BNB Chain Announces Recipient of BNB Chain Meme Heroes LP Support

Dubai, UAE, September 11th, 2024, Chainwire

BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, has announced the latest winner from phase two of its “Meme Heroes” program. Built to accelerate meme coin innovation and support, and further develop and grow promising meme projects, BNB Chain has awarded liquidity pool (LP) support to Simon’s Cat (CAT) as part of the Meme Innovation program.

Simon’s Cat (CAT) is an animated series created by animator Simon Tofield in 2008, featuring a mischievous cat that often finds itself in humorous situations while trying to get its owner’s attention. Now, Simon’s Cat has entered the crypto world with its own official meme token on BNB Chain, allowing fans and crypto enthusiasts to connect with the brand in a new and innovative way. Simon’s Cat will receive $50,000 in LP support.

Several key criteria were followed to select the winner of the second phase of the Meme Heroes support program. Projects were required to lock 100% of their LP liquidity for at least one year or transfer it to a null address. They also needed to contribute 10% of their total token supply to the LP. Ownership distribution was another factor, with the top 10 externally owned accounts (EOAs) required to hold less than 10% of the total supply, and stakeholders were encouraged to lock or vest their funds over time. Additionally, projects had to verify their token source code on BscScan or undergo a security audit. Final decisions also considered trading volume, number of token holders, and market capitalization. Based on this, CoCo Coin and Simon’s Cat stood out during the course of the competition.

BNB Chain recognizes the important role memecoins play in onboarding newcomers to Web3, aligning with its core mission to bring the next billion users into the space. Through initiatives like Meme Heroes, BNB Chain is providing essential support to memecoin projects that demonstrate real utility, helping them achieve their business goals.

For more information and to learn more, users can visit here.

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:

BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.

Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.

For more, users can follow BNB Chain on X or start exploring via the Dapp library.