Coq Inu

Foundation

Read

Avalanche

Husky

Avalanche Foundation updates surprising investment strategy, now exclusively supporting assets minted only on the Avalanche blockchain. 
As per a recent <a href="https://www.avax.network/blog/avalanche-foundation-eligibility-criteria-framework-for-community-coins" target="_blank" rel="noopener">blog post</a>, Avalanche Foundation has announced its exclusive support for <a href="https://crypto.news/tag/memecoin/" target="_blank" rel="noreferrer noopener">meme coins</a> minted solely on the <a href="https://crypto.news/tag/avalanche/" target="_blank" rel="noreferrer noopener">Avalanche</a> 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.” 
<blockquote class="wp-block-quote"> 
 “As such, the eligibility criteria outline the bare minimum characteristics that a community coin should possess in order to be taken into consideration. Meeting the eligibility criteria does not imply that the Foundation will support a coin.” 
 Avalanche Foundation 
</blockquote> 
 You might also like: <a href="https://crypto.news/avalanche-up-132-percent-market-cap-surges-13-billion/"> Avalanche is up 132% since last year, market cap surges to over $13b </a> 
A notable revelation in the update is the foundation’s decision not to back any meme coin existing in the broader market, but to exclusively focus on those coins that “natively exist only within the Avalanche ecosystem.” The foundation also asserted its right to exercise sole discretion in determining the coins to be included in the Culture Catalyst program and to modify eligibility criteria as deemed appropriate. 
While Avalanche Foundation claims to have already deployed capital into community coins through its Culture Catalyst program, specific details about these meme coins have not been disclosed publicly. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="390" src="https://crypto.news/app/uploads/2024/01/osudhf-1024x390.png" alt="Avalanche Foundation to back meme coins only on its blockchain, new criteria says - 46" class="wp-image-14241860">
</figure> 
According to <a href="https://cryptoslate.com/blockchain/avalanche/" target="_blank" rel="noreferrer noopener">data</a> from CryptoSlate, only one meme coin in the Avalanche ecosystem, Coq Inu (COQ), experienced nearly a 14% price increase after the update was published. However, it remains unclear whether Avalanche Foundation has chosen to back this particular project, considering the presence of other meme coins minted on the Avalanche blockchain, such as Husky (HUSKY) and Shibx (SHIBX). 
 Read more: <a href="https://crypto.news/avalanche-foundation-to-spend-culture-catalysts-funds-on-select-meme-coins/"> Avalanche Foundation to spend Culture Catalyst’s funds on select meme coins </a>

Avalanche Foundation to back meme coins only on its blockchain, new criteria says

crypto.news

Alte articole publicate pe 24 ian. 2024

Flare Price Retraces 20-Day EMA: A Reversal or a Correction?

These Altcoins Have Been on the Rise for Over 48 Hours While Bitcoin Continues to Flounder

Crypto Giant Nexo Seeks $3 Billion in Damages from Bulgaria

REV3AL Announces Liquidity Locker Service Launch and Trust Wallet Listing Amidst Record Token Growth

Hut 8 Corp. challenges short-seller report, claims financial solidity

Best Crypto to Buy Now January 24 – Celestia, VeChain, Sei

Join our free newsletter for daily crypto updates!