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(Updated) Meme Innovation – Battle for a Prize Pool of up to $1M USD

2024.4.2  •  7 min read
Blog post image.

Update - 18 April 2024

Greetings, meme coin enthusiasts and blockchain adventurers! 

As the meme coin season is gaining momentum, we're thrilled to announce the “BNB Chain Meme Innovation Battle,” an exciting opportunity for developers and the community to unleash their creativity and compete for amazing rewards.

Please be aware that as of April 18, 2024, we've introduced the Trade Airdrop Rewards Competition. The initial $1M prize pool is now divided between two competition streams. As a result, the prize pool allocations and reward distribution have been updated accordingly. Additionally, we have lowered the trading volume requirements for the Meme Innovation Competition's dynamic reward pool.

Please take a moment to familiarize yourself with the updated terms and conditions.  Updated sections are highlighted in bold.

Two Streams To Enhance Inclusivity

To ensure that the broader community has the opportunity to participate, we've adjusted the competition to feature two streams: 

  1. Meme Innovation Competition
  2. Trade for Airdrop Rewards Competition

Meme Innovation Competition

The competition's core mission remains unchanged: to inspire creators to unleash their creativity with meme coins within the BNB Chain ecosystem. However, we've made adjustments to the prize pool (now reaching a maximum of $500,000) to accommodate the new Trade for Airdrop Rewards Competition stream.

Key Dates to Remember

Event

Key dates

Registration period

The application period ends on May 8, 2024, at 23:59 UTC

Competition period

April 10, 2024, 00:00 UTC-2024.5.09 23:59 UTC

Announcement of Top 10


May 10, 2024 to May 15, 2024 23:59 UTC


Due to the unique nature of the meme bonus system, we will announce the results over 5 days to prevent unauthorized sign-ups on behalf of the meme builder. If you have any questions, please refer them to us. If there are no issues, we will distribute the rewards as announced.

Results announced

May 16, 2024

Reward distribution

Rewards will be sent to the winning participants' wallet addresses 3 weeks after the event ends.

Dynamic Prize Pool

The dynamic prize pool can reach up to $500,000, with the final amount determined by the total trading volume of the qualified memes during the competition period. The higher the trading volume, the larger the prize pool.

Reward Distribution:

Total trading volume derived from all qualifying meme tokens in the campaign over a 30-day period (USDT)

Dynamic Rewards Pool Unlocked 

500M~1B

$100,000

1B~2B

$200,000

2B~5B

$300,000

5B~

$500,000

The final prize pool will be divided among qualified participants based on their ranking in three categories: total trading volume, market cap, and meme community holders.

Weight ratio

Total trading volume

50%

Number of valid new meme holders

40%

Market Cap

10%

Rewards Structure

Ranking in the competition

Reward per participants

Top 1

40% of the dynamic rewards pool unlocked

Top 2

30% of dynamic rewards pool unlocked

Top 3

15% of dynamic rewards pool unlocked

Top 4-10

Equal share of the remaining 15% of dynamic rewards pool unlocked

Who Qualifies?

Everyone is encouraged to participate whether you're a seasoned developer or a newcomer to the meme coin scene. The following are the eligibility requirements:

  • Complete at least one security audit and open-source the project on BscScan.
  • The total locked liquidity (including locker contract's amount and dead address's amount) must exceed 25% for at least half a year.
  • The number of valid new meme holders must be over 1,000.
  • You must have a social media account, including but not limited to Telegram and Discord community.
  • Public pre-sale projects are ineligible to participate.
  • If your meme token has not been deployed on BNB Smart Chain (BSC) yet, it's not an issue. Simply deploy it before the campaign ends to participate in the competition. Here is the guidance to deploy a token on BSC.
  • If you are introducing a new meme asset, simply publish it before the end of the campaign to qualify for participation in the contest.

If you meet the requirements, simply submit your application here

Trade for Airdrop Rewards Competition

Users can trade the top 10 meme coins on BSC during the activity period to qualify for airdrop rewards based on trading volume. A snapshot will be taken for each stage.

Note: Trading meme coins involves inherent risks, and it's important to understand that the top 20 ranked meme coins on BSC are ranked by trading volume and do not imply an endorsement from BNB Chain.

Reward design

Stages

Prize pool

Activity period

Snapshot time

# 1

$10,000 

2024.4.20 00:00 UTC-2024.4.21 23:59 UTC

April 19, 14:00 UTC

Announcement of top 10 meme coins

# 2

$10,000

2024.4.21 00:00 UTC-2024.4.22 23:59 UTC

April 20, 14:00 UTC

Announcement of top 10 meme coins

#3

$10,000

2024.4.22 00:00 UTC-2024.4.23 23:59 UTC

April 21, 14:00 UTC

Announcement of top 10 meme coins

Note: More stages will be announced shortly. 

