Introducing Meme Season Competition: Up to 10 Million sFTMx in Prizes

We’re excited to announce Meme Season, a dynamic and engaging competition designed to cast a spotlight on the top memecoins on Opera and the upcoming Sonic chain. Meme Season aims to bring in new users and developers, providing them with the opportunity to experience our innovative technology.

With up to a staggering 10 million sFTMx in prizes, both teams and holders of memecoins have the opportunity to benefit from their participation and come together as a community to compete for the top spot.

Meme Season will be held in multiple rounds, the first of which will run from June 1–June 30 and offers a prize pool of up to 1 million sFTMx (liquid staked FTM through Beethoven X).

Competition Guidelines

A memecoin's position on the leaderboard is determined by a combination of its market cap, gas usage, and trading volume, using the following formula:

For example:
A memecoin with a $1 million market cap, 10,000 FTM in gas used, and 100,000 FTM in DEX volume, will score 518,500 points. Volume on centralized exchanges or other networks outside of Opera is not counted. 

Each round's prizes are calculated using points; the higher a memecoin scores, the higher its position on the leaderboard. The top 3 memecoins at the end of each round are the winners.

Rewards Distribution

In each round, 80% of the prize is given to the holders of the top 3 winning memecoin projects, weighted based on their holdings. The remaining 20% goes to the teams behind these top 3 memecoins. For the first round, the prize allocation will be as follows:

• Winner 1 = 600k sFTMx (480k to holders and 120k to team)
• Winner 2 = 300k sFTMx (240k to holders and 60k to team)
• Winner 3 = 100k sFTMx (80k to holders and 20k to team)

To be eligible, memecoin holders must have at least $25 worth of the token, calculated at a 3-day average after the round. We’re excluding LPs, auto-compounders, vesting, or any tokens held inside of a contract, as well as known marketing, sniper, burn, or deployer wallets.

Users or token creators with over $10,000 worth of sFTMx winnings (based on a 3-day TWAP on the price of sFTMx) will be directed to email bd@fantom.foundation and confirm ownership of the deployer wallet via on-chain signature and complete KYC requirements.

Users or token creators with under $10,000 worth of sFTMx winnings (based on a 3-day TWAP on the price of sFTMx) will be airdropped their winnings within 14 days of round completion. Terms and conditions apply to all final distributions.

How to Get Memecoin Added to MemeMonitor

Meme Season Monitor is the official leaderboard of Meme Season and keeps track of each memecoin’s position in the competition.

To participate, a token must be considered a memecoin, which we define as any ERC-20 contract that offers no monetary incentives or products. Memecoins 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 to participate in Meme Season:

1. Complete application form, released at the start of each round on the leaderboard.
2. Verified contract and ownership renounced.
3. Listed on CoinGecko and DEX Screener.
4. Minimum 1 million USD market cap for a rolling 3-day average.
5. Primary liquidity in Uniswap V2-style pools (x * y = k).
6. For tokens launched before this announcement, liquidity must be burned or locked for 180 days minimum.
7. For tokens launched after this announcement, liquidity must be sent to the Sonic Community Council or locked for 180 days minimum.
8. Must not be a governance, tax, DEX-emission, or mintable token.

For the first round, the decentralized exchanges on Opera to which liquidity can be supplied include:

• Equalizer Exchange
• SpiritSwap 
• SpookySwap
• Beethoven X (50/50 pools only)
• Sushi
• Velocimeter
• WigoSwap
• Degen Express
• Memebox
• Solidly

For future rounds, additional decentralized exchanges can be added upon request to bd@fantom.foundation.

A memecoin cannot win more than two consecutive rounds. For example, if a memecoin wins the first two rounds, it cannot win the third round but can compete again in the fourth round. In the event there are not sufficient projects meeting the criteria, the market cap requirement will be dropped to 500k USD for a rolling 3-day average.