DUBAI, UAE, December 6th, 2023, Chainwire
 
<a href="https://www.bnbchain.world/" rel="nofollow noopener" target="_blank">BNB Chain</a>, the community-driven blockchain ecosystem that includes the <a href="https://twitter.com/nansen_ai/status/1667129159435337728" rel="nofollow noopener" target="_blank">world’s largest smart contract blockchain</a>, today announced the launch of its new TVL (Total Value Locked) Incentive Program for Web3 projects on <a href="https://opbnb.bnbchain.org/en" rel="nofollow noopener" target="_blank">opBNB</a>. In its first round, the program offers a prize pool of up to $160,000 USD to the three eligible projects with the highest TVL increases within a certain time period.
The BNB Chain TVL Incentive Program is designed to empower innovative projects and amplify their presence within the opBNB ecosystem. This program not only provides a platform for projects to showcase their potential but also offers substantial rewards to further foster their growth.
Audited projects that are live on the opBNB mainnet are eligible to participate. TVL baselines will be determined according to the project’s TVL on opBNB for the 7 days leading up to the event announcement. Prizes will be allocated as below:
<ul>
 <li>First prize: Receives 60% of the total prize pool</li>
 <li>Second prize: Receives 30% of the total prize pool</li>
 <li>Third prize: Received 10% of the total prize pool</li>
</ul>
The total prize pool awarded is contingent on the total TVL of the participating projects. More details on participation terms and reward allocation can be found <a href="https://www.bnbchain.org/en/blog/bnb-chain-tvl-incentive-program-compete-for-a-prize-pool-of-up-to-160k" rel="nofollow noopener" target="_blank">here</a>.
In November, BNB Chain announced the <a href="https://www.bnbchain.org/en/blog/mvb-accelerator-program-teams-up-with-cmc-labs-to-launch-new-founder-track-aiming-to-incubate-100-new-projects-on-bnb-chain" rel="nofollow noopener" target="_blank">addition of a Founder Track</a> to its Most Valuable Builder (MVB) accelerator program. While the MVB program offers exciting opportunities to projects in the ideation phase, the TVL Incentive Program incentivizes projects in the post-deployment phase to continue building. More information on BNB Chain’s Web3 Builder Support program, which offers support at all stages of development, can be found <a href="https://www.bnbchain.org/en/developers/developer-programs" rel="nofollow noopener" target="_blank">here</a>.
The application period for the first phase of the program will run from Dec 6 to Dec 14, while the competition itself will run from Dec 15 to Jan 14. Applications can be made <a href="https://forms.monday.com/forms/e56919f2915dfbeb926ff89362fcfdc5?r=use1https://forms.monday.com/forms/e56919f2915dfbeb926ff89362fcfdc5?r=use1" rel="nofollow noopener" target="_blank">here</a>.
Details of the second phase will be released on the <a href="https://twitter.com/BNBCHAIN" rel="nofollow noopener" target="_blank">official BNB channels</a> soon.
More information on BNB Chain’s Web3 Builder Support suite of offerings can be found <a href="https://www.bnbchain.org/en/developers/developer-programs" rel="nofollow noopener" target="_blank">here</a>.
About BNB Chain
<a href="https://www.bnbchain.org/en" rel="nofollow noopener" target="_blank">BNB Chain</a> is a community-driven blockchain ecosystem that seeks to remove barriers to Web3 adoption. Powered by BNB, it includes the world’s largest L1 blockchain, the EVM-compatible <a href="https://www.bnbchain.org/en/smartChain" rel="nofollow noopener" target="_blank">BNB Smart Chain</a>, and fosters a multi-chain ecosystem with <a href="https://greenfield.bnbchain.org/en" rel="nofollow noopener" target="_blank">BNB Greenfield</a> and <a href="https://opbnb.bnbchain.org/en" rel="nofollow noopener" target="_blank">opBNB</a>. Offering ultra-low gas fees and superior TPS, the BNB Chain ecosystem hosts <a href="https://dappbay.bnbchain.org/" rel="nofollow noopener" target="_blank">thousands of dApps</a> across DeFi, metaverse, gaming, SocialFi, NFTs and infrastructure, each of which add value to its ecosystem.
BNB Chain fosters impactful Web3 innovation with its <a href="https://www.bnbchain.org/en/developers/developer-programs" rel="nofollow noopener" target="_blank">BNB Chain Builder Support Program</a>. This includes the <a href="https://www.bnbchain.org/en/bsc-mvb-program" rel="nofollow noopener" target="_blank">Most Valuable Builder (MVB) accelerator program</a>, run in partnership with Binance Labs and CMC Labs.
For more, follow BNB Chain on <a href="https://twitter.com/BNBCHAIN" rel="nofollow noopener" target="_blank">Twitter</a>.
 
<h5>Contact</h5>BNB Chain Comms Press@bnbchain.org 
 
 
Disclaimer. This is a paid press release. CoinMarketCap does not recommend that any cryptocurrency (bitcoin, ethereum, custom asset) should be bought, sold or held. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

New BNB Chain TVL Incentive Program Offers Up to $160K for Web3 Projects Building on opBNB (6 Dec)

Chainwire

Other articles published on Dec 6, 2023

Inquiry on Binance headquarters and audit left unanswered by new CEO Richard Teng

Bitcoin Futures Open Interest on CME Hit $5 Billion

Crypto Roundup, 06 Dec: Is Crypto's Magic Set to Spark Frenzy

Digital Asset Exchange OKX Joins Ethereum Climate Platform to Foster Sustainability

Critical Zone Alarm in BTC, ETH, and DOGE: Price Prediction with Charts

Shiba Inu soars 21% in a week, becomes 18th largest cryptocurrency by market cap

Join our free newsletter for daily crypto updates!