Core Builder Incentive Program

Overview

The Builder Incentive Program is designed to incentivize developers and projects that can demonstrate significant contributions to the growth and activity of the Core ecosystem. This program is designed to promote innovation, attract high-quality network contributions, and ensure the sustainable growth of Core’s DeFi ecosystem.

Program Details

Duration:

• 12 months

Key Dates:

• Event Announcement Date: March 25, 2024
• Competition Period: March 25, 2024, 23:59:00 UTC – March 25, 2025, 23:59:00 UTC

Who Can Apply?

• Anyone building an open source project on Core can apply to Core Builders Incentive Program
• Projects must register during the registration period to participate in this program.
• Projects must have undergone at least one security audit from a reputable firm.
• Projects must have properly maintained social media channels, forums, blogs, newsletters, etc. that showcase the project's vision, mission, and roadmap.

Registration Form

Click here

Incentive Structure

The Builder Incentive Program is structured to incentivize projects on Core based on three performance metrics: Total Value Locked (TVL), Daily Active Users (DAU) and Number of Transactions. The total potential prize pool for the builder incentive program is up to 400K CORE per month, distributed across these three performance metrics.

Prize Allocation

Below, we describe in detail the requirements to meet the TVL, DAU and Number of Transactions performance metrics. You’ll find that the Builder Incentive Program is designed to reward not just participation, but success, with rewards scaling upwards based on participants clearing certain thresholds for each of the three metrics.:

1.TVL Performance

TVL Measurement

To measure the TVL performance of an applicant project, the following will be considered:

• Baseline TVL: calculated based on the average daily TVL for the 30 consecutive days until the event announcement date.
• Incremental TVL per project: the project’s average daily TVL for the last 7 consecutive days of the monthly activity period minus the baseline TVL The top 10 projects with the highest incremental TVL during each monthly activity period will be awarded prizes from a dynamic total prize pool of up to 200K CORE.

Dynamic Total TVL Prize Pool

The prize pool is dynamic to incentivize top-quality projects effort and outcomes from program participants. Based on combined TVL increases of all participants in this incentive program within activity periods, the total available prize pool increases for the TVL category. Below are the thresholds at which the total TVL category prize pool increases:

• $30M+ TVL in the measured month, the prize pool would be 200K CORE
• Between $10M and $20M TVL the measured month, the prize pool would be 150K CORE
• Between $5M and $10M TVL in the measured month, the prize pool would be 100K CORE
• $5M TVL in the measured month, the prize pool would be 25K CORE

Reward Distribution

• Applicant projects are required to maintain transparent and easy to access performance data like properly registered and maintained data on Defillama or DappRadar, so that metrics such as the number of active users, transaction volumes, and TVL can be evaluated.
• Winners will receive 50% of any amounts earned under this program within 2 weeks of each monthly activity period.
• They must maintain that particular month’s TVL levels, with reductions no less than 15%, until the next calendar month, for the full reward.
• At the end of each monthly activity period, distributions to participants will be based on TVL increases during the period, with participants receiving a share proportional to their standing in the competition.
• 1st prize: 20% of the total prize pool
• 2nd prize: 17% of the total prize pool
• 3rd prize: 15% of the total prize pool
• 4th prize: 13% of the total prize pool
• 5th prize: 11% of the total prize pool
• 6th prize: 9% of the total prize pool
• 7th prize: 6% of the total prize pool
• 8th prize: 4% of the total prize pool
• 9th prize: 3% of the total prize pool
• 10th prize: 2% of the total prize pool
• The total prize pool for each monthly activity period varies depending on the final amount of the combined total TVL increase during each monthly activity period, as described above.

Example Reward Distribution

For instance, if during a monthly activity period, the top 10 projects with the highest incremental TVL are as follows:

• Project A: $30M Incremental TVL
• Project B: $25M Incremental TVL
• Project C: $22M Incremental TVL
• Project D: $20M Incremental TVL
• Project E: $18M Incremental TVL
• Project F: $15M Incremental TVL
• Project G: $11M Incremental TVL
• Project H: $10M Incremental TVL
• Project I: $8M Incremental TVL
• Project J: $5M Incremental TVL

Based on this,

• Total Combined TVL increased = >30M (30+25+22+20+18+15+11+10+8+5)
• Prize Pool = 200K CORE

Prize distribution would be:

