How to Take Part in the Open League Season 1?
The TON Foundation has launched a new season of the Open League with a 30 million Toncoin reward pool. Read our guide to find out how to be a part of this competition.
On the 1st of April, the TON Foundation announced The Open League Season 1. Following the pilot season that witnessed a remarkable engagement, the TON Foundation has unveiled a new season with the promise of distributing 30 million Toncoin as a reward.
This season's competition is structured around four main components: league competitions, token mining activities, quests, and distribution efforts, alongside an enhancement of the liquidity pool. Spanning three months, the league will feature three separate seasons, each lasting a month, with plans to extend this engaging competition over the next two years, according to the Ton Foundation blog post.
The pilot season of the Open League resulted in a 70% increase in TVL (Total Value Locked) and a 370% surge in daily active wallets. The subsequent launch of another TON initiative further fueled the growth of the Toncoin (TON) project token. Data from CoinMarketCap highlights the coin's continued strong performance, with a nearly 50% increase in the last 7 days to $7.49 at the time of writing.
About Open League Seasons
The Open League (TOL) is a competition for both projects and users within the TON Ecosystem. The goal of the competition is bringing in new and consistent users for TON, while also offering rewards to users for their active participation. Its primary goal is to enhance user engagement across the ecosystem, support projects in broadening their user base, and encourage the creation of products that are both appealing and practical, especially for the vast audience on Telegram.
Each season of The Open League is thoughtfully structured to improve users' Web3 skills and knowledge, prompting them towards utilizing TON projects through attractive incentives. The progression each month introduces participants to an ascending level of challenges through quests, beginning with simple introductory activities and advancing in complexity. All the quests for a particular level are combined into one comprehensive master quest, with each project contributing one quest at each level.
Source & Copyright: Ton Foundation Blog Post
After every season, two projects showing promising growth are promoted from the Minor League to the Major League, while two projects that didn't perform as well are demoted to a lower league. The projects that come out on top then have the liberty to decide how they wish to utilize their winnings.
Open League Season 1: How to Take Part?
The are three ways to earn from The Open League
Source & Copyright: Ton.org
Beginner Level
Perfect for newcomers, start your journey into token mining. Engage in simple activities like tapping or logging in daily, and boost your earnings by inviting friends to join. Each project introduces easy yet captivating tasks for you. To explore free ecosystem tokens, check out Arbuz Clicker, Kingy GM bot, Catizen, and Pixels. Start here with this link.
Intermediate Level
Keep an eye out for upcoming Quests and stay active on the chain to be eligible for airdrops. The Ton community has launched a Prediction contest. In this fresh contest, you're tasked with selecting and ordering the top five teams you believe will shine this season in The Open League. Simply link your wallet containing at least 5 Toncoin and make your forecasts.
How to Join:
First you need go the Open League Bot and open Predict.
- Ensure your wallet is connected and has a minimum of 5 Toncoin.
- Pick your top 5 teams, predicting their standings at the end of the season.
- For each team you choose, complete a specific quest available in The Open League bot.
- Just confirm your prediction by sending an empty transaction to the designated address.
Here are the potential rewards
Source & Copyright: Ton Foundation Blog
Advanced Level
Enhance your earnings by becoming a liquidity provider. Contribute your liquidity to a pool on a Decentralized Exchange (DEX) and observe the growth of your assets.
Visit Open League Bot to start.
Selecting a Project: First, pick a project you're interested in from the Token Major League Competition. Make your choice based on the project's details or the estimated annual percentage yield (APY).
Acquiring Tokens: Acquire both the project token and Toncoin. If you lack the necessary tokens, consider purchasing them through wallets, swapping on DEXs like DeDust or STON.fi, or transferring them from other networks through a bridge.
Contributing to a Liquidity Pool: Deposit both TON and the project's tokens into a liquidity pool. The specific DEX for your chosen project’s pool, is either DeDust or STON.fi, operates on the TON blockchain.
Watching Your Investment: Be aware that reward amounts can fluctuate rapidly due to market dynamics. You may experience impermanent loss if the value of the assets in your pool diverges.
Collecting Your Rewards: By providing liquidity, you'll start receiving rewards in both Toncoin and the project tokens. The greater your contribution to the pool, the more substantial your rewards will be.
For a more detailed guide refer to this video instruction prepared by the The Ton Foundation.
Final Words
The Open League caters to users from diverse backgrounds, offering tasks of varying complexity, ensuring that there's something for everyone. However, as always, we urge you to exercise caution. Always conduct your own research and critically assess your capabilities before diving in.
