Avalanche Foundation Unveils Criteria For Meme Coin Portfolio In $100M Program

The Avalanche Foundation, overseeing the development of the Avalanche network, has outlined eligibility criteria for meme coins seeking inclusion in its portfolio through the $100 million Culture Catalyst Program.

These criteria focus on stability, growth potential, and a commitment to fair practices, emphasizing the importance of a fair launch without reserved tokens for founders and limited supply concentration among crypto whales. Described as a source of “community value,” “culture,” and “engagement,” meme coins fall under the broader investment category of “community coins.” To qualify for Avalanche’s investment, meme coins must have at least 2,000 unique holders, a fully diluted market cap of $1 million, and ensure that the top 100 owners collectively hold no more than 60% of the total supply.

Additionally, they should maintain an average daily trading volume of $100,000 across two Avalanche decentralized exchanges for a minimum of two weeks and possess a total liquidity of at least $200,000 with a minimum of 50 liquidity providers. The Foundation has already deployed capital into certain community coins as part of the program, holding over $90 million worth of undeployed assets for the Culture Catalyst initiative. Following the program’s announcement in December, Avalanche-based meme coins like Husky Avax experienced a notable rise, though the gains have since subsided.

Clever Robot News Desk 24^th January 2024