The Culture Catalyst program, launched by the Avalanche Foundation in 2022, is providing funding for select memecoins, non-fungible tokens (NFTs), and similar crypto assets. The non-profit organization, which operates the Avalanche blockchain (AVAX), aims to support community coins that promote culture and engagement.
According to a recent statement, the foundation has now established the eligibility requirements for community coins seeking funding from the $100 million program. These criteria are designed to identify projects that demonstrate stability, growth potential, and a commitment to fair practices in the crypto industry.
To be eligible, coins must have at least 2,000 unique holders, a total liquidity of at least $200,000 (or equivalent), a minimum of 50 liquidity providers, a fully diluted market capitalization of $1 million or more, and an average daily trading volume of at least $100,000 on AVAX-based decentralized exchanges for at least two weeks. Additionally, the tokens must be at least one month old, and the top 100 holders should own less than 60% of the coin’s total supply.
While these requirements serve as the minimum characteristics for consideration, the foundation will apply additional criteria to select and support coins. By disclosing the eligibility criteria, the foundation aims to express its values and provide guidance to the community. However, it reserves the right to determine which coins to include in the Culture Catalyst program and may alter the eligibility criteria as it deems necessary.
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