The BNB Chain team has launched the "Meme Innovation Battle" event, inviting developers and creators worldwide to showcase their creativity in crafting memecoins. 

With a prize pool of up to $1 million, this competition aims to promote innovation and community engagement within the meme coin space.

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Event Details

Interested participants must register before April 9th, 23:59 UTC, with the competition running from April 10th to May 9th, 23:59 UTC. The top 10 winners will be announced between May 10th and 15th, with final results revealed on May 16th, 2024.

Prize Pool Allocation:

The prize pool distribution will be dynamically adjusted based on the aggregate trading volume of participating memecoins. Winners will be determined by their ranking in three categories: total trading volume, market capitalization, and the number of meme community holders. The BNB Chain team will distribute rewards to winners' wallet addresses within three weeks after the event's conclusion.

The reward distribution is as follows:

Eligibility Criteria:

• Both seasoned developers and newcomers are encouraged to participate, but projects must meet certain eligibility requirements:
• Complete at least one security audit and open-source the project on BscScan.
• Maintain total locked liquidity exceeding 25% for at least six months.
• Accumulate over 1,000 valid new meme holders.
• Have a presence on social media platforms like Telegram and Discord.
• Public pre-sale projects are ineligible.
• Projects not deployed on BSC can still participate by deploying before the campaign ends.

Further, participants must adhere to specific terms and conditions, including registering for the contest, maintaining open-source smart contracts, and engaging in transparent transaction volume counting. The BNB Chain core team reserves the right to disqualify projects engaging in illicit activities or market manipulation.

Event Timeline:

• Registration period ends: April 9, 2024, 23:59 UTC
• Competition period: April 10, 2024, 00:00 UTC - May 9, 2024, 23:59 UTC
• Results announced: May 10, 2024 - May 15, 2024
• Reward distribution: Within three weeks after the event ends.

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Growth of BNB Chain

BNB Chain has other several initiatives to build the ecosystem in addition to the Meme Innovation Campaign. Among these are the MVB (Most Valuable Builder) program, an accelerator program for builders, and other builder support programs that ensure developers have the resources necessary to thrive. 

Worth noting, BNB Chain is ranked second in decentralized exchange (DEX) volume, after Ethereum, and third in number of daily active users, according to DefiLlama.