The Avalanche Foundation has introduced an eligibility framework for meme coins, outlining specific criteria for potential support.
As part of its $100 million “Culture Catalyst” initiative, the foundation aims to acquire meme coins that demonstrate stability, growth potential, and a commitment to fair practices.
Eligibility criteria include renouncing ownership, implementing measures against snipe bots, ensuring security through verified contracts and audits, and having a minimum lifespan, market cap, and daily trading volume.
Community coins must be native to the Avalanche ecosystem, emphasizing a commitment to the platform’s unique environment. The outlined criteria aim to foster a secure and robust ecosystem in alignment with the foundation’s values.
The Avalanche Foundation expresses its commitment to embracing creativity, culture, and community in the blockchain space, including meme coins, NFTs, and similar tokens under the term “community coins.”
By introducing an eligibility framework, the Foundation sets a precedent for evaluating and selecting these tokens. The crypto community closely observes as the Foundation explores cultural and creative aspects, particularly meme coins.
While the commitment to creativity is acknowledged, the community is vigilant, waiting to see how the Foundation addresses the inherent risks linked to meme coins in the long term.
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