Avalanche Foundation to back meme coins only on its blockchain, new criteria says
Avalanche Foundation updates surprising investment strategy, now exclusively supporting assets minted only on the Avalanche blockchain . As per a recent blog post, Avalanche Foundation has announced its exclusive support for meme coins minted solely on the Avalanche blockchain. This surprising move, detailed in the blog update, signifies a departure from conventional investment approaches. According to the eligibility criteria , meme coins should have total liquidity of at least $200,000, with more than 50 liquidity providers. Although even recently launched meme coins can participate in the program, their fully diluted market capitalization should be at least $1 million, while an average daily trading volume should not be lower than $100,000 on “Avalanche ecosystem DEXes [decentralized exchanges] for at least two weeks.” “As such, the eligibility criteria outline the bare minimum characteristics that a community coin should possess in order to be taken into co...