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BNB Chain Launches MEME Innovation #4: Compete For $200K Prize Pool Up To $100K In LP Support - Chainwire

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17Oct

BNB Chain Launches MEME Innovation #4: Compete For $200K Prize Pool Up To $100K In LP Support

Dubai, UAE, October 17th, 2024, Chainwire

BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain by daily transactions, is excited to announce the launch of “Meme Innovation Battle Round 4” with a $200,000 prize pool. In addition, up to $100,000 in LP support is up for grabs for participants who create the most creative, viral, and strategic meme coin as part of the current $900k liquidity pool program. This initiative aims to foster the growth of new meme coins within the ecosystem, aligning with BNB Chain’s vision of supporting developers and startups to reach cross the chasm and its mission to onboard the next billion Web3 users. 

How to Participate:

  1. Launching a Meme Coin: Users should launch their meme coin using any meme coin launchpad or by writing their own contract, ensuring the coin is released after October 18, 2024.
  2. Creating a Social Presence: Participants must create a Twitter account and community for their meme.
  3. Submitting an Application: Users should submit their application here. Upon submission, meme data will be displayed on the leaderboard the following day.
  4. Meeting LP Winner Conditions: To compete for the LP Winner spot, participants must meet the following conditions:
  • Locking 100% of the LP liquidity for at least one year or sending it to a null address.
  • Adding 10% of the total token supply to the LP.
  • Ensuring the top 10 externally owned account holders hold less than 10% of the total supply and encouraging these stakeholders to lock or vest their funds over time.
  1. Checking Rankings: Participants can check their ranking in real-time on the leaderboard.
  2. Checking Rankings: Participants begin their journey to becoming a “meme hero” by entering the competition.

The competition is divided into four rounds, taking place every two weeks. There is $50,000 per round, with $200,00 in total. Round 1 will run from October 22, 2024, 00:00 UTC to November 4, 2024, 23:59 UTC. Round 2 follows from November 5, 2024, 00:00 UTC to November 18, 2024, 23:59 UTC. Round 3 will be held from November 19, 2024, 00:00 UTC to December 2, 2024, 23:59 UTC. Finally, Round 4 will occur from December 3, 2024, 00:00 UTC to December 16, 2024, 23:59 UTC.

MEMEs participating in the competition will be ranked based on liquidity, average trading volume, active accounts, market capitalization, and LP qualification. The final rewards will be distributed based on each meme coin’s liquidity pool performance score. The indicators, weights, and formulas can be found here.

To qualify for a top 3 prize, memes must have a daily trading volume of over $1M and more than 5,000 active accounts. More information about eligibility and how to participate can be found here. Developers and meme projects are encouraged to submit their applications here. Further details can be found here.

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 a range of monetary and ecosystem rewards as part of its Builder Support Program.

For more, users can follow BNB Chain on X or start exploring via our Dapp library.