The Culture Catalyst program of the Avalanche Foundation is now providing funding for select memecoins, non-fungible tokens (NFTs), and similar crypto assets. This initiative was launched in 2022 by Avalanche (AVAX), the non-profit organization behind the layer-1 blockchain. The foundation has recently released the eligibility requirements for community coins that wish to receive funding from the $100 million program.

According to a statement from the foundation, the eligibility criteria are designed to identify community coin 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 a minimum of two weeks.

In addition, the tokens must be at least one month old, and the top 100 holders should not own more than 60% of the coin’s total supply. The foundation emphasizes that these eligibility requirements represent the minimum characteristics that a community coin should possess to be considered, and additional criteria will be used to select and support coins.

The disclosure of the eligibility criteria serves to communicate the foundation’s values and provide guidance to the community. It is important to note that the foundation retains the right to decide which coins to include in the Culture Catalyst program at its sole discretion, and it may modify these eligibility criteria as it deems necessary.

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