Meter TVL Incentive Program
Forum Discussion: Link
Governance Proposal: Link
Core Objective
As with the ‘Meter Developer Grant Program’, the core objective of the Meter Up TVL Incentive program is growth and adoption of Meter Network as a public goods platform.
Key Performance Criteria to choose a recipient
We at Meter Foundation understand that success of Meter Network is a byproduct of the success of the dApps deployed on the Network. This program aims to share the burden of adoption by incentivizing TVL ON ALL DAPPS (meeting operational requirements specified below) deployed on the network.
Program Incentives
| TVL | APR | TVL Source | Method |
|---|---|---|---|
MTRG pairs with Blue chip Assets (Top 30 assets by market cap) | 10% | Defillama | Time weighted average of TVL over the past month |
All Other TVL | 7.5% | Defillama | Time weighted average of TVL over the past month |
Builders can use the rewards to internalize profits or use as liquidity incentives back to users.
As all rewards are directly correlated to TVL, we anticipate users to be fairly incentivized by the dApps. MTRG incentives will be over and above any incentives provided by the dApps.
Program Terms and Eligibility
Register their protocol with DeFi Llama (https://defillama.com/) to track the TVL. Only TVL mentioned on Defillama will be used. Usage will be calculated by the time-weighted total value locked (TVL) of the protocol.
In case of change in key contracts, it is the responsibility of the project team to update the information on Defillama. Requests to consider TVL not updated on Defillama will not be reviewed. We will make no exception to this rule to reduce operational overheads
To ensure builders do not game the program, we reserve the right to waive incentives for non-qualified TVL.
Project should be deployed on the Meter Network at the time of the monthly distribution
Projects should have a minimum TVL of US$10,000 at the time of distribution
Overall Duration for the Program
The MTRG incentives will be reviewed when the total TVL reaches 25 Million or at the end of 1 year post launch of the program (whichever is earlier).
Key Categories
As the program incentivizes TVL on the network; naturally, categories of dApps supporting TVL are only applicable. They are;
DeFI Protocols (Derivatives, Lending, Stablecoin Solutions, Insurance, Yield Optimizers, Reserve Currency)
Gaming (P2E, Move to Earn, Metaverse, GameFI etc.) – where applicable
DEX (AMMs with farms)
Categories not mentioned but supporting TVL would also be incentivized.
MTRG Incentive Distribution
MTRG Rewards are distributed at the end of every month to each protocol’s `Deployer Address’ submitted in the ‘Meter Up’ Registration Form (Link).
Incentives will be distributed in the beginning of the month based on TVL reported
Example
Projected Rewards = Project time-weighted-average TVL of MTRG pairs with blue chip assets x 10% + Project time-weighted-average TVL x 7.5%
Project time-weighted-average TVL of MTRG pairs with blue chip assets = $2,000,000
All other Project time-weighted-average TVL = $5,000,000
Projected Annual Rewards = 2 Million USD x 10% + 5 Million USD x 7.5% = 0.575 Million USD
Projected Monthly Rewards = 47,920 USD
Rewards may vary based on the price of MTRG. Builders can use the rewards to internalize profits or use as liquidity incentives back to users.
Requirements
‘Meter Up’ TVL Incentive Program Registration Form - https://forms.gle/TcLb1gnEdtaibgmx8
If you have not heard from us in 5 days, please reach out to @xiaohanzhu or @sg_meter on Telegram.
Last updated