• 1st prize: 20% of 200,000 = 200,000 x 0.2 = 40,000
• 2nd prize: 17% of 200,000 = 200,000 x 0.17 = 34,000
• 3rd prize: 15% of 200,000 = 200,000 x 0.15 = 30,000
• 4th prize: 13% of 200,000 = 200,000 x 0.13 = 26,000
• 5th prize: 11% of 200,000 = 200,000 x 0.11 = 22,000
• 6th prize: 9% of 200,000 = 200,000 x 0.09 = 18,000
• 7th prize: 6% of 200,000 = 200,000 x 0.06 = 12,000
• 8th prize: 4% of 200,000 = 200,000 x 0.04 = 8,000
• 9th prize: 3% of 200,000 = 200,000 x 0.03 = 6,000
• 10th prize: 2% of 200,000 = 200,000 x 0.02 = 4,000

So, the prize distribution will be:

• 1st prize (Project A): 40,000 CORE
• 2nd prize (Project B): 34,000 CORE
• 3rd prize (Project C): 30,000 CORE
• 4th prize (Project D): 26,000 CORE
• 5th prize (Project E): 22,000 CORE
• 6th prize (Project F): 18,000 CORE
• 7th prize (Project G): 12,000 CORE
• 8th prize (Project H): 8,000 CORE
• 9th prize (Project I): 6,000 CORE
• 10th prize (Project J): 4,000 CORE

2.DAU Performance

DAU Measurement

Minimum Requirements: Projects must follow the following base requirements to qualify for DAU performance incentive:

• Maintain an average of at least 10 Daily Active Users (DAU) in the last 7 days leading up to the application.
• For new projects deployed the baseline DAU is 0. We consider a project to be “new” if it has launched a fully working set of contracts, exposed to end users for use and participation, on Core Chain at least one month prior to the announcement date of this program.

Winner Determination Calculation: To measure the DAU performance of an applicant project the following metrics will be considered:

• Baseline DAU: Average DAU in the 7 days till the application date.
• Incremental DAU: Average DAU during the activity period minus the Baseline

Participants will receive rewards based on the aggregate ranking of the 2 factors, by adding their values together:

• Average DAU during the monthly activity period
• Incremental DAU during the monthly activity period *Note that here the activity period refers to a 1-month period, as rewards will be based on monthly performance.

The weighting ratio for these factors will be distributed as follows: Applicant projects are required to maintain transparent and easy to access mechanisms like properly registered and maintained data on Defillama or DappRadar, so that metrics such as the number of active users, transaction volumes, and TVL can be evaluated.

Dynamic Total DAU Prize Pool

The prize pool will be dynamic based on the Incremental DAU (Daily Active Users) of the top 10 participants during the monthly activity period, with a maximum prize pool of 150K CORE. Below are the thresholds at which the total DAU category prize pool increases:

• More than 500K total number of Incremental DAU that month, the prize pool would amount to 100K CORE
• Between 300K and 500K total number of Incremental DAU that month, the prize pool would amount to 75K CORE
• Between 100K and 300K total number of Incremental DAU that month, the prize pool would amount to 50K CORE
• Between 50K and 100K total number of Incremental DAU that month, the prize pool would amount to 25K CORE

Formula for DAU Score Calculation = Ranking of average DAU 60% + Ranking of Increment DAU x 40%

Reward Distribution

• Applicant projects are required to maintain transparent and easy to access mechanisms like properly registered and maintained data on Defillama or DappRadar, so that metrics such as the number of active users, transaction volumes, and TVL can be evaluated.
• Winners will receive 50% of any amounts earned under this program within 2 weeks of each monthly activity period.
• They must maintain that particular month’s DAU levels, with reductions no less than 15%, until the next calendar month, for the full reward.
• At the end of each monthly activity period, distributions to participants will be based on DAU increases during the period, with participants receiving a share proportional to their standing in the competition.
• 1st prize: 20% of the total prize pool
• 2nd prize: 17% of the total prize pool
• 3rd prize: 15% of the total prize pool
• 4th prize: 13% of the total prize pool
• 5th prize: 11% of the total prize pool
• 6th prize: 9% of the total prize pool
• 7th prize: 6% of the total prize pool
• 8th prize: 4% of the total prize pool
• 9th prize: 3% of the total prize pool
• 10th prize: 2% of the total prize pool
• The total prize pool for each monthly activity period varies depending on the final amount of the combined total DAU increase during each monthly activity period, as described above.

