Terms and Conditions for Meme Mania on Sonic.

Last updated 6 Feb 2025

Summary: The Terms and Conditions govern the relationship between the Sponsor of this Program (as defined below) and Participant Deployers (as defined below) of MemeCoin Projects (as defined below) who wish to participate in the Program, be bound by these Terms, and be eligible for its prizes.

  1. Definitions:

    1. “Approved DEXes” means any of the following approved contracts operated on decentralised exchanges:

      1. Metropolis
      2. WAGMI
      3. Equalizer
      4. Beets
      5. Shadow Exchange
      6. SwapX v4
      7. Degen Express
      8. LazyBear
      9. SilverSwap
      10. SpookySwap
      11. Solidly v3

    2. “Approved Liquidity” means any of the following tokens deployed with your MemeCoin which will accrue points and pairs without one of the following tokens will be excluded:

      1. USDC.e 0x29219dd400f2Bf60E5a23d13Be72B486D4038894
      2. wS 0x039e2fB66102314Ce7b64Ce5Ce3E5183bc94aD38
      3. stS 0xE5DA20F15420aD15DE0fa650600aFc998bbE3955
      4. oS            0xb1e25689D55734FD3ffFc939c4C3Eb52DFf8A794
      5. and excludes any liquidity pools that are auto-compound

    3. “Ecosystem Finalists” means the top 125 token holders for each of the MemeCoin Project Finalists, and excludes known vesting, marketing, sniper, burn, or deployer wallets as determined by the Sonic Labs team, at their sole discretion.

    4. “Eligible Token” means a digital token that is:

      1. a MemeCoin; and
      2. listed on DexScreener (at Participant Deployer’s expense);

      and is neither:

      1. a tax token, governance token, DEX-emission token, or mintable token;
      2. a token that the Sponsor, at their sole discretion, deemed to be:
        1. held or wrapped inside of a smart contract that is either a multisig or Liquidity Provider (LP) smart contract; or
        2. manipulating, abusing or gaming market capitalisation, trading volume or other weights which will be manually disqualified, determined at Sonic labs sole discretion.

    5. “MemeCoin” means an Eligible Token created for fun, to support the internet meme culture - including but not limited to pictures of green frogs, cats or dogs, whether wif or wifout hats - rather than any token created for investment or payment. The definition of what constitutes a “MemeCoin” still be at the sole discretion of the Sponsor.

    6. “MemeCoin Project” means a MemeCoin project deployed by a Participant Deployer in participation of the Program under these Terms, and excludes any MemeCoin project determined by the Sponsorat their sole discretion to be:

      1. manipulating trading transaction to artificially inflate market capitalisation or trading volume; or
      2. linked to known vesting, marketing, sniper, burn, or deployer wallets.

    7. “MemeCoin Project Finalists” means the Participant Deployers of the top 8 MemeCoin Projects in this round who meet eligibility as stated under clause 2 below and whose MemeCoin Projects exceed a market capitalization of USD $250,000. The MemeCoin Project Finalists will be determined at the sole discretion of the Sponsor.

    8. “Null Address” means the wallet bearing the address 0x000000000000000000000000000000000000dEaD

    9. “Network” means the Sonic Network, a distributed ledger technology platform supported by the Sponsor.

    10. “Participant Deployer” means ‘you,’ ‘your,’ a deployer of a MemeCoin on the Network.

    11. “Program” means this second round of the MemeMania 2025 contest by Sponsor as accessible at https://meme.soniclabs.com/ to be operated during the course of the Term.

    12. “Sonic Network” means the Sonic network as supported by the Sponsor.

    13. “Sponsor” means ‘us,’ ‘we,’ the sponsor of the MemeMania 2025 contest, Sonic Labs.

    14. “Terms” means these terms and conditions.

    15. “Term” means the duration of this Program, commencing from 7th February 2025 and ending on 8th of March 2025.

    16. “Review Period” means the period commencing from 9th of March 2025 and ending on 21st March 2025. During the Review Period the Sponsor will consult with relevant parties for a peer review and mediation of any uncertainties based on the potential gaming or manipulation of the Program including and not limited to abuse of artificial volume and artificial market caps

    17. “Verified Contract” mean smart contract governing the tokens of a MemeCoin Project that have been:

      1. verified by Sonicscan at https://sonicscan.org/verifyContract and
      2. had their token ownership renounced by the Participant Deployer via transfer to the Null Address.

    18. “Winners” means either MemeCoin Project Finalists or Ecosystem Finalists, as determined by the Sponsor at its sole discretion.

  2. Eligible Participation: the Program is open to all developers and crypto enthusiasts who are over the age of eighteen (18) years who wish to launch a MemeCoin Project on the Network except for developers from the countries excluded in the terms and conditions accessible here. Participant Deployers must agree to and comply with all these terms and conditions to be eligible for the Program.

  3. Participation Guidelines: All Participant Deployers must be compliant with the following participation guidelines in order to participate in the Program;

    1. Liquidity Conditions:
      1. Starting liquidity of no less than 85% of total supply must be provided on Approved Liquidity providers on any Approved DEXes; and
      2. For tokens launched before this announcement, liquidity must be:
        1. Burnt by sending to the Null Address; or
    2. Submission:
      1. All submissions must be made via the Google Form page provided by the Program; and
      2. All submissions must be complete and accurate, and must comply with all Program requirements.

