BNB Chain Launches Meme Competition; Offers Up To 1 Million USD In Rewards

2, April 2024 – BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, today announced that it will be offering up to 1 million USD in rewards through its newly launched Meme Innovation Campaign. 

To accelerate the growth of the meme coin landscape within the BNB Chain ecosystem, the meme competition contributes to this trend and encourages developers to build their meme coins natively on BNB Smart Chain (BSC).

The campaign acts as a medium that empowers creativity and encourages builders to express themselves freely. In line with BNB Chain’s ethos of empowering builders to develop on-chain, the meme campaign captures the tenor of the Web3 community and encourages participation by all. 

From experienced developers to newcomers on the meme scene, applications are now live. Users simply need to submit an application form to become eligible and deploy their meme tokens on BSC during the competition period to qualify. The full eligibility details can be found here.

Event dates are as follows: 

• Registration period: The application period ends on April 9, 2024 at 23:59 UTC
• Competition period: April 10, 2024 at 00:00 UTC to May 9, 2024 at 23:59 UTC
• Results announced: May 10, 2024 at 23:59 UTC to May 15, 2024 at 23:59 UTC. To ensure the integrity of the rewards system, results will be publicly disclosed for 5 days after submissions. Any objections from the community can be reported during this period. If no objections are raised, rewards will be issued accordingly.
• Reward distribution: Rewards will be sent to the winning participants' wallet address three weeks after the event ends

With its mature infrastructure, security, affordability, vibrant community and diverse DeFi ecosystem, BSC offers the ideal ecosystem for creating, launching, trading, and exploring meme tokens. From its Ethereum Virtual Machine (EVM) compatibility for easy app portability and its support from all major centralized exchanges (CEXs), to the lowest gas fees (<$0.03) among L1 blockchains, and interoperability offering scaling that prioritizes speed and user experience, BSC has emerged as a preferred choice for launching tokens. Additionally, BSC offers a simple five step process to launch tokens that is accessible irrespective of coding experience. 

The BNB Chain Meme Innovation campaign prize pool can reach up to 1 million USD and will be determined based on the total trading volume of qualified meme tokens during the competition period. The prize pool is as follows. The full terms and conditions, along with the reward distribution details can be found on the BNB Chain blog: 

The BNB Chain Core Development Team said: “As a community-led blockchain ecosystem, BNB Chain is happy to be launching a program as part of the ongoing efforts to bolster ecosystem growth and that allows our community to innovate creatively in the space. Taking place at the intersection of creativity, Web3 culture, and innovation, the campaign is about empowering creators, both seasoned developers and newcomers, to use blockchain technology to bring their ideas to life. We can’t wait to see the exciting creations that emerge!”

In addition to the Meme Innovation Campaign, BNB Chain has implemented various initiatives to support and grow the development of the ecosystem. These include the MVB (Most Valuable Builder) program, a 10-week accelerator program for builders, founders and developers focused on growing the BNB Chain ecosystem. Furthermore, BNB Chain offers comprehensive builder support programs, ensuring developers have the resources and assistance they need to thrive.

Users can submit their application here.

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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 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, follow BNB Chain on Twitter or start exploring via our Dapp library.