BNB Chain has unveiled a TVL Incentive Program, inviting innovators to amplify their projects and win substantial rewards. The program encourages participants to deploy their projects on opBNB to be part of a thriving, lucrative ecosystem.
The program breaks down into phases. Phase 1 will kick-off with an application period from December 6, 2023, till December 14, 2023, followed by a competitive epoch between December 15, 2023, and January 14, 2024. BNB rewards will be issued within two weeks of the epoch's completion. Phase 2 details will be communicated via official channels in due course.
The seven-day daily average total value locked (TVL) on opBNB, prior to the official program announcement, is taken to calculate each participating project's baseline TVL.
The total prize pool for each epoch depends on the final amount of the total TVL rise during the epoch. If the total TVL increment touches $16M per month, the prize pool hits its upper limit of $160K for the first epoch. For instance, a TVL increase of $20M or $16M during the epoch results in an award of $160K worth of BNB each month, whereas a rise of $8M generates $80K worth of BNB each month.
At each epoch's close, the reward distribution depends on TVL increase rankings, with participants receiving a prize share proportionate to their standing. The distribution structure is as follows: First prize= 60% of the total pool, Second prize = 30%, and Third prize = 10%.
Audited projects live on the opBNB mainnet that have completed the application form during the prescribed period can participate.
