Eligibility requirements for Avalanche’s meme coin purchase plan “Culture Catalyst” revealed

Meme coin selection criteria

Avalanche Foundation, which supports the cryptocurrency AVAX ecosystem, announced on the 23rd the details of “Culture Catalyst,” a measure aimed at community promotion. The plan is to revitalize the community through the purchase of meme coins (‘community coins’).

In this plan, the criteria for selecting meme coins emphasizes fairness, and a fair launch that is not biased against specific developers or programmers is required. In addition, measures will be taken to prevent market domination by large investors (whales) in the early stages of purchase, and AVAX users/holders will be encouraged to have favorable starting conditions and access to whitelists.

The target meme coins must be generated on the Avalanche blockchain and be independent from the issuer. Additionally, the development team must relinquish ownership of the mint contract, and there must be no early mass distribution by a specific team or duplicate tokens on other blockchains.

Additionally, tokens that are monopolized by large investors, have not been vetted by security companies, or are launched without being whitelisted are excluded from the program.

Eligibility criteria include the following conditions:
– At least 2,000 meme coin holders
– The share held by the top 100 people is less than 60% of the total supply
– At least $200,000 in liquidity provided by at least 50 contributors
– Market capitalization of at least $1 million and average daily trading volume for two weeks of at least $100,000
– At least one month has passed since the meme coin was issued.

connection:Some stocks soar after Avalanche Foundation announces meme coin purchase plan

Community coin definition

The Avalanche Foundation emphasizes that meeting these criteria does not guarantee the purchase of meme coins, and that the criteria are flexible. “Publishing the eligibility criteria will clarify the Foundation’s values ​​and provide direction to the community.” We reserve the right to make changes.”

Memecoin is a virtual currency rooted in internet parody and humor that has gained widespread recognition due to its viral nature. The Avalanche Foundation fully supports meme coins, seeing them as an expression of creativity and culture in the blockchain space.

The Foundation also includes NFTs and other tokens created by the community, which it considers “community coins” in the broadest sense. Culture Catalyst aims to strengthen creative cultural expression and engagement between users using blockchain technology.

When Culture Catalyst was announced late last year, the price of some meme coins on the Avalanche blockchain briefly soared, with COQ increasing by 50.8%, HUSKY by 116.9%, and SHIBX by 16%.

Fair launch arrangements

Furthermore, when “Community Coin” is launched, measures will be taken to provide fair trading opportunities to users who meet conditions such as frequency of AVAX usage.

These measures are being introduced to ensure early access to coins for Avalanche community members, while also stabilizing price and liquidity. We aim to improve equity and community engagement.

connection:“Altcoin season” has arrived, with meme coins BONK, ORDI, PoW-based KAS, etc. achieving record increases

The post Eligibility requirements for Avalanche’s meme coin purchase plan “Culture Catalyst” revealed appeared first on Our Bitcoin News.