BNB Chain's ecosystem team has introduced a program to provide support to developers of meme coins with the chance to win prizes of up to $1 million. This initiative is part of the Meme Innovation campaign and requires participants to deploy a meme coin on the BNB Smart Chain (BSC) and submit applications before April 9. The competition will run from April 10 to May 9.

The prize pool will be determined based on the total trading volume of eligible meme tokens during the contest period, potentially reaching $1 million. The final amount will depend on the trading volume of qualified memes during this duration. Winners will be announced on May 16, and rewards will be distributed to their wallets within three weeks of the campaign's conclusion.

While some industry experts have differing opinions on meme coins, the development of these tokens continues to capture the interest of the crypto community. Analysts from Franklin Templeton highlighted the strong connection between meme coins and their respective blockchains, emphasizing their impact on network activity. Despite varying viewpoints, positive stories of successful transactions and significant profits from meme coin trading have been prevalent within the community.

Original Image: The Value Between Meme Coins and Their Native Networks [pic.twitter.com/LYjQ5HvXHp]