Reward for Liquidity Providers: Avalanche Advances Meme Coin Strategy with $1 Million Reward

Crypto News – In an effort to boost community-owned coins inside its ecosystem, the Avalanche Foundation is expanding its focus on meme coins and launching a liquidity mining incentive program.

Reward for Liquidity Providers: Avalanche Advances Meme Coin Strategy with $1 Million Reward

In order to incentivize traders and liquidity providers of community coins based on Avalanche, the foundation launched “Memecoin Rush” on March 21. This program offers $1 million in Avalanche tokens.

The DeFi platforms SteakHut and Trader Joe’s will host the program’s initial phase. According to Avalanche, these platforms will provide liquidity techniques and incentives for trading community tokens within the network. The statement states that liquidity providers on memecoin liquidity pools (Coq, NoChill, Tech, and Kimbo) paired with the AVAX token would receive rewards. Another thing that Avalanche made clear is that the project wants to present its blockchain as a platform for innovative art and culture. The initiative must be at least one month old, according to the Avalanche Foundation.