The Avalanche Foundation, known for its involvement in the Avalanche blockchain, has recently announced a comprehensive eligibility framework aimed at meme coins. This initiative is part of the foundation’s $100 million Culture Catalyst project, which focuses on cultural projects within the crypto space.
Key elements of this framework include criteria designed to ensure community coin projects are stable, have growth potential, and adhere to fair practices in the industry. Essential requirements for community coins include renouncing ownership, burning or locking initial liquidity, implementing whale protection, and excluding team reserves. Additionally, coins must have verified contracts, undergo audits, ensure community due diligence, and utilize automated security tools.
The Foundation has specified quantitative criteria for meme coins to be eligible for support. These include having at least 2,000 unique holders, ensuring the top 100 token holders own less than 60% of the total supply, maintaining total liquidity of a minimum of $200,000, having over 50 liquidity providers, a minimum lifespan of one month, a fully diluted market cap of $1 million or more, and an average daily trading volume of at least $100,000 on Avalanche ecosystem decentralized exchanges for two consecutive weeks.
This move by the Avalanche Foundation highlights the increasing importance of meme coins in the crypto culture and market. By setting clear criteria, the foundation aims to support promising projects within its ecosystem, emphasizing community involvement and sustained market presence.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
