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Binance Introduces Memecoin Challenge for BNB Chain

Binance, the top cryptocurrency exchange by trading volume globally, is encouraging developers to create the next viral memecoin on its BNB Chain.

In a recent announcement, BNB Chain introduced the BNB Chain Meme Innovation Battle, offering a prize pool of up to $1 million.

“We’re thrilled to announce the BNB Chain Meme Innovation Battle where up to $1 million is up for grabs!

This is an exciting opportunity for developers and creators to showcase their creativity and compete for amazing rewards.”

As per a recent blog post, aspiring memecoin creators must register by April 9th. The competition is scheduled for the following day, with finalists and winners set to be announced approximately one month later. Rewards will be distributed to winners three weeks after their victory.

Binance has described the prize pool as ‘dynamic’, indicating that it may change over time.

“The dynamic prize pool can reach up to $1 million USD, 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.

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.”

Those meeting the competition’s requirements can register via an online application provided in the company’s blog post.

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