BNB Chain is set to reward meme coin creators with prizes potentially reaching $1 million. The ecosystem team has unveiled a program aimed at supporting developers of meme coins, offering a substantial prize pool.
Dubbed the Meme Innovation campaign, interested participants are required to deploy a meme coin on the BNB Smart Chain (BSC) and apply for participation before April 9th. The competition is scheduled to run from April 10th to May 9th.
The prize pool size will be determined based on the total trading volume of eligible meme tokens throughout the competition period, potentially reaching $1 million. The final amount will be contingent upon the cumulative trading volume of qualifying meme tokens during the specified period.
Winners of the competition will be announced on May 16th, with rewards distributed to their respective wallets within three weeks following the conclusion of the campaign.
Meme coins have been garnering increasing attention within the cryptocurrency community in recent months. Arthur Hayes, co-founder of the cryptocurrency exchange BitMEX, has suggested that meme tokens could have utility within the blockchains they operate on.
On the other hand, Ethereum co-founder Vitalik Buterin has expressed disinterest in meme coins, urging developers to focus on creating tokens that benefit society or serve charitable causes.
Analysts from investment firm Franklin Templeton have also weighed in on meme coins, noting their significant relationship with native blockchains and their impact on network activity.
Despite varying opinions among influential figures, there have been reports of successful transactions involving meme coins, with traders turning modest investments into substantial gains.