Example Reward Distribution

For instance, if during a monthly activity period, the top 10 projects with the highest incremental DAU are as follows:

• Project A: 30K Incremental DAU and Average DAU = 4285
• Project B: 25K Incremental DAU and Average DAU = 3570
• Project C: 22K Incremental DAU and Average DAU = 3140
• Project D: 20K Incremental DAU and Average DAU = 2860
• Project E: 18K Incremental DAU and Average DAU = 2570
• Project F: 15K Incremental DAU and Average DAU = 2140
• Project G: 11K Incremental DAU and Average DAU = 1570
• Project H: 10K Incremental DAU and Average DAU = 1400
• Project I: 8K Incremental DAU and Average DAU = 1140
• Project J: 5K Incremental DAU and Average DAU = 700

Based on this,

Total Combined DAU increased = >100K～300K (30+25+22+20+18+15+11+10+8+5=164K) Prize Pool = 50K CORE

DAU Scoring for Top 5 Projects:

• Project A = (1 x 60%) + (1 x 40%) = 0.6 + 0.4 = 1
• Project B = (2 x 60%) + (2 x 40%) = 1.20 + 0.80 = 2
• Project C = (3 x 60%) + (3x 40%) = 1.80 + 1.20 = 3
• Project D = (4 x 60%) + (4 x 40%) = 2.40 + 1.60 = 4
• Project E = (5 x 60%) + (5 x 40%) = 3.00 + 2.00 = 5
• Project F = (6 x 60%) + (6 x 40%) = 3.6 + 2.4 = 6
• Project G = (7 x 60%) + (7 x 40%) = 4.2 + 2.8 = 7
• Project H = (8 x 60%) + (8 x 40%) = 4.8 + 3.2 = 8
• Project I = (9 x 60%) + (9 x 40%) = 5.4 + 3.6 = 9
• Project J = (10 x 60%) + (10 x 40%) = 6.00 + 4.00 = 10

Prize distribution would be:

• 1st prize: 20% of 50,000 = 50,000 x 0.2 = 10,000
• 2nd prize: 17% of 50,000 = 50,000 x 0.17 = 8,500
• 3rd prize: 15% of 50,000 = 50,000 x 0.15 = 7,500
• 4th prize: 13% of 50,000 = 50,000 x 0.13 = 6,500
• 5th prize: 11% of 50,000 = 50,000 x 0.11 = 5,500
• 6th prize: 9% of 50,000 = 50,000 x 0.09 = 4,500
• 7th prize: 6% of 50,000 = 50,000 x 0.06 = 3,000
• 8th prize: 4% of 50,000 = 50,000 x 0.04 = 2,000
• 9th prize: 3% of 50,000 = 50,000 x 0.03 = 1,500
• 10th prize: 2% of 50,000 = 50,000 x 0.02 = 1,000

So, the prize distribution will be:

• 1st prize (Project A): 10,000 CORE
• 2nd prize (Project B): 8,500 CORE
• 3rd prize (Project C): 7,500 CORE
• 4th prize (Project D): 6,500 CORE
• 5th prize (Project E): 5,500 CORE
• 6th prize (Project F): 4,500 CORE
• 7th prize (Project G): 3,000 CORE
• 8th prize (Project H): 2,000 CORE
• 9th prize (Project I): 1,500 CORE
• 10th prize (Project J): 1,000 CORE

3.Transaction Count Performance

Number of Transactions Measurement

To measure the transaction count performance of an applicant project the following metrics will be considered:

• Baseline Transaction Count: Average Transaction Count in the 7 days till the application date.
• Incremental Transaction Count: Average Transaction Count during the activity period minus the Baseline

Dynamic Total Number of Transactions Prize Pool

The prize pool will be dynamic based on the total number of transactions across project participants during the monthly activity period, with a maximum prize pool of 100K CORE available for distribution for the number of transactions under this program. The top 10 projects with the highest Incremental Transaction Count during each monthly activity period will be awarded prizes from a dynamic prize pool of up to 100K CORE. Below are the thresholds at which the total number of transactions category prize pool increases:

For example, if Transaction Count increased by:

• 40M+ that month, the prize pool would be of 100K CORE
• Between 30M and 40M that month, the prize pool would be of 80K CORE
• Between 20M and 30M that month, the prize pool would be of 60K CORE
• Between 10M and 20M that month, the prize pool would be of 40K CORE
• Between 5M and 10M that month, the prize pool would be of 20K CORE Where, 40M is the highest and 5M is the minimum cap for Transaction Count

