Open League kicks off its inaugural season on April 1st, aiming to distribute $115 million worth of Toncoin over a month.
Ahead of the inaugural season of The Open League, the TON ecosystem is already witnessing growth metrics that have exceeded expectations. This innovative monthly competition is designed to incentivize participation from its projects and users alike, fostering a vibrant and thriving community. Within just two weeks, the total value locked (TVL) across the ecosystem surged by an impressive 70%. Even more remarkable is the 370% spike in daily active wallets over the same period. These figures show the immense potential of the project to drive adoption and engagement within its ecosystem.
Open League kicks off its inaugural season on April 1st, aiming to distribute $115 million worth of Toncoin over a month. Four systems will help in distributing the coin to each participant within the TON community. These frameworks tailored to cater for each diverse participant within the Telegram community are The League, Token Mining, Quests and Airdrops, and Liquidity Pool Boosts. Each structure is for a different style of character in the community: the degen dev, the n00bie normies, the degenerate dabblers, and the CHAD. The system is staged in such a way that Web3 projects compete for a substantial $5 million Toncoin prize pool. Divided into the Major League divisions, real-time leaderboards are provided to provide transparency and fuel the competitive spirit.
Notably, winning projects have the autonomy to either retain the prize or distribute it among their respective communities, fostering a sense of shared success and incentivizing community-centric development.
Incentivizing Diverse Participation through Token Mining, Quests & Airdrops and Boosted Liquidity Pools
Token mining is designed as an easy entry point for newcomers to the TON ecosystem. Developers are encouraged to create straightforward mining mechanisms utilizing their tokens, enabling users to earn rewards through active participation. Successful examples like Notcoin, Pixels, and Catizen have demonstrated the power of well-executed incentives and referral programs, attracting millions of users without incurring substantial marketing costs.
Quests and Airdrops cater to Degen Dabblers within the TON community. By completing on-chain activities and challenges within the Community Bot, participants earn coveted Soul Bound Tokens – collectibles with potential future value. Additionally, spontaneous airdrops, or free token distributions, can occur, further incentivizing engagement.
For the more experienced participants, tagged “CHADs”, liquidity Pool Boosts offer an opportunity to make high rewards. Major League projects receive a 50,000 Toncoin boost, while Minor League projects receive 5,000 of the same coin, enabling liquidity providers to amplify their earnings by earning additional coins on top of collected fees. To access this the community in a release stated:
“We already made CHADs pretty easy to figure out; you’ll find all the boosted pools through the Open League Mini App. Yes, it’s just an app inside Telegram.”
In a way to advise the newcomer to tread with caution, the liquidity provider warned the n00bie normie and degen dabbler to continue with mining until they are confident enough to enter the liquidity pool community.
“LPs take some getting used to and carry some significant risks of losing it all! So if you’re a n00bie normie or a degen dabbler, just stick to your token mining and quests. You’ll know when you’re ready,” the release revealed.