Avalanche Foundation Introduces Eligibility Criteria for Meme Coins
The Avalanche Foundation has unveiled a set of eligibility criteria for meme coins that it may consider supporting. These criteria are part of the foundation’s effort to acquire meme coins using funds from its “Culture Catalyst” initiative, which is dedicated to cultural projects.
A Focus on Stability, Growth Potential, and Fair Practices
The eligibility criteria introduced by the Avalanche Foundation aim to identify meme coin projects that demonstrate stability, growth potential, and a commitment to fair practices in the industry. The foundation emphasizes the importance of community involvement and sustained market presence.
To ensure a fair launch, meme coin creators must adhere to specific requirements. These include renouncing ownership, burning or locking initial liquidity, implementing measures against snipe bots, and allocating no reserves for the team. Verified contracts, audits, and community due diligence are also emphasized for security purposes.
2024 Community Coin Criteria
Starting in January 2024, the specific criteria outlined by the Avalanche Foundation for community coins’ eligibility are as follows:
- Holder Count: The community coin must have a minimum of 2,000 unique holders.
- Concentration: The top 100 token holders (excluding centralized exchanges) should collectively own less than 60% of the total supply.
- Liquidity: The project must maintain a total liquidity value of at least $200,000 or its equivalent.
- Liquidity Providers: The project should enlist 50 or more liquidity providers unless a significant portion of the liquidity has been renounced or burned.
- Lifespan: The project should have been in existence for a minimum period of one month.
- Market Cap: The fully diluted market capitalization of the project must be $1 million or more.
- Daily Trading Volume: The project is expected to maintain an average daily trading volume of at least $100,000 on Avalanche ecosystem decentralized exchanges for a consecutive two-week period.
Hot Take: Avalanche Foundation Sets Criteria for Meme Coins
The Avalanche Foundation has introduced eligibility criteria for meme coins, providing guidelines for their acquisition and support. These criteria focus on stability, growth potential, and fair practices in the industry. Meme coin creators must meet specific requirements related to ownership, liquidity, security, and community involvement. Starting in 2024, community coins must also meet certain criteria regarding holder count, concentration, liquidity, lifespan, market cap, and daily trading volume. These criteria aim to contribute to a robust and secure ecosystem within the Avalanche blockchain. By setting these guidelines, the Avalanche Foundation aims to foster the development of meme coins that align with its values and contribute positively to the crypto industry.
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