The Avalanche Foundation, a nonprofit organization dedicated to supporting the Avalanche ecosystem, has disclosed the parameters for its ongoing meme coin purchasing initiative. The foundation has outlined specific requirements related to holder count, concentration, liquidity, liquidity providers, lifespan, and market cap that meme coin projects must satisfy to be considered for selection.
The announcement comes as part of the $100 million Culture Catalyst fund launched in 2022. To be eligible for these purchases, meme coin projects must have a minimum of 2,000 unique holders, with the top 100 holders holding less than 60% of the total supply. Additionally, the project should exhibit liquidity exceeding $200,000 and 50 or more liquidity providers, unless most of the liquidity has been burned.
The meme token should exclusively exist as part of the AVAX chain, with a fully diluted market cap exceeding $1 million and a trading volume of over $100,000 in AVAX decentralized exchanges for a minimum of two weeks.
The foundation emphasized the significance of these tokens, highlighting their high community value due to the engagement, community spirit, and culture they foster, extending beyond their humor and virality.
However, the foundation clarified that meeting these requirements does not guarantee automatic investment, and additional criteria will be applied. The foundation retains the right to determine the inclusion of coins in the Culture Catalyst program at its sole discretion.