  4. No Endorsement: All information provided under the Program is for informational purposes only, without any representation, warranty or guarantee of any kind as to its accuracy. None of this is as an endorsement by Sonic Labs or any of its subsidiaries or affiliates, nor is any of this investment or financial advice. Participant Deployers are required to review these Terms and conduct your own research to properly evaluate the risks and benefits of the Program.

  5. No Investment: You acknowledge that your MemeCoin and MemeCoin Project was created for fun, and that any trading activity or liquidity provision is simply to support the internet meme culture (such as green frogs, cats or dogs, wif or wifout hats) rather than any genuine expectation of profit or form of payment.

  6. Judging: The judging panel for the Program will consist of a panel selected by the Sponsor at its sole discretion. The judging panel's decisions are final and binding, subject to any applicable laws and regulations. The sponsor has the ability to override the decisions made by the judging panel at its sole discretion.

  7. Selection Criteria: Projects are eligible to be considered for selection if the MemeCoin has maintained a market capitalization of greater than USD $250,000 for over three (3) consecutive days. MemeCoin Project Finalists are chosen based on the highest number of points received . Points will be allocated as follows:

    1. Liquidity: 80% of points are to be awarded based on the quantum of Approved Liquidity provided on Approved DEXs.
    2. Volume: 20% of points are to be awarded based on the volume traded at an Approved DEX. NIL points to be awarded for volume traded at unapproved DEXes or on centralised exchanges.

  8. Reward: The total prize allocated to the competition is 1,000,000 S tokens, distributed as oS (a liquid staking token of S). To be divided as follows to the top 125 holders at a pro-rata rate according to their MemeCoin holdings:

    1. Winner 1 = 250,000 OS in total.
    2. Winner 2 = 175,000 OS in total.
    3. Winner 3 = 150,000 OS in total.
    4. Winner 4 = 125,000 OS in total.
    5. Winner 5 = 100,000 OS in total.
    6. Winner 6 = 85,000 OS in total.
    7. Winner 7 = 65,000 OS in total.
    8. Winner 8 = 50,000 OS in total.

  9. Timeline: The Program will operate from 7th February 2025 to 8th of March 2025 and at the expiry of the Term, the Review Period will commence from 9th of March 2025 and end on 21st March 2025. To the extent permitted by law, all dates and timelines are subject to change at the sole discretion of the Sponsor.

  10. Winner Notification: MemeCoin Project Finalists will be notified, within 5 days post the review period. If a potential MemeCoin Project Finalist cannot be contacted within seven (7) days of the first attempt to notify them, or if they fail to comply with these Terms, the reward will be forfeited, and an alternate MemeCoin Project Finalist may be selected based on the selection criteria.

  11. Publicity: By participating in the Program, the Participant Deployers agree to allow the Sponsor to use their name, logo, likeness, and submission for promotional purposes without further compensation or permission.

  12. Limitation of Liability: To the extent permitted by law all warranties, conditions or guarantees whether express, implied, statutory or otherwise, relating in any way to the Program or the Terms hereof are excluded. Under no circumstances will the Sponsor or any of its subsidiaries or affiliates will be liable to the Participant Deployers on account of any claim (whether based in contract, negligence or other tort, breach of any statutory duty or otherwise) for any special, consequential, indirect, incidental or exemplary damages, or for any loss of profits, revenue, interest, goodwill, loss or corruption of data or for any loss of or interruption to the Participant Deployers’ business, or for any damages or sums paid by the Participant Deployers to third parties. By participating in the Program, Participant Deployers agree to release and hold harmless the Sponsor or any of its subsidiaries or affiliates or Program organisers, its officers, directors, employees, contractors, and agents from and against any claim or cause of action arising out of participation in the Program or receipt or use of any reward.

  13. General: The Sponsor reserves the following rights:

    1. We reserve the right to cancel, suspend, or modify the Program, selection criteria or any rule, regulation, term or conditions with regard to the Program without notice to you at the Sponsor’s sole discretion for any reason or no reason at all..
    2. We reserve the right to disqualify any Participant Deployer who violates these Terms or any applicable law without requiring notification to the Participant Deployer(s).
    3. Participation in the Program constitutes the Participant Deployer’s full and unconditional agreement to these Terms and to each of the relevant terms cited in the subclauses below and incorporated by reference into this agreement. Failure to comply with these Terms may result in disqualification from the Program and forfeiture of any rewards:
      1. Terms and Conditions governing Sonic Labs relationship with visitors to Sonic Labs site accessible at https://soniclabs.notion.site/Sonic-Website-Terms-and-Conditions-87e482091a6443d3ab7476cfa751b977;
      2. Privacy Policy governing how we handle your data accessible at https://soniclabs.notion.site/Sonic-Privacy-Policy-9582d39482584ec2a2c04078dad04518;

  14. Compliance with Laws: The Participant Deployers warrant that they are compliant with and shall at all times during their participation in the Program remain compliant with all applicable laws, rules and regulations.

  15. Governing law and jurisdiction: These Terms shall be governed under the laws of Cayman Islands. In the event parties are unable to resolve any doubt, dispute or disagreement regarding these Terms through negotiations, such doubt, dispute or disagreement shall be resolved by way of Arbitration under UNCITRAL Arbitration Rules by the Cayman International Mediation & Arbitration Centre. The arbitration shall be conducted by one arbitrator in English and the place of arbitration shall be Cayman Islands, with access by video call.