For the sake of the Holy Prophet (Sallallahu alaihi wa sallam), Allah Ta'ala has graced this Ummah with His boundless benevolence, upon being thankful for which, the Lord Almighty has promised to increase His bounties even more.  The blessed month of Ramadhan is also one among these priceless bounties of Allah Ta'ala.  The doors of Allah’s mercy are kept open this month and the worshippers of Allah Ta'ala freely benefit from it.  Allah Ta’ala has selected Ramadhan for the revelation of His Word, the Holy Quran.  Accordingly, He has also shown His preference for this month over other months by mentioning its name in the Holy Quran.

شَهْرُ رَمَضَانَ الَّذِي أُنْزِلَ فِيهِ الْقُرْآنُ هُدًى لِلنَّاسِ وَبَيِّنَاتٍ مِنَ الْهُدَى وَالْفُرْقَان- 

The month of Ramadan in which was revealed the Qur'an, a guidance for mankind, and clear proofs of the guidance, and the Criterion (of right and wrong).  Surah Al Baqarah (2:185) 

With the coming of the month of Ramadhan, Allah Ta’ala floods the world with His mercy.  The doors of the sky are opened.  The doors of Jannah are opened.  The devils are chained.  (Sahih Bukhari, Hadith No. 2548).  In this way, an atmosphere conducive to piety is created.  Now every night, a special announcement is made for for those who resolve to perform virtuous acts:  O you who desire good!  Go ahead with good deeds.  For those who desire transgressions, it is said: O you who desire evil!  Refrain from evil.  (Jame' Tirmidhi, Hadith No. 648). 

In spite of being self-sufficient, only as generosity for the worshippers, a call is given from the court of Allah Ta'ala:  Is there anyone who supplicates that his supplication be accepted?  Is there anyone who desires Maghfirah (forgiveness) that he (or she) may be forgiven?  Is there anyone who repents that his repentance be accepted?  (Sahih Muslim, Hadith No. 1810)

With the coming of Ramadhan itself, there is a gush in Allah’s mercy.  Allah’s mercy is manifested everywhere.  The Holy Prophet (Sallallahu alaihi wa sallam) is the mercy of Allah Ta'ala for the whole universe and as such, every moment, Allah’s mercy is expressed through Him.  Granting the mercy of the Lord to the Ummah, apart from the Fardh fasts of Ramadhan, the Holy Prophet (Sallallahu alaihi wa sallam) also decreed other forms of worship like Taraweeh, Itikaaf and exhorted the Ummah to give charity.  He instructed the Ummah to recite the Holy Quran and listen to it and gave glad tidings of great reward on the performance of all these acts.  All these actually mirror the affection and generosity of the Holy Prophet (Sallallahu alaihi wa sallam) on this Ummah.  One among the blessed attributes of the Holy Prophet (Sallallahu alaihi wa sallam) is His generosity and benevolence.  In the month of Ramadhan, the Holy Prophet (Sallallahu alaihi wa sallam) became even more generous.  There is a Hadith in Sahih Bukhari:

عَنْ ابْنِ عَبَّاسٍ قَالَ كَانَ رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَسَلَّمَ أَجْوَدَ النَّاسِ وَكَانَ أَجْوَدُ مَا يَكُونُ فِي رَمَضَانَ حِينَ يَلْقَاهُ جِبْرِيل-

Translation: It has been narrated on the authority of Hadhrat Abdullah bin Abbas (May Allah be well pleased with him) that the Holy Prophet (Sallallahu alaihi wa sallam) was the most generous of all and His generosity would be at its highest point in the month of Ramadhan, when Jibreel (peace be upon him) would come to Him.  Each night of Ramadhan, Jibreel (May peace be upon him) would come and recite the Holy Quran.  Verily, the generosity of the Holy Prophet (Sallallahu alaihi wa sallam) is more than the winds which benefit.  (Sahih Bukhari, Vol 1, Pg No: 3) 

Imam Baihaqi has recorded a Hadith in his Shu'ab Ul Iman:

عن ابن عباس ، قال كان رسول الله صلى الله عليه وسلم إذا دخل شهر رمضان أطلق كل أسير ، وأعطى كل سائل-

Translation: It has been narrated on the authority of Hadhrat Abdullah bin Abbas (May Allah be well pleased with him), he said: When the month of Ramadhan came, the Holy Prophet (Sallallahu alaihi wa sallam) released every prisoner and would give to everyone who asked.  (Baihaqui, Shu’ab Ul Iman, Hadith No: 3475)

Allah Ta'ala has made the fasts of Ramadhan Fardh (obligatory).  Its rules have been briefly mentioned in the Holy Quran and left the details and interpretation of them to the Holy Prophet (Sallallahu alaihi wa sallam).  Allah Ta'ala has given full authority to the Holy Prophet (Sallallahu alaihi wa sallam) to specify the rules and decide their reward.  As the Holy Prophet (Sallallahu alaihi wa sallam) is the most generous in Ramadhan, He (Sallallahu alaihi wa sallam) decreed special forms of worship in Ramadhan and gave glad tidings of special reward on their performance. 

The reward of an optional (Nafl) is equal to that of an obligation (Fardh), the reward of a Fardh is increased seventy-fold; the reward for providing means to a fasting person to break the fast is a drink from the Houz e Kouthar.  There is promise to increase a Momin's sustenance (Rizq) (Shu‘abul Iman, Hadith No. 3455).  Those who perform Itikaaf are rewarded for other virtuous acts, etc. (Zujajatul Masabeeh, Vol. 1, Pg. No. 590) 

The special reward for these virtuous acts of Ramadhan has been mentioned in the Hadith only.  No verse of the Holy Quran mentions this.  This is only the generosity of the Holy Prophet (Sallallahu alaihi wa sallam) and the result of His benevolence.  A special virtuous act in Ramadhan is Taraweeh.