Fantom Incentive Program, how to apply
DeFi protocols on Fantom are experiencing incredible growth. To help projects build sustainability, we recently announced a 370,000,000 FTM incentive program open to any qualifying DeFi project building on Fantom. Incentives for NFT and gaming projects are in the works.
The incentive program is independent of the ongoing grants program supporting innovative projects on the network.
Protocols are rewarded based on their time-weighted average TVL.
At the moment, there are four bands as follows:
$5,000,000 to $50,000,000 TVL = 1,000,000 FTM
$50,000,000 to $100,000,000 TVL = 1,800,000 FTM
$100,000,000 to $200,000,000 TVL = 5,000,000 FTM
$200,000,000 TVL and above = 12,000,000 FTM
How to apply
- Fill out this form providing information about your protocol, including a publicly verifiable, preferably multi-sig team wallet address for reward distribution.
- Make sure that your project is listed on DefiLlama, as it will be used to track TVL.
- Submit your project on Fantom Projects.
Once the Foundation has approved an application, a two-month cliff begins.
- Awards are vested monthly over 12 months.
- If the protocol TVL falls below $5M during the vesting period, vesting is paused until minimum TVL is regained.
- If the TVL of a protocol that applied for a lower award rises above the required average TVL of a higher tier – for example, from (avg. TVL > $5,000,000) to (avg. TVL > $50,000,000) – that project will receive higher rewards over the remaining vesting period. For TVLs that dip from one tier to a lower tier, the inverse will apply.
Use of rewards
We believe that builders and devs know best how to allocate funds, so there are no restrictions on how awards may be used – whether to build the protocol or even for liquidity mining.
Supporting long-term development
Users on DeFi platforms will naturally follow the money and gravitate to protocols offering incentives.
But we took the long-view: we want to give protocols needed resources to create tools and offerings to retain users and stay relevant far into the future.
The rationale behind our incentive program is simple: we want projects to have resources to innovate, retain users, and build TVL. The more users stick, the higher the TVL. The higher the TVL, the higher the rewards.
Have more questions? Please reach out to us at [email protected]