Announcing Meme Season Round 2 — 750,000 FTM in Prizes

We’re thrilled to announce the 2nd round of our Meme Season competition, building on the success of the 1st round, which distributed $500,000 of sFTMx to thousands of lucky winners!

Meme Season highlights the top memecoins on Opera and the upcoming Sonic chain while distributing sFTMx to new and existing community members. Beyond that, it showcases our innovative technology and growing ecosystem.

The 2nd round of Meme Season features significant changes that we think you'll appreciate. Round details:

• Duration: July 22–September 5
• Prizes: 750,000 FTM as sFTMx

Scoring Formula

Leaderboard positions are based on liquidity, market cap, and DEX volume using this formula:

For example, a memecoin with $1M in liquidity, a $10M market cap, and $2M in DEX volume scores 2M points. Volume on centralized exchanges or other networks outside of Opera is not counted.

Liquidity is calculated by averaging the daily averages over the full duration of the competition, and market cap is calculated using a rolling 3-day average.

The higher a memecoin scores, the higher its position on the leaderboard.

Rewards Distribution

For the 2nd round of Meme Season, 90% of the prize goes to the top 500 holders of each winning memecoin, weighted based on their holdings, and 10% to the teams. The prize allocation is as follows:

To be eligible, memecoin holders must be rewarded at least 5 FTM; if their rewards are less than 5 FTM at the end of the round, they'll not get a prize, and the funds will be distributed to qualifying winners.

Distribution Terms

Based on the dollar value of the sFTMx you win (calculated using a 3-day TWAP), you'll receive your prize through one of two methods:

Under $10k of sFTMx
Your prize will be airdropped within 14 days of round completion. Terms and conditions apply to all final distributions.

Over $10k of sFTMx
Email bd@soniclabs.com to confirm deployer wallet ownership and complete KYC requirements.

Exclusions

We’re excluding the following: UniV3-style pools, non-50/50 Beethoven X pools, auto-compounders, tokens on CEXs, tokens held inside contracts (except for multisigs and LPs), and known vesting, marketing, sniper, burn, or deployer wallets. 

Additionally, tokens blatantly abusing market cap or volume weights will be manually disqualified. Wallets can be excluded at Sonic Labs's sole discretion. These wallets will also be excluded from a memecoin’s qualifying reward and stats added to the leaderboard.

Every round, disqualified wallets from the previous round will be reassessed regarding their eligibility for the current distribution.

Eligibility Criteria

To participate, a token must be considered a “memecoin” or “community token” by Sonic Labs, which we define as any ERC-20 contract that offers no monetary incentives or products. These tokens focus on community, social connections, and contemporary meme culture, and must not be governance, tax, or emission tokens.

Memecoins must fulfill these criteria on the Opera network:

1. Complete application form, released at the start of the round on the leaderboard.
2. Verified contract and ownership renounced.
3. Listed on CoinGecko and DEX Screener (both optional, but kindly requested to give more visibility to the network and competition).
4. Primary liquidity in Uniswap V2-style pools (x * y = k).
5. For tokens launched before this announcement, liquidity must be burned or locked for 90 days minimum.
6. For tokens launched after this announcement, liquidity must be sent to the Sonic Community Council or locked for 90 days minimum.
7. Must not be a governance, tax, DEX-emission, or mintable token.
8. Minimum 250,000 USD market cap for a rolling 3-day average.

Eligible DEXs

See below for the eligible DEXs on Opera to which liquidity can be supplied.

Liquidity Pools

In the 2nd round, users who deposit memecoins into specific liquidity pools are counted as holders. Get ready to be rewarded for providing liquidity!

See below for the eligible tokens that you can pair with your memecoins in liquidity pools on the DEXs above.

Review Period

Upon completion of the round, there's a 14-day review period, during which Sonic Labs will consult with the Sonic Community Council for a peer review and mediation of any uncertainties based on the potential gaming or manipulation of the competition. This is not limited to the abuse of artificial volume or market caps.