BNB Chain announced its plan to allocate up to $1 million as rewards for eligible memecoins developers who deploy their memecoin projects on the network.
BNB Chain announced its plan to allocate up to $1 million as rewards for eligible memecoins developers who deploy their memecoin projects on the network. The initiative is part of BNB Chain's broader efforts to foster the growth of the memecoin landscape within its blockchain. Interested developers are invited to participate in the network's "Meme Innovation Campaign" and deploy their tokens on the platform during the campaign period, which is set to run from April 10 to May 9.
According to BNB Chain, the competition aims to encourage creative innovation within its community. The company stated that the campaign is a platform for empowering creators, including both experienced developers and newcomers, to utilize blockchain technology in bringing their ideas to life.
While the competition may appear straightforward, meeting the eligibility requirements could pose challenges for participants. Memecoins must achieve a minimum trading volume of $2 billion to qualify for the lowest reward tier. Tokens with trading volumes surpassing $30 billion become eligible for the $1 million prize.
In addition to the trading volume criteria, participants must fulfill other requirements, such as completing at least one security audit and open-sourcing their projects on BNB Smart Chain's blockchain explorer, BscScan. The project must also have over 1,000 valid new token holders and maintain a presence on social media platforms like Telegram and Discord.
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