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Home»ADOPTION NEWS»Five community coins held by the Avalanche Foundation revealed
ADOPTION NEWS

Five community coins held by the Avalanche Foundation revealed

By Crypto FlexsMarch 15, 20242 Mins Read
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Five community coins held by the Avalanche Foundation revealed
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Posted 1 minute ago In ~

Updated: March 15, 2024, 1:25 AM EDT

that much avalanche Avex

-3.70%
The foundation that powers the Avalanche blockchain network has released the first five coins that are part of its “community coin reserve.”

These include meme coins such as Coq Inu, Gecko, Kimbo, NoChill, and Tech. The inclusion of this coin in the portfolio is part of the foundation’s broader Culture Catalyst program, which claims to “cultivate web3 creators.”

Last year, the foundation declared its intention to acquire community coins associated with the Avalanche network. The coin’s selection process follows the foundation’s guidelines and emphasizes “high community value.”

“Each Community Coin held by the Foundation complies with the eligibility guidelines established by the Foundation for Community Coin Projects. These criteria are designed to evaluate a particular coin’s commitment to Avalanche and fair Web3 practices,” the foundation said.

These criteria include fair launch, resistance to sniping bots, security measures, high number of holders, low ownership concentration, provision of adequate liquidity, minimum requirements for longevity, market capitalization and trading volume.

The foundation also noted that it is currently evaluating ERC-404 tokens to expand its list of community coin holdings. We also clarified that we may modify community coin holdings and adjust the criteria for eligible community coins in the future.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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