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BNB Chain aims to attract meme token developers amid rising popularity, announcing up to $1 million in rewards for launching projects on its network.
This initiative is part of BNB Chain’s strategy to boost the growth of memecoins within its network. Interested developers can join the “Meme Innovation Campaign” running from April 10 to May 9, deploying their tokens on the network to vie for rewards.
To qualify for rewards, developers must achieve a minimum trading volume of $2 billion for their memecoins. Higher volumes, exceeding $30 billion, can even earn them the top $1 million prize. Additionally, they need to pass a security audit, open-source their project on BNB Smart Chain’s explorer, and have over 1,000 tokenholders.
BNB Chain’s move aligns with the recent surge in meme tokens’ market capitalization, hitting $70 billion on April 1. This surge was fueled by the success of tokens like Dogwifihat (WIF) and Book of Meme (BOME), alongside established ones like Pepe (PEPE) and Bonk (BONK).
Other blockchain networks are also jumping on the memecoin bandwagon. For instance, the Avalanche Foundation offered $1 million rewards to memecoin liquidity providers on March 22, signaling a broader trend in the crypto space.
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