Avalanche Foundation Releases Meme Coin Backing Eligibility Criteria

The Avalanche Foundation has released eligibility criteria designed to support Meme Coin. The organisation launched an "eligibility framework" on Tuesday to guide its unique efforts to acquire Meme coins, and the Avalanche Foundation has already begun using its $100 million Culture Catalyst programme to purchase The Avalanche Foundation has begun using funds from its $100 million "Cultural Catalyst" programme to purchase certain Meme coins. As part of this initiative, the Foundation is now introducing a set of eligibility criteria designed to identify community coin projects that demonstrate stability, growth potential, and a commitment to fair industry practices. To ensure a fair launch, Community Coins must relinquish ownership, burn or lock in initial liquidity, implement whale protection, and allocate zero reserves to the team. Specific criteria set by the Foundation for Community Coin eligibility as of January 2024 include: number of holders: the Community Coin must have at least 2,000 independent holders. Concentration: the top 100 token holders (excluding centralised exchanges) should collectively own less than 60% of the total supply. Liquidity: Projects need to maintain a total liquidity value of at least $200,000 or equivalent. Liquidity Providers: Projects should recruit 50 or more liquidity providers, unless a significant portion of the liquidity has been abandoned or burned. Lifespan: the project should exist for at least one month. Market Capitalisation: the project must have a fully diluted market capitalisation of $1 million or more. Daily Volume: The project is expected to maintain an average daily volume of at least $100,000 for two consecutive weeks on the Avalanche ecosystem decentralised exchange.