The Avalanche Foundation has started the first phase of Memecoin Rush, a program with $1 million in liquidity mining incentives aimed at boosting the community coin ecosystem on the Avalanche (AVAX) blockchain.
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Announced in a blog post, this initiative will start by collaborating with SteakHut and Trader Joe, two well-known platforms on Avalanche. They will incentivize trading and offer liquidity for chosen community tokens like Kimbo (KIMBO), Gecko Inu (GEC), Coq Inu (COQ), TECH, and NOCHILL.

SteakHut’s Liquidity Mining Program

SteakHut, known for its dynamic liquidity management and decentralized market making, is launching a liquidity mining program. Through this initiative, rewards will be distributed across various trading pairs using the Uniswap V3 liquidity mining program. Tokens such as COQ, NOCHILL, TECH, and KIMBO will be included in this program.
Trader Joe’s Staking Vaults: Trader Joe is introducing incentives through single-sided, time-locked staking vaults tailored for specific tokens. These tokens will be selected based on holder and market cap criteria.

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Earning Rewards: Participants can earn rewards by staking into pools. Rewards will be distributed in AVAX and community coins like COQ and KIMBO at the end of a specified period.
Avalanche Foundation’s Memecoin Rush Launch
The Avalanche Foundation has launched the first phase of Memecoin Rush, following its recent acquisition spree of community coins. This initiative was prompted by the introduction of an eligibility framework for supported tokens.
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A significant portion of the Foundation’s $100 million NFT incubator fund has been allocated for purchasing these tokens. Criteria for selection include positive social sentiment, significant holders, liquidity, and project maturity.

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Eric Kang, BD Manager at Ava Labs, highlighted the importance of meme coins within the web3 space, emphasizing their representation of the uniqueness and interests of diverse crypto communities.
Memecoin Rush will provide a platform for users to explore the diversity of defi protocols native to Avalanche and engage with vibrant communities at the forefront of cultural expression on the platform.
By incentivizing liquidity provision and active participation, Memecoin Rush aims to foster broader support and adoption for Avalanche-native tokens.
How to Participate: Users can participate in Memecoin Rush by adding liquidity to meme coin pairs on SteakHut or by staking in meme vaults on Trader Joe.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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#Avax is still down by 85.62% from it's all time high $146.22.The price has been in a downtrend for quite some time. A recovery occurred from the $8.70 level, and rise up to $24.70 was impressive.Can AVAX Reach $100 Dollars? According to Coinpedia's AVAX price prediction, the altcoin may reach a price of $103 by the end of 2027 and create a new all-time high of $172 by 2029. Moreover, the previous years are expected to be bullish but with a slow momentum.#Avax

The cryptocurrency market is known for its volatility, and for investors, it's essential to stay informed about the latest movers and shakers. Over the past week, several cryptocurrencies have seen impressive gains, offering potential opportunities for those looking to capitalize on market trends. Here's a roