Smart contract blockchain BNB Chain is actively seeking to attract developers of memecoins, responding to the explosive growth of meme tokens in the crypto space.
BNB Chain has allocated up to $1 million to reward eligible developers who deploy their memecoin projects on the network. This initiative aims to accelerate the growth of the memecoin landscape within BNB Chain.
Developers interested in participating can apply for the network’s “Meme Innovation Campaign.” The campaign period spans from April 10 to May 9, during which developers can deploy their tokens on the BNB Chain.
BNB Chain emphasizes that the competition is about empowering creators to use blockchain technology to bring their memecoin ideas to life. It encourages both seasoned developers and newcomers to participate in the campaign.
While the competition seems straightforward, meeting the requirements may pose challenges. Memecoins need a minimum trading volume of $2 billion to qualify for the lowest reward, while those with over $30 billion in volume can compete for the $1 million prize.
Participants must fulfill various eligibility requirements, including completing a security audit, open-sourcing the project on BNB Smart Chain’s blockchain explorer, BscScan, and having over 1,000 valid new tokenholders. Additionally, the project must be active on social media platforms like Telegram and Discord.
BNB Chain’s initiative comes amid a surge in meme-focused tokens in the crypto space, with the total market capitalization reaching $70 billion. Tokens like Dogwifihat (WIF), Book of Meme (BOME), Pepe (PEPE), and Bonk (BONK) have seen significant pumps.
Other blockchain networks, such as Avalanche, are also encouraging the development of memecoins within their ecosystems. The Avalanche Foundation offered a $1 million reward for memecoin liquidity providers, further demonstrating the industry’s interest in meme token development.
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