[PRESS RELEASE – Dubai, UAE, May 21st, 2024]
BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, today announced the launch of its Trading Volume Incentive Program for traders and projects building on opBNB and BNB Smart Chain (BSC). The program is divided into two parts, each with its own eligibility criteria and rewards. Part I is the Trading Volume Challenge, open to opBNB and BSC projects looking to boost their trading volumes and potentially earn lucrative rewards of up to $200,000. Interested users can apply here. Part II is the Trading Rankings Competition, open to all community users, offering rewards of up to $50,000. Users can apply here.
Designed to potentially reward both trading enthusiasts and ecosystem projects, the Trading Volume Incentive Program aims to bolster growth within the BNB Chain ecosystem. Projects building on BSC or opBNB are eligible to apply to Part I of the program. They will have the opportunity to get a portion of the prize pool, determined by the total increment trading volume during the event. The baseline is determined by the aggregate trading volume of all participants within the 30 days preceding the announcement and rewards will allocated as below:
- Top 1 = 40% of the total prize pool
- Top 2 = 25% of the total prize pool
- Top 3 = 15% of the total prize pool
- Top 4 = 7% of the total prize pool
- Top 5 = 4% of the total prize pool
- Top 6-10 = 9% of unlocked rewards split equally
The application period for Part I: Trading Volume Challenge will run from 21 May to 26 May 2024, 23:59 UTC. The competition period will run from 27 May to 25 June, 2024.
Participants can increase their chances of winning by up to five times by growing their trading volume. More details on participation terms and reward allocation can be found here.
Part II of the program is open to all Web3 users, including old and new, and participants stand a chance to win rewards of up to $50,000. Rewards will be allocated to top performers ranging from $2,000 to $5,000, with additional rewards for lucky draw winners. To join, users can submit their wallet address here, and for the chance to get more rewards during the event, they can try and increase their trading volume. To be eligible for the lucky draw, users’ addresses must have conducted transactions totaling at least $10,000.
The application period for Part II: Trading Rankings Competition will run from 27 May to 25 June 2024, 23:59 UTC. The lucky draw will be conducted during a live AMA session on the BNB Chain X account post-event. The leaderboard is currently under development and will be ready in early June. Users can stay tuned for the announcement on BNB Chain’s X account.
Users can visit here to find out more about the Trading Volume Incentive Program, and keep updated on X.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:
- BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
- opBNB: A scalability L2 that delivers the lowest gas fees of any L2 and rapid processing speeds.
- BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.
Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.
For more, users can follow BNB Chain on X or start exploring via our Dapp library.
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