Crypto News – In addition to other recently disclosed requirements from the Avalanche Foundation, which recently broadened the scope of its fund to include what it refers to as “community coins,” meme coins based on an avalanche that wish to partake in a $100 million fund must be at least one month old.
Avalanche Fund Criteria: Meme Coins Must Be At Least 1 Month Old
The $100 million “Culture Catalyst” fund, which was first established to invest in NFT artists, received a set of flexible criteria for memecoin selection from the Avalanche Foundation in a blog post on January 23. A minimum of 2,000 unique holders, at least $200,000 in liquidity from 50 different providers, and the project “should be in existence for at least one month” were among the strict minimum eligibility conditions that the foundation mentioned, while many of its criteria were adjustable.
Many Analysts criticized the Change in Funding Criteria
Market analysts expressed surprise when the foundation first revealed that their fund had grown to include meme coins in late December 2023; some even mocked the organization for such an ungrateful and desperate step. The Avalanche Foundation stated that it has already begun investing money in community coins through its Culture Catalyst program, in spite of the negative reaction.