Leading crypto exchange Binancea competition that encourages developers to create the next viral meme coin on the company’s BNB Chain started.
The exchange also announced a $1 million prize pool with the competition called BNB Chain Meme Innovation Battle.
According to the published blog post, potential meme coin creators have until April 9 to sign up. The competition will take place the next day, and the finalists and winners will be announced approximately a month later. Prizes will be distributed to winners three weeks after they win.
The reward pool is a system that Binance calls ‘dynamic’, meaning it is constantly changing.
“The dynamic prize pool can reach up to 1 million USD, and the final amount is determined by the total trading volume of qualifying meme coins during the competition period. The higher the trading volume, the larger the prize pool will be.
The final prize pool will be split among qualified participants based on their ranking in three categories: total trading volume, market capitalization, and meme community owners.”
Anyone who meets the contest’s prerequisites can register via an online application linked in the company’s blog post.
