The Avalanche Foundation today announced the launch of Meme Coin Rush, a $1 million liquidity mining incentive program aimed at boosting the meme coin ecosystem on the Avalanche blockchain. The Foundation will hand out rewards for providing liquidity for meme coin trading pools on certain DeFi platforms.

This initiative follows the Foundation’s recent acquisition of five Avalanche-based meme coins—the dog-themed Kimbo (KIMBO), chicken-themed Coq Inu (COQ), gecko-themed Gecko (GEC), technology joke token TECH, and NOCHILL—as part of its digital culture initiative.

“In the same tradition as the Foundation’s successful past incentive programs, Meme Coin Rush is designed to help scale liquidity and drive momentum, only this time for the community coin ecosystem on Avalanche,” the Avalanche Foundation said in an announcement shared with Decrypt.

Meme Coin Rush also mirrors the earlier Avalanche Rush program, which the Foundation said was instrumental in driving Avalanche DeFi growth when it kicked off in 2021.

In the first phase of the Meme Coin Rush program, Avalanche is launching liquidity incentives in partnership with SteakHut and Trader Joe, two Avalanche-native DeFi platforms. The Trader Joe exchange is Go to Source to See Full Article
Author: Jose Antonio Lanz

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