Avalanche Foundation Announces Eligibility Criteria for Community Coin Funding
The Avalanche Foundation has unveiled the eligibility requirements for community coins seeking funding from its Culture Catalyst program. The non-profit organization launched the initiative in 2022 to support community coins that promote culture and engagement. According to the foundation, eligible coins must have a minimum of 2,000 unique holders, a total liquidity of at least $200,000 or equivalent, a minimum of 50 liquidity providers, a fully diluted market capitalization of $1 million or more, and an average daily trading volume of at least $100,000 on AVAX-based decentralized exchanges for at least two weeks. Additionally, the tokens should be at least one month old and the top 100 holders should not own more than 60% of the coin’s total supply. The foundation reserves the right to select and support coins based on additional criteria.
Hot Take: Avalanche Foundation Sets Criteria for Community Coin Funding
The Avalanche Foundation has established the eligibility criteria for community coins seeking funding from its Culture Catalyst program. To be considered for funding, eligible coins must meet specific requirements related to holders, liquidity, market capitalization, trading volume, and token age. By setting these criteria, the foundation aims to identify community coin projects that demonstrate stability, growth potential, and a commitment to fair practices in the crypto world. While these eligibility requirements represent the minimum characteristics needed for consideration, the foundation retains sole discretion in selecting and supporting coins. This move by Avalanche highlights its dedication to fostering innovation and engagement within its blockchain ecosystem.
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