The post Simon’s Cat Wins $50k in BNB Meme Heroes Support Program appeared on BitcoinEthereumNews.com.

In a recent announcement, BNB Chain declared Simon’s Cat (a popular memecoin based on animation created by Simon Tofield) as the winner for the second phase of the “Meme Heroes” support program. The Simon’s Cat crypto community is in full swing as this memecoin project will receive $50,000 in liquidity pool support. This initiative aims to empower meme projects by providing a liquidity pool helping promising projects to grow within the BNB Chain ecosystem.  We’re excited to announce the latest winner from the second phase of our Meme Liqudity Support Program! 🏆 The winner is: @SimonsCatMeme Here’s a deeper look at @SimonsCatMeme, how we selected them and what they receive 👇 The Winner 🏆 Simon’s Cat – a popular animated… pic.twitter.com/smy2VcSxec — BNB Chain (@BNBCHAIN) September 11, 2024 Why is BNB supporting Memecoins? By supporting such projects, BNB Chain aims to accelerate Web3 adoption and provide funding for projects that reflect real utility.  Rigorous Selection and Criteria Since the “Meme Hero” Program will help promote the growth and visibility of the meme coin and will help the winners maintain a stable trading environment, the selection criteria are quite rigorous. For the projects to be considered for the program, the projects must meet the following criteria:  Liquidity Lock: The project has to lock 100% of its LP for at least a year. Token Supply Contribution: A requirement to add 10% of their total token supply to the LP.  Ownership Distribution: The top 10 externally owned accounts must hold less than 10% of the total supply.  Security Measures: The projects need to verify their tokens’ source code on BscScan or undergo a security audit.  The BNB team also evaluates the trading volume, token holders, and market capitalization.  Simon’s Cat finished first as per these criteria.  A New Chapter for Simon’s Cat With…

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Filed under: News - @ September 11, 2024 1:22 pm