The non-profit organization Avalanche Foundation, which previously introduced investments in memecoins through the Culture Drive program, has unveiled updated criteria for project selection.

Representatives of Avalanche Foundation emphasized the importance of memecoins for society, based on their ability to engage users and shape culture. The team has established criteria for project selection that may receive support from the fund.

According to the established rules, a memecoin must have liquidity of at least $200,000 and a market capitalization of at least $1 million. It is recommended that the average daily trading volume over two weeks be at least $100,000. Additionally, the coin must have at least 2,000 holders to be considered by the fund for potential support.

Fund representatives also emphasized the need to create the memecoin on the Avalanche network and strict adherence to security criteria. This includes checking smart contracts at every stage of development, regular audits, and the use of automated analysis tools.

Furthermore, a prospective project must exist for at least one month, allowing the community to assess the token and make a decision, as stated in the foundation's statement.

Avalanche Foundation has issued an official statement in light of the recent growth of memecoins in various networks. Previously, we reported on a successful trader who earned $1.15 million with a memecoin on the Ethereum network. Another investor purchased the COQ token for $454 and made an impressive $2.19 million.