Rewards Structure

Ranking

Reward

Top 1

$1,500

Top 2

$1,000

Top 3

$500

Top 4-100

$25  per wallet address

Top 101-1000

$5  per wallet address


Terms & Conditions:

By participating in the competition, participants must abide by the following terms and conditions:

  • Participants must be at least eighteen (18) years old, (or such other legal age of majority applicable in the jurisdiction where the participant  is resident) at the time of entry, and (iii) meet all other entry criteria specified in the announcements, promotional materials or other communications made available to participants in respect of the competition. Participants must register to be eligible to participate in the Contest.
  • Participants are solely responsible for ensuring that their participation complies with all applicable laws and regulations, including but not limited to securities laws and regulations regarding financial promotions.
  • Participants represent and warrant that their meme coin shall not infringe the rights of any third parties, including intellectual property rights. Participants grant BNB Chain a royalty-free, worldwide license to use, display, and promote the project in connection with the competition.
  • BNB Chain and its affiliates will not be liable for any damages arising out of your participation in the competition, the development of your project.
  • Participants agree to indemnify and hold harmless BNB Chain and its affiliates from any claims, damages, losses, or expenses arising from their violation of these terms and conditions or their violation of any law or the rights of any third party.
  • Please ensure that the smart contract you submit is open source and verify so that we can count all trading volumes.
  • New Valid meme coin holders:This refers to the active wallet address. For example, the meme coin holder's wallet address has transaction records. Wallet addresses with only this meme coin airdrop will not be counted.
  • Should project wish to engage external/3rd party audit firm they can visit BNB KickStart
  • We encourage developers to go through AvengerDao Web3 Security Framework for best practice and checklist.
  • The leaderboard will go online on April 12, and the data will be updated at 00:00 UTC every day.Thanks to AVE.AI for providing data support.
  • BNB Chain’s decision with regard to the winners  will be final.
  • Reward distribution: Rewards will be distributed to the winning wallet address within 3 weeks after the event ends.
  • If for any reason the reward, or any part of the reward, is unavailable, we reserve the right to modify the challenge in its sole discretion and award a substitute prize, or portion of a prize, of comparable or greater value as set forth in these Terms and Conditions, as determined by BNB Chain in its sole discretion. No substitution, transfer, assignment or cash equivalent of the Prize, or any portion thereof, is permitted by the Winner (as defined below). BNB Chain  shall have no responsibility or obligation to a winner who is unable or unavailable to, or who does not for any reason, accept or utilise the reward.. In the event a potential winner cannot accept the reward,  such reward will be cancelled. The rewards are provided “as is”. Participants acknowledge that BNB Chain have neither made nor are in any manner responsible or liable for any warranty, representation or guarantee, express or implied, in fact or in law, relative to the rewards, including any implied warranty of merchantability or of fitness for a particular purpose. 
  • By entering into the competition and/or winning the rewards, participant irrevocably consents to the use of his or her name, image, photograph, likeness, biographical information, entry, statements attributed to the participant/project (if true) and any video footage related to the reward, for BNB Chain’s  advertising, promotional or other commercial purposes in all media now or hereafter known, worldwide and in perpetuity without additional compensation and additionally consents to BNB Chain putting his or her name on a winner’s list.
  • BNB Chain core team reserves the right to disqualify the projects deemed to be wash trading or using illegal bulk wallet addresses, self-dealing, or displaying attributes of market manipulation, etc.
  • The BNB Chain core team reserves the right, at its sole discretion, to amend or cancel this announcement at any time and for any reason without prior notice.
  • Where any discrepancy arises between the translated and original versions, the English version shall prevail.

Join us in this thrilling meme battle on BNB Chain, where creativity meets rewards! Let's make meme history together. Stay tuned for more updates and announcements on X platform

Submit your application here. 

Disclaimer:

Digital assets are highly speculative and involve significant risk of loss. The value of meme coins is extremely volatile, and any one who wishes to trade in any meme coin should be prepared for the possibility of losing their entire investment. BNB Chain makes no representations or warranties regarding the success or profitability of any meme coin developed as part of this competition.  BNB Chain is a public, decentralized, and permissionless blockchain. Participation by any project should not be seen as an endorsement or recommendation by BNB Chain. Users should assess their financial situation, risk tolerance, and do their own research before participating in this competition or trading in any meme coins participating in this competition. BNB Chain will not be held liable for any losses, damages, or issues that may arise from participating or trading in any meme coins participating in this competition.

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