Crypto News– The Avalanche Foundation, a supporter of the Avalanche blockchain network, has revealed the initial five memecoins within its ‘community coins holdings’ roster. These memecoins encompass tokens such as Coq Inu, Gecko, Kimbo, NoChill, and Tech. Integrating these coins into its portfolio aligns with the Foundation’s broader Culture Catalyst initiative, aimed at nurturing web3 creators.
Avalanche Foundation discloses ownership of five ‘community coins’
In a move announced last year, the foundation outlined its intention to acquire community coins specific to the Avalanche network. The selection process for these coins adheres to the Foundation’s guidelines, emphasizing their ‘high community value.’
According to the foundation, each community coin in its possession meets eligibility standards designed to evaluate its commitment to Avalanche and fair Web3 practices. These standards encompass factors such as launch fairness, resistance to snipe bots, security protocols, widespread holder distribution, minimal ownership concentration, sufficient liquidity provision, and specific thresholds for lifespan, market capitalization, and trading volume.
Moreover, the Avalanche Foundation disclosed its active evaluation of ERC-404 tokens as part of its continuous effort to broaden its scope for potential inclusion in its community coin holdings. This meticulous assessment underscores the foundation’s commitment to maintaining a dynamic and robust portfolio reflective of the evolving landscape of decentralized finance (DeFi) and digital assets.
By exploring ERC-404 tokens, the foundation aims to explore new avenues for community engagement and support within the broader ecosystem of blockchain technology. This process not only demonstrates the foundation’s dedication to embracing innovation but also signifies its proactive approach to adapting to emerging trends and opportunities within the cryptocurrency space.
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