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The BNB Chain ecosystem continues to innovate and support promising projects. Today, we are excited to announce the winner of the second phase of our “Meme Heroes” support program – Simon’s Cat (CAT)! Congratulations!
What is Simon’s Cat?
- LP Amount: $50,000
Simon’s Cat is a beloved animated series created by British 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 the BNB Smart Chain, allowing fans and crypto enthusiasts to connect with the brand in a new and innovative way.
Criteria for Meme Heroes Selection
The “Meme Heroes” initiative is designed to empower meme projects by providing liquidity pool (LP) support, which is crucial for fostering growth, enhancing liquidity, and ensuring a stable trading environment for users.
In the second phase of the support program, BNB Chain has committed $900,000 for LP support. To ensure that we support only the most promising and committed projects, we have established the following criteria for selection:
- Liquidity Lock: Projects must lock 100% of their LP liquidity for at least one year or send it to a null address.
- Token Supply Contribution: Projects are required to add 10% of their total token supply to the LP.
- Ownership Distribution: The top 10 externally owned accounts (EOAs) must hold less than 10% of the total supply. These stakeholders are encouraged to lock or vest their funds over time.
- Security Measures: Projects must verify their token source code on BscScan or undergo a security audit.
Additionally, we consider trading volume, number of token holders, and market capitalization when making our final decisions.
Simon’s Cat finished first as per our criteria.
Why BNB Chain Is Supporting Memecoins
BNB Chain understands the importance of memecoins, especially when it comes to onboarding newcomers. One of BNB Chain’s main tenets is to onboard the next billion into Web3. As such, memecoins play a big role here due to their widespread and mainstream visibility. Competitions like Meme Heroes ensure that memecoin projects with actual utility get the funding they require to achieve their business targets.
This initiative underscores BNB Chain’s mission to support and develop the next generation of successful memecoins.
For projects and developers building in this vertical, contact us here and join Meme Innovation. We’d love to hear from you!
