As you may remember, in the last days of last December, Avalanche Foundation announced that it would purchase some mem tokens within the scope of the Culture “Catalyst program”.
The foundation also said that these meme tokens will be based only on AVAX.
According to Coindesk, a new statement came from the Avalanche Foundation today regarding the purchase of Mem Tokens.
Accordingly, AVAX Foundation stated that several mem tokens were purchased with a portion of the 100 million dollar fund, but did not disclose which mem tokens were purchased.
The statement included the following statements regarding the criteria that the mem tokens to be purchased should meet:
“First of all, the mem tokens to be purchased will only be available in the Avalanche ecosystem.
It is imperative that the community support given to the selected mem tokens is strong.
In addition, meme tokens to be purchased by Avalanche Foundation must have at least 2,000 investors and the 100 largest investors must control less than 60% of the total supply of the relevant meme token.
The mem token to be purchased must have a market value of at least 1 million dollars and a transaction volume of at least 100 thousand dollars per day within a two-week period.
“In addition, the meme token to be purchased must have been on the market for at least 1 month so that the community can recognize and understand the token.”
AVAX continues to trade at $27.9 despite the overall decline.
*This is not investment advice.