The non-profit organization Avalanche Foundation has disclosed information about coin reserves. The fund has added five new memecoins to its portfolio as part of the Culture Catalyst program, reports The Block.
As it became known, the organization supported such projects as Coq Inu, Gecko, Kimbo, NoChill and Tech. The investment in memecoins is part of the Culture Catalyst program aimed at “stimulating the development of Web3.”
In January 2024, the fund announced plans to acquire a number of coins on the Avalanche network. When choosing assets, he was guided by a number of criteria, including liquidity, capitalization, average daily trading volume, and so on. In addition, the Avalanche Foundation emphasized that such tokens should have high value for society.
The foundation also mentioned that when choosing memcoins, it paid attention to such characteristics as security measures, number of holders, and resistance to hacker attacks. The team is currently evaluating ERC-404 tokens to expand the list of community assets.
Source: Cryptocurrency
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