Avalanche Foundation outlines meme coin buying policy
The new rules prioritize fairness, security, stability, market presence, and community engagement.
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The Avalanche Foundation announced today a detailed buying policy that meme coin projects must meet to qualify for its Culture Catalyst program. By establishing transparent guidelines, the Foundation aims to promote the development of authentic community-driven projects on the Avalanche blockchain.
To be eligible, meme coins must demonstrate fair launches that prevent unfair advantages and ensure community ownership. Projects should implement anti-sniping measures like whitelists to provide genuine community members with a fair chance at participation.
Meme projects must also adhere to best security practices including audits, verified contracts, and community due diligence to ensure a secure and trustworthy user environment.
Additionally, the Foundation set concrete benchmarks for quantitative criteria, including:
- A minimum of 2,000 unique token holders, with the top 100 holders, excluding centralized exchanges and holding less than 60% of the total supply.
- More than $200,000 in liquidity.
- 50 or more liquidity providers.
- A minimum lifespan of one month.
- A market cap above $1 million.
- An average daily trading volume of at least $100,000 on Avalanche DEXes for at least two weeks.
With the new guidelines and requirements, the Avalanche Foundation wants to encourage the development of projects that not only entertain but also foster a sense of community belonging, and engagement. Moreover, it also aims to promote a diverse and inclusive ecosystem.
Launched last year, the Foundation’s Culture Catalyst program is designed to support initiatives, including meme coins, NFTs, and other tokens created that focus on cultural engagement and community building.