The non-profit organization Avalanche Foundation has revealed which coins it has invested in. As reported by The Block, the organization added five memcoins to its portfolio as part of the Culture Catalyst program. It has supported projects such as Coq Inu, Gecko, Kimbo, NoChill and Tech. The investment in memecoins is part of the Culture Catalyst program aimed at fostering Web3 creators.
In January 2024, the Avalanche Foundation announced plans to purchase a number of coins on the Avalanche network. When choosing assets, it 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 community value.
The Avalanche Foundation also mentioned that when choosing memcoins, it paid attention to characteristics such 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.
Image: The Block
