Discover the thrilling world of meme coins with BNB Chain's latest announcement: The Meme Innovation Battle, promising an extraordinary reward pool of up to $1 million!
This event aims to bring together creative minds and developers in the meme coin sector, offering an unparalleled opportunity to showcase innovation and potentially reap significant rewards.
Learn about the contest criteria, the innovative reward structure based on trading volume, and how you can be a part of this exciting venture. The cryptocurrency sphere is buzzing with anticipation – will this be the catalyst for the next meme coin boom?
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BNB Chain Meme Innovation Battle Set to Launch
BNB Chain has announced the launch of a meme coin event called "BNB Chain Meme Innovation Battle" on April 2, 2024, offering rewards of up to $1 million.
Attracting Meme Coin Developers with Up to $1 Million in Rewards
The "BNB Chain Meme Innovation Battle" is a contest aimed at attracting meme coin developers, offering up to $1 million in rewards to be shared among developers who create meme coins on the BNB chain and reach certain trading milestones.
Although there are specific criteria for participation, it is possible for new developers in the meme coin sector to participate if they meet these criteria. Even if their meme coin has not been deployed on the BSC yet, they can still enter the contest if they deploy before the campaign ends.
Reward Pool Varies Based on Total Trading Volume
The reward pool is determined by the total trading volume of meme coins during the period, with rewards varying as follows based on the total trading volume over 30 days:
| Total meme coin transactions (USDT) over 30 days | Reward |
|---|---|
| 2 billion to 5 billion USDT | $100,000 |
| 5 billion to 15 billion USDT | $300,000 |
| 15 billion to 30 billion USDT | $600,000 |
| Over 30 billion USDT | $1,000,000 |
Meme Coins Evaluated on Three Criteria
The prepared rewards will be distributed to eligible participants based on three category rankings, with meme coins being evaluated based on the following weightings:
| Total trading volume | 50% |
| Number of valid meme coin holders | 40% |
| Market capitalization | 10% |
Event Schedule
The schedule for the "BNB Chain Meme Innovation Battle" is as follows:
| Application period | Until April 9, 2024, 23:59 (UTC) |
| Competition period | From April 10, 2024, 00:00 to May 9, 2024, 23:59 (UTC) |
| Top 10 announcement | From May 10, 2024, to May 15, 2024, 23:59 (UTC) |
| Results announcement | May 16, 2024 |
| Reward distribution | Within 3 weeks after the event concludes |
Interest in meme coins within the cryptocurrency industry is on the rise, and recently, the Avalanche Foundation also started supporting meme coins. This series of initiatives could further accelerate the meme coin boom in the future.
>> For the latest articles on meme coins, click here.
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