
based
on
the
incremental
TVL
they
generate
during
the
event
period.
The
prize
pool
is
dynamically
unlocked
based
on
the
total
TVL
increment
across
all
participants,
with
a
maximum
prize
pool
of
$200,000.

How
It
Works

The
dynamic
prize
pool
formula
is
as
follows:

Prize
Pool
=
$200K
*
(Total
TVL
Increment
/
$80M).
For
instance,
$200,000
will
be
unlocked
if
TVL
increases
by
$80M
or
more,
while
$50,000
will
be
unlocked
if
TVL
increases
by
$20M.

How
to
Participate

To
participate
in
Part
B,
projects
must
complete
the
registration
form
during
the
application
period,
providing
details
such
as
project
name,
chain
(opBNB
or
BSC),
the
part
of
the
challenge
they
are
participating
in,
Defilama
link,
and
contract
addresses.

Additional
Details
and
Terms

Participants
must
submit
an
application
through
the
form
provided.
Projects
that
registered
during
TVL#3
will
automatically
be
enrolled
in
TVL#4.
The
rewards
will
be
distributed
in
two
batches,
with
50%
of
the
rewards
given
within
two
weeks
after
the
end
of
each
epoch
and
the
remaining
50%
distributed
around
November
20th,
provided
certain
conditions
are
met.

The
BNB
Chain
core
team
reserves
the
right
to
disqualify
projects
using
illegal
bulk
wallet
addresses
or
exhibiting
fraudulent
activity.
They
also
reserve
the
right
to
amend
or
cancel
the
program
at
any
time
without
prior
notice.

Participation
in
the
BNB
Chain
TVL
Incentive
Program
is
voluntary,
and
eligible
projects
must
agree
to
additional
terms
to
join
the
program.
The
BNB
Chain
core
team’s
involvement
does
not
imply
endorsement
of
third-party
projects
participating
in
it.

Image
source:
Shutterstock