Reward Distribution

• Applicant projects are required to maintain transparent and easy to access mechanisms like properly registered and maintained data on Defillama or DappRadar, so that metrics such as the number of active users, transaction volumes, and TVL can be evaluated.
• Winners will receive 50% of any amounts earned under this program sent to their wallet within 2 weeks of each monthly activity period. They must maintain that particular month’s number of transactions, with reductions no less than 15%, until the next calendar month, for the full reward..
• At the end of each monthly activity period, the distribution will be based on incremental Transaction Count rankings, with participants receiving a share proportional to their standing in the competition.
• 1st prize: 20% of the total prize pool
• 2nd prize: 17% of the total prize pool
• 3rd prize: 15% of the total prize pool
• 4th prize: 13% of the total prize pool
• 5th prize: 11% of the total prize pool
• 6th prize: 9% of the total prize pool
• 7th prize: 6% of the total prize pool
• 8th prize: 4% of the total prize pool
• 9th prize: 3% of the total prize pool
• 10th prize: 2% of the total prize pool

Example Reward Distribution

For instance, if during a monthly activity period, the top 10 projects with the highest Transaction Count are as follows:

• Project A: 25M
• Project B: 22M
• Project C: 20M
• Project D: 18M
• Project E: 15M
• Project F: 12M
• Project G: 10M

Based on this,

• Total Combined Transaction Count = >=40M (25+22+20+18+15+12+10+8+5+3 = 138M)
• Prize Pool = 100K CORE

Prize distribution would be:

• 1st prize: 20% of 100,000 = 100,000 x 0.2 = 20,000
• 2nd prize: 17% of 100,000 = 100,000 x 0.17 = 17,000
• 3rd prize: 15% of 100,000 = 100,000 x 0.15 = 15,000
• 4th prize: 13% of 100,000 = 100,000 x 0.13 = 13,000
• 5th prize: 11% of 100,000 = 100,000 x 0.11 = 11,000
• 6th prize: 9% of 100,000 = 100,000 x 0.09 = 9,000
• 7th prize: 6% of 100,000 = 100,000 x 0.06 = 6,000
• 8th prize: 4% of 100,000 = 100,000 x 0.04 = 4,000
• 9th prize: 3% of 100,000 = 100,000 x 0.03 = 3,000
• 10th prize: 2% of 100,000 = 100,000 x 0.02 = 2,000

So, the prize distribution will be:

• 1st prize (Project A): 20,000 CORE
• 2nd prize (Project B): 17,000 CORE
• 3rd prize (Project C): 15,000 CORE
• 4th prize (Project D): 13,000 CORE
• 5th prize (Project E): 11,000 CORE
• 6th prize (Project F): 9,000 CORE
• 7th prize (Project G): 6,000 CORE
• 8th prize (Project H): 4,000 CORE
• 9th prize (Project I): 3,000 CORE
• 10th prize (Project J): 2,000 CORE

DISCLAIMER

The terms and details contained herein are subject to change at any time, with or without notice and remain subject at all times to the Core Chain Builder Incentive Plan Terms and Conditions available here. There can be no assurance that any of the items related to the Core network will occur as described or will occur at all. Similarly, there can be no assurance that the network or any of the items related to the Core network will operate as described, operate without significant downtimes or without adverse consequences, or operate at all. Core Foundation and all related parties and affiliates disclaim any and all potential liability from any such failures, adverse events or any other related events.

Any distribution of tokens or virtual assets is available only to persons who are not residents of, domiciled in, or are otherwise citizens, visa, or green-card holders of the United States, Canada, or jurisdictions subject to sanction administered by the United States Office of Foreign Assets Control (“OFAC”). Similarly, distributions of tokens or other virtual assets are not available to any person listed under any sanctioned administered by OFAC or any other United States government authority, is designated as a “specially designated national or “blocked person” by OFAC or subject to any similar sanctions or measures imposed or administered by the United Nations Security Council, the European Union, Her Majesty’s Treasury of the United Kingdom or similar sanctions administered or imposed by any other country.

Any distribution is subject to all applicable local laws, rules and regulations of the applicable jurisdiction. Each recipient shall determine which laws, rules, and regulations are applicable to them and shall undertake all necessary efforts to comply with all such obligations. Core Foundation and its affiliates make no representation of the legal status of any distribution of tokens or virtual assets under any jurisdiction and any such distribution is void where prohibited. Furthermore, nothing in this post should be construed as advice of any kind, including legal, business, investment or tax advice. Any distribution hereunder does not constitute an offer to sell or the solicitation of an offer to purchase any investment.