BNB Chain Allocates $900K Liquidity to Boost Meme Coin Ecosystem
Terrill Dicki Jun 26, 2024 04:42
BNB Chain dedicates $900K to enhance meme coin development through its Meme Innovation Campaign, promoting liquidity and stability within the ecosystem.
BNB Chain has announced a significant commitment of $900,000 towards supporting the development of meme coins within its ecosystem. This initiative is part of the broader Meme Innovation Campaign, which aims to accelerate innovation and growth in the meme coin sector.
Phase Two: Meme Heroes Program
The second phase of the campaign, dubbed the 'Meme Heroes' support program, will see BNB Chain allocating the remaining $900,000 for liquidity pool (LP) support. This funding is intended to foster the development of promising meme projects. All revenue generated from the LP support will be reinvested into further meme coin development, ensuring a sustainable growth cycle.
Application Criteria and Process
The Meme Heroes support program aims to improve liquidity and create a stable trading environment. To qualify for this support, projects must meet the following criteria:
- Lock 100% of the LP liquidity for at least one year or send it to a null address.
- Add 10% of the total token supply to the LP.
- Ensure that the top 10 externally owned account holders possess less than 10% of the total supply, with a recommendation to lock or vest their funds over time.
- Verify the token source code on BscScan or undergo a security audit.
- Consider trading volume, number of token holders, and market capitalization if all other conditions are satisfied.
Interested projects can apply for LP support by completing a form, which includes a brief project description and supporting information as outlined above. Applications can be submitted here.
Tracking and Reinvesting Revenue
BNB Chain has committed to reinvesting all revenue generated from these LPs back into the ecosystem. The funds will be directed to a dedicated LP address to ensure ongoing support for meme coins. Users can track BNB’s LP support assets through the following addresses:
BNB: https://bscscan.com/address/0x48A0BD8CfFC189583Ed6F07163328780EDfe5cc9
ETH: https://etherscan.io/address/0x48A0BD8CfFC189583Ed6F07163328780EDfe5cc9
Encouraging Participation
With a robust infrastructure, security, affordability, and a vibrant community, BNB Chain provides an ideal environment for creating, launching, and trading meme tokens. Developers and meme projects are encouraged to submit their applications to take advantage of this opportunity.
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