BNB Chain Announces CoCo Coin ($COCO) as Latest Winner of Meme Heroes LP Support Program
Dubai, UAE, October 8th, 2024, Chainwire
BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain by daily active users (DAU), has announced the latest winner from the third round of its “Meme Heroes” LP support program. Built to accelerate meme coin innovation and support, and further develop and grow promising meme projects, BNB Chain has awarded liquidity pool (LP) support to CoCo Coin ($COCO) as part of the Meme Innovation program.
CoCo Coin ($COCO) is a SocialFi blockchain project built on BNB Smart Chain, designed to create a social ecosystem through varying crypto investment opportunities and social media interactions. CoCo Coin stands out for its airdrop events, which have helped cultivate a strong and active community. CoCo Coin will receive $50,000 in LP support.
The selection process for the third phase of the Meme Heroes support program adhered to several stringent criteria. Projects were required to lock 100% of their LP liquidity for a minimum of one year or transfer it to a null address. Additionally, they needed to allocate 10% of their total token supply to the LP. Ownership distribution was also a key factor, with the top 10 externally owned accounts (EOAs) needing to hold less than 10% of the total supply. Stakeholders were encouraged to lock or vest their funds over time. Furthermore, projects had to verify their token source code on BscScan or undergo a security audit. Other considerations included trading volume, number of token holders, and market capitalization.
BNB Chain acknowledges the role memecoins play in introducing new users to Web3, aligning with its mission to onboard the next billion users into the space. Through the Meme Heroes initiative, BNB Chain is committed to supporting memecoin projects that offer utility, and help them achieve their business goals.
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About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:
- BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
- opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
- BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.
Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers opportunities for a range of monetary and ecosystem rewards as part of its Builder Support Program.
For more, readers can follow BNB Chain on X or start exploring via the Dapp library.
