BNB Chain Launches $300,000 TVL#4 Incentive Program to Boost DeFi Ecosystem
The post BNB Chain Launches $300,000 TVL#4 Incentive Program to Boost DeFi Ecosystem appeared on BitcoinEthereumNews.com.
Felix Pinkston Sep 05, 2024 06:24 BNB Chain has unveiled a $300,000 TVL#4 Incentive Program to foster DeFi growth. Projects can compete in staking and TVL challenges. 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: Part A: BNB Staking Challenge with a $100,000 prize pool. 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: Top 1 $50,000 Top 2 $30,000 Top 3 $20,000 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…
Filed under: News - @ September 5, 2024 6:27 am