Updated: March 15, 2024, 1:25 AM EDT
that much avalanche Avex
-3.70%
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.
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