- BNB Chain has joined the memecoin frenzy.
- The blockchain launched a campaign targeting memecoin developers.
- Winning participants in the campaign stand to win prizes from a massive reward pool.
Smart contract blockchain BNB Chain has dived into the memecoin craze with a massive reward for developers who will participate in the BNB Chain Meme Innovation Battle.
The competition comes as the memecoin frenzy shows no signs of stopping, with meme-themed crypto traders catapulting decentralized exchange (DEX) activity to all-time highs last month. Per DefiLlama data, DEXs recorded a transaction volume of $267 billion in March, outpacing November 2021’s peak of $234 billion.
BNB Chain Embraces Memecoin Frenzy
In an announcement dated April 2, BNB Chain said its Meme Innovation Campaign will feature up to $1 million in rewards to empower creativity and encourage developers to build their memecoins natively on the blockchain network.
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“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.”
While both experienced and newcomer developers are encouraged to participate, applicants must meet certain qualifications to become eligible and deploy their memecoins on the BNB Chain, including having over 1,000 valid new meme holders.
Besides completing at least one security audit and open-sourcing their projects on BscScan, developers must also have a total locked liquidity that exceeds 25% for at least half a year and a social media account to be eligible for the campaign.
Per the statement, the competition will run from April 10 at 00:00 UTC to May 9 at 23:59 UTC after the application period ends on April 9 at 23:59 UTC. The campaign’s results will be announced between May 10 and May 15, after which winning participants will receive rewards in their wallet addresses “three weeks after the event ends.”
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Read how Solana recently outpaced BNB:
Solana Briefly Climbs Past BNB: What’s Behind the 33% Rally?
Stay updated on Ethena Labs’ 750 million ENA airdrop:
Ethena Labs Opens 750M ENA Airdrop Claims as Token Goes Live
