- The Avalanche Foundation has unveiled the Culture Catalyst program, targeting meme coins, NFTs, and similar tokens.
- The criteria encompass key aspects such as a fair launch, resistance to snipe bots, security measures, and more.
- The Culture Catalyst program, an ongoing effort by the Foundation, aims to celebrate the unique culture within the crypto space
The Avalanche Foundation is spearheading a groundbreaking initiative to cultivate creativity, culture, and community engagement on the Avalanche blockchain. In a move to support and nurture community-driven projects, the Foundation has unveiled the Culture Catalyst program, targeting meme coins, NFTs, and similar tokens that embody the spirit of culture and camaraderie within the blockchain space.
To be considered for support, community coins must meet a set of eligibility criteria designed to ensure stability, growth potential, and a commitment to fair practices. The criteria encompass key aspects such as a fair launch, resistance to snipe bots, security measures, widespread ownership, a low concentration of token holdings, and liquidity provisioning.
Notably, the Foundation emphasizes the importance of a fair start for community coins, with specific requirements such as renounced ownership, burned or locked initial liquidity, and measures to resist snipe bots. The eligibility criteria also include a call for secure practices, a high holder count, a low concentration of token ownership by whales, and broad liquidity provisioning.
As of January 2024, the Foundation has specified concrete numerical thresholds for certain criteria. For instance, community coins should have at least 2,000 unique holders, the top 100 token holders (excluding exchanges) should own less than 60% of the total supply, and the project should maintain a minimum liquidity of $200,000. The initiative also encourages a minimum project lifespan of one month, a fully diluted market cap of $1 million or greater, and a daily trading volume of at least $100,000 on Avalanche DEXes for two weeks.
The Culture Catalyst program, an ongoing effort by the Foundation, aims to celebrate the unique culture within the crypto space and foster a more inclusive and diverse ecosystem. The Foundation anticipates that this initiative will strengthen the Avalanche community by providing ongoing support to emerging coins that meet the minimum eligibility criteria.
In a statement, the Foundation expressed excitement about the program’s potential to enhance the vibrant culture of the crypto space and build a more robust and connected Avalanche community.