THENA, as the annual sponsor of the BNB Chain Innovation Hackathon, is proud to introduce a unique challenge for Q2 of 2024, centered around ARENA, our innovative social hub set for release in the coming weeks.
THENA ARENA is designed to redefine the social layer of digital asset trading through permissionless and customizable trading competitions (and more!), promoting engagement and community GROWTH.
THE Challenge
The challenge for participants is to conceptualize and build a prototype for a points system integrated with THENA ARENA. This system aims to incentivize and reward users for their contributions to the platform’s success. Key activities include active trading (generating fees), liquidity provision, and engagement in platform activities, along with participation in off-platform campaigns like THENA’s Zealy initiative.
Objectives
- Incentivize Participation: Encourage users to engage actively with the platform through trading, liquidity provision, and other value-adding activities.
- Reward Comprehensive Engagement: Develop a system that not only rewards on-platform activities but also recognizes and rewards contributions made through off-platform engagements.
- Promote Community Growth: Foster a sense of community and belonging by rewarding contributions that support the platform’s growth and success.
- Enhance the network effect of ARENA notably to onboard and retain non-BNB chain communities on the platform
Requirements
Innovative Point Allocation: Propose a unique and fair method for allocating points based on user activities, ensuring that the system rewards both the quantity and quality of engagement.
Integration with Off-Platform Activities: Include a mechanism to incorporate and reward participation in THENA’s off-platform campaigns, such as the Zealy campaign, into the points system.
Scalability and Security: Ensure that the proposed system is scalable and secure, capable of supporting a growing user base and protecting against potential abuses.
Prototype: Develop a working prototype that demonstrates the functionality of the proposed points system, including any interfaces or algorithms necessary for implementation.
Evaluation Criteria
- Innovation and Creativity: Originality of the approach in incentivizing and rewarding platform engagement.
- Effectiveness: Ability of the points system to motivate desired user behaviors and support platform growth.
- Feasibility: Practicality of implementing the proposed system within the ARENA ecosystem.
- User Experience: Clarity and intuitiveness of the user interface, if applicable, and the overall user experience.
Submission Guidelines
- Detailed proposal outlining the proposed points system, including technical specifications and a clear explanation of how it incentivizes and rewards user activities.
- Prototype demonstrating the core functionalities of the points system.
- Presentation or video walkthrough explaining the proposal and prototype.
See the BNB Chain Blog for relevant links and deadlines.
Rewards
The winning team(s) will receive a share of a $15,000 rewards pool, alongside the opportunity to see their concept explored for implementation within THENA ARENA.
Building THE Foundation for DeFi on BNB
With this hackathon, we’re setting the stage for a more inclusive, engaging, and vibrant DeFi ecosystem on BNB Chain. The challenge represents a unique opportunity for developers, creators, and visionaries to contribute to our platform where THE community truly drives value and growth.
For any queries or further information, please contact https://t.me/Apollo_Fi.
