jack anderson
October 8, 2024 11:42
BNB Chain announced CoCo Coin (COCO) as the winner of Phase 3 of its Meme Liquidity Program, which supports meme projects through liquidity and growth.
The BNB Chain ecosystem announced CoCo Coin (COCO) as the winner of the third phase of the “Meme Heroes” support program. According to the BNB Chain blog, this initiative aims to strengthen meme projects by providing critical liquidity pool (LP) support, fostering growth, and improving liquidity within the BNB Chain ecosystem.
What is CocoCoin?
CoCo Coin operates on the BNB Smart Chain (BSC) and is known for its strong community focus. CoCo leverages SocialFi strategy and targeted airdrops to deliver a unique experience inspired by the popular PEPE Frog meme. By combining internet humor and social engagement, we create an ecosystem where participation is rewarding and enjoyable for a diverse user base.
CoCo Coin’s strategy leverages the viral nature of memes to build a community-driven environment. This approach allows users to actively contribute to the coin’s narrative and growth through innovative distribution and community-building initiatives.
Meme Hero Selection Criteria
The “Meme Heroes” initiative is designed to support meme projects by providing a total of $900,000 worth of LP support in a third phase. In order to benefit only the most promising projects, BNB Chain has set several selection criteria.
- 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 must add 10% of their total token supply to LP.
- Ownership distribution: The top 10 Externally Owned Accounts (EOAs) must hold less than 10% of total supply, and stakeholders are encouraged to lock in or vest their funds over time.
- Security measures: Projects must have their token source code verified by BscScan or undergo a security audit.
Additional factors such as trading volume, number of token holders, and market capitalization were also taken into consideration. CoCo Coin has excelled in these areas, demonstrating a strong commitment to growth and security along with innovative community-building efforts.
As the winner, CoCo Coin will receive $50,000 in LP support to further its development and integration within the BNB Chain ecosystem.
Why BNB Chain Supports Memecoin
BNB Chain acknowledges the important role of memecoins in introducing new users to the cryptocurrency world. BNB Chain has a mission to bring the next billion users to Web3 and believes that memecoins with mainstream appeal are essential to achieving this goal. The “Meme Heroes” program is designed to ensure that memecoin projects with real utility and potential receive the support they need to achieve their business and community goals.
This initiative is part of BNB Chain’s broader commitment to foster the next generation of successful memecoins and drive mass adoption of Web3 technology.
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