BNB Chain is celebrating the memecoin season by launching the "BNB Chain Meme Innovation Battle." This competition encourages developers, content creators, and blockchain aficionados to express their creativity and vie for a portion of the substantial prize pool that could achieve $1M USD.
The competition will run from April 10, 2024, until May 9, 2024. The final results will be revealed between May 10, 2024, and May 15, 2024, with rewards being distributed three weeks after the end of the event. To maintain the integrity of the process, BNB Chain will announce these results over a five-day period to counter any potential unauthorized entries.
The dynamic prize pool's total value will be determined by the collective trading volume of qualifying memecoins throughout the contest. The prize pool's tiered structure is as follows:
- $100,000 for a total trading volume of between 2B and 5B USDT
- $300,000 for trading volumes of 5B to 15B USDT
- $600,000 for 15B to 30B USDT
- $1,000,000 for volumes exceeding 30B USDT.
The competition's rewards will be apportioned among participants based on trading volume (50% of the reward pool), the number of valid new meme holders (40%), and market cap (10%). The top competitors will claim substantial rewards:
- Top 1: 40% of the rewards pool
- Top 2: 30% of the rewards pool
- Top 3: 15% of the rewards pool
- Top 4-10: Equal share of the remaining 15% of the rewards pool.
Participants must meet certain eligibility requirements to qualify for the competition. Participants must have conducted at least one security audit, the total locked liquidity must exceed 25%, and the number of valid new meme holders must be over 1,000. BNB Chain also requires participants to have social media accounts for engagement purposes.
Through competitions like BNB Chain's Meme Innovation Battle, the platform encourages creativity while rewarding the blockchain community for their innovative contributions. We look forward to seeing all the memorable ideas this competition brings forth!
