The Avalanche Foundation, supporting the Avalanche blockchain, has revealed holding 5 meme coins.
Last year, the Avalanche Foundation announced its plan to invest in meme coins in the Avalanche ecosystem to support community growth. Now, the foundation has announced the projects it invested in.
According to the announcement made by the team on March 14th, investments were made in Coq Inu (COQ), Gecko Inu (GEC), Kimbo (KIMBO), AVAX HAS NO CHILL (NoChill), and Tech’e.
COQ saw a 100% increase in the past week, KIMBO saw a 120% increase, NoChill saw a 130% increase, and GEC saw a 170% increase.
The foundation previously stated that the projects it would invest in would include a vision for creating a stronger culture within the Avalanche ecosystem.
Each coin held by the foundation meets the suitability criteria set by the foundation for coin projects. These criteria are designed to evaluate a particular coin’s commitment to Avalanche and fair Web3 applications.
In addition, the meme coins to be purchased by the Avalanche Foundation must also have at least 2,000 investors, with the top 100 investors controlling less than 60% of the total supply, at least 50 liquidity providers offering at least $200,000 liquidity, at least a $1 million market value, and at least $100,000 daily trading volume within a two-week timeframe.
