Avalanche announced it would incentivize traders and liquidity providers of select memecoin tokens in its network.
Avalanche, which started to dive into memecoins in December, has announced it will use a $100 million fund to buy Avalanche-based community tokens.
According to the announcement, rewards will be given to liquidity providers on liquidity pools of memecoins Coq, NoChill, Tech and Kimbo paired with the AVAX token. It also highlighted that the initiative aims to position its blockchain as a network that supports new forms of creativity and culture.On Jan. 24, Avalanche clarified that not all memecoins will get a piece of the $100 million fund. The foundationThe Avalanche foundation also said that the project should be a month old at minimum.
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