Introduction
The Avalanche Foundation, a non-profit organization dedicated to supporting the avalanche ecosystem, has recently unveiled the criteria for meme coins to participate in its active purchasing program. With the aim of providing clarity and transparency, the foundation has outlined specific requirements related to holder count, concentration, liquidity, liquidity providers, lifespan, and market cap. The foundation also mentioned that it continues to consider new projects on an ongoing basis.
Requirements for Eligibility
In order for a meme coin project to be considered for the Avalanche Foundation's purchasing program, it must meet several criteria:
1. Holder Count and Concentration
The project must have a minimum of 2,000 unique holders, ensuring a broad distribution of the token. Additionally, the top 100 token holders should collectively hold less than 60% of the total token supply. These requirements aim to prevent a small group of individuals from having excessive control over the project.
2. Liquidity
The meme coin project should have a liquidity value of at least $200,000. Furthermore, it should have 50 or more liquidity providers, unless a significant portion of the liquidity has been burned. Adequate liquidity ensures that the token can be easily bought and sold in the market.
3. Native Existence on AVAX Chain
The meme token should exclusively exist as part of the AVAX chain. This requirement ensures compatibility and seamless integration within the Avalanche ecosystem.
4. Market Cap and Trading Volume
The meme coin should have a fully diluted market cap exceeding $1 million. Additionally, it should have a trading volume of more than $100,000 in AVAX decentralized exchanges for a minimum of two weeks. These indicators demonstrate the token's market activity and potential for growth.
The Significance of Meme Coins
The Avalanche Foundation acknowledges that meme coins hold significant community value due to the engagement, community spirit, and culture they foster. Beyond their humor and viral nature, meme coins often create a sense of belonging and shared identity among their holders.
Additional Criteria
While meeting the aforementioned requirements is essential, it does not guarantee automatic investment from the foundation. The Avalanche Foundation reserves the right to utilize additional criteria to select meme coins for their Culture Catalyst program. The decision-making process remains at the foundation's sole discretion.
Share Your Thoughts
What are your thoughts on the requirements imposed by the Avalanche Foundation for meme coins to be eligible for their purchasing program? Feel free to share your opinions in the comments section below.
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By: Sergio Goschenko
Title: The Avalanche Foundation Announces Requirements for Meme Coins in Purchasing Program
Sourced From: news.bitcoin.com/avalanche-announces-eligibility-criteria-for-meme-coin-purchasing-program/
Published Date: Thu, 25 Jan 2024 22:30:36 +0000
