Binance Launches Memecoin Challenge for BNB Chain, Enticing Developers Into Creating Next Big Crypto Meme

The world’s leading crypto exchange by trading volume is incentivizing developers to build the next viral memecoin on the company’s BNB Chain.

Today, Binance’s BNB Chainannouncedthe BNB Chain Meme Innovation Battle with a prize 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.”

According to a blog post, potential memecoin creators have until April 9th to register. The competition will take place the following day, with the finalists and winners being announced about one month later. The rewards will be distributed to the winner three weeks after their win.

The prize pool is what Binance is calling ‘dynamic’, meaning ever-changing.

“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.”

Anyone who meets the competition’s prerequisites can register through an online application linked in the company blog post.

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This article was originally reported on The Daily Hodl.