{"id":10385,"date":"2024-01-24T11:46:07","date_gmt":"2024-01-24T11:46:07","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=10385"},"modified":"2024-01-24T11:46:28","modified_gmt":"2024-01-24T11:46:28","slug":"avalanche-foundation-publishes-memecoin-criteria","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/avalanche-foundation-publishes-memecoin-criteria\/","title":{"rendered":"Avalanche Foundation Publishes Memecoin Criteria!"},"content":{"rendered":"

The Avalanche<\/strong> Foundation recently announced a $100 million<\/strong> Memecoin fund. The criteria for Memecoins to benefit from this fund have been revealed.<\/p>\n

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You might like: Binance (Bitcoin Exchange) to Delist These Altcoins!<\/span><\/strong><\/em><\/a><\/p>\n<\/blockquote>\n

The most important criterion is that the Memecoin<\/strong> must have been on the market for at least one month. The Avalanche<\/strong> Foundation shared a blog post about these criteria on its blog page on January 23. This article provides a set of flexible criteria for Memecoin selections for the $100 million<\/strong> \u201cCulture Catalyst<\/em>\u201d fund.<\/p>\n

Click here <\/strong><\/em><\/span><\/a>to reach the article that was prepared by Avalanche<\/p>\n

What are the requirements?<\/strong><\/p>\n

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  • All eligible meme tokens must have their contracts renounced.<\/li>\n
  • It must have a low ownership density among whales.<\/li>\n
  • It must have a high level of liquidity.<\/li>\n<\/ul>\n

    The article written by the foundation states that these criteria may be flexible. However, the following criteria were stated to be definite:<\/p>\n

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    • 2,000 unique holders<\/li>\n
    • At least $200,000<\/strong> in liquidity from 50 different providers<\/li>\n
    • The project must have existed for at least one month<\/li>\n<\/ul>\n

      Everyone knows that Memecoins are inherently worthless, and project owners do not deny it either. This fund was first mentioned in a post by the Avalanche<\/strong> X account towards the end of December 2023. This was met with raised eyebrows by market commentators, and some mocked the organization for its \u201cdesperate and inappropriate\u201d move.<\/p>\n

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      Last year, the Avalanche Foundation launched Culture Catalyst, a program aimed at empowering creators, sparking innovation, and propelling the adoption of blockchains. This initiative seeks to better position Avalanche to cultivate and support the many new forms of creativity,\u2026<\/p>\n

      — Avalanche \ud83d\udd3a (@avax) December 29, 2023<\/a><\/p><\/blockquote>\n