Dubai, UAE, January 15th, 2025, Chainwire
BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain by daily transactions, has announced the launch of its BNB Executive TVL Incentive Program #5, offering up to 5% of incremental staked BNB as delegation support to the top five protocols, with a total of up to 50,000 BNB. Combined with the $40M Ecosystem Fund from KernelDAO, a top restaking protocol with $2 billion in assets, this represents a commitment to advancing decentralized finance and restaking technology on BNB Chain.
BNB Chain’s TVL Incentive Program #5 opens for registration on January 15, 2025, and will run from January 21, 2025, to February 21, 2025. The campaign is designed to incentivize projects integrating BNB staking, liquid staking, and restaking. The campaign commits delegation staking support equivalent to up to 5% of incremental Total Value Locked (TVL) growth in staked BNB achieved during the campaign. Each protocol can receive up to 20,000 BNB with a total pool of 50,000 BNB allocated. Rewards will be distributed to the top five performing protocols that drive innovation and adoption within the ecosystem. For more details, users can visit here.
“Through the TVL Incentive campaign, we aim to empower projects to achieve their full potential, while rewarding those who stake and help secure the expanding ecosystem. By locking in TVL and supporting their growth, we are not only advancing our mission of onboarding the next billion Web3 users but also positioning BNB Chain as a network of networks,” said Marwan Kawadri, Head of EMEA at BNB Chain.
Simultaneously, KernelDAO has unveiled its $40 million Ecosystem Fund to accelerate development across restaking and shared security to support projects building on its network within the BNB Chain ecosystem. Supported by leading investors like Laser Digital, SCB Limited, Hypersphere Ventures, Cypher Capital, ArkStream, and Levitate Labs, this fund aims to empower developers to build middleware and applications on BNB Chain. Additionally, KernelDAO will allocate 5% of its token supply as ecosystem development grants for developers and partners building and working with the KernelDAO ecosystem. With the support of over 20 prominent middleware and applications including top AI players like Mira, and Zero-Knowledge proof networks like Electron, Kernel is set to expand its ecosystem by adding over 45 strategic partners through the Ecosystem Fund. Applications are now open and partners can apply by visiting here.
“The launch of the Ecosystem Fund is a significant step towards increasing our efforts to build the restaking and DeFi landscape on the BNB Chain. By empowering developers to build projects on Kernel, we aim to boost innovation across middleware, applications leveraging restaking,” said Amitej Gajjala, Chief Executive Officer and Co-Founder of KernelDAO.
Users can learn more about the BNB Chain TVL Incentive Program #5 including rules and eligibility here.
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 some of 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.
About KernelDAO
KernelDAO is a top restaking protocol, with over $2 billion total value locked and live on 10+ chains and backed by Binance Labs, Laser Digital, SCB, Cypher Capital etc. KernelDAO’s three key products include Kernel – the restaking infrastructure on the BNB Chain, Kelp LRT – a leading liquid restaking protocol on Ethereum, and Gain – a tokenised rewards program designed for users to maximize their earning potential by accessing highest rewards and top airdrops conveniently. By empowering stakers, developers, and protocols, KernelDAO is committed to driving the next wave of Restaking innovation, creating opportunities for all to participate in emerging technologies, and be the backbone of decentralized economic security.
Users can follow KernelDao on X. Learn more at https://kerneldao.com/.
Contact
BNB Chain
press@bnbchain.org
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