The Avalanche Foundation released its criteria to attain which memecoins are eligible for buy in its $100 million Culture Catalyst program, the non-earnings organization introduced Tuesday morning.

The factors framework follows Avalanche’s announcement on Dec. 28, 2023 that it would put money into meme money. On Tuesday, the muse disclosed that it has already begun purchases of meme money, but did now now not answer to questions from Unchained in regards to the name of the money or how critical it has invested in them.

The disclosure that Avalanche’s Culture Catalyst program has bought tokens and set up eligibility criteria comes as meme money and the wider crypto market hang slid in cost currently.

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The foundation outlined a pair of eligibility criteria regarding security, maturity and recognition, amongst a lot of factors.

• Mission groups need to barely open the tokens, which contains whether or now now not the creator of the community token contract renounced ownership, whether or now now not the mission crew burned or adequately locked preliminary liquidity, whether or now now not the core contributors implemented protection measures in opposition to crypto whales, and whether or now now not founders reserved an allocation for themselves.
• The tokens desires to be proof in opposition to snip bots, or automatic purchasing and selling algorithms tasked with executing trades and taking excellent thing about tag differentials in markets, in total in a matter of milliseconds.
• The money desires to be stable, which manner community contributors, mavens and crew contributors hang verified, audited and performed due diligence on the creator’s take care of and the token’s contract.
• The coin must hang on the least 2,000 recurring holders, bigger than $200,000 in full liquidity, a absolutely diluted market capitalization of on the least $1 million, and a median day by day purchasing and selling quantity exceeding $100,000 on Avalanche decentralized exchanges.
• The token’s high 100 holders need to collectively possess now now not up to 60% of the full provide and
• The coin must hang bigger than 50 liquidity providers.
• Tokens desires to be older than one month.

“The eligibility criteria outlines the naked minimum traits that a community coin need to collected win in advise to be taken into consideration,” wrote the non-earnings. “The Foundation’s efforts to augment community money are performed on an ongoing foundation. This permits newly rising money to potentially seize half in the program as soon as they meet the minimum eligibility criteria,” it added.