BNB Chain Launches Reward Fund to Encourage Memecoin Projects on its Network
BNB Chain, a blockchain specializing in smart contracts, is making a bold move to attract developers and traders of memecoins, which are gaining popularity in the crypto ecosystem. The chain has announced a reward fund of up to $1 million for developers who can deploy their memecoin projects on its network.
Boosting the Memecoin Space on BNB Chain
The operation, named ‘Meme Innovation Campaign,’ invites creators to register and launch their tokens on BNB Chain between April 10th and May 9th. This competition aims to encourage innovation and creativity within the community, by incentivizing the use of blockchain technology to bring original ideas to life.
However, participants will have to meet demanding criteria to be eligible for rewards, such as achieving a minimum trading volume of $2 billion for the lowest reward, and over $30 billion for the grand prize of one million dollars.
Participation Requirements and Impact on the Ecosystem
The projects must have undergone at least one security audit and be open-source on the BscScan blockchain explorer to be eligible. Additionally, they must attract over 1,000 holders of valid tokens and maintain an active presence on social media platforms like Telegram and Discord.
BNB Chain is not alone in its endeavor to boost the memecoin space. Other blockchain networks, such as Avalanche, have also highlighted similar initiatives, offering attractive rewards for selected memecoin liquidity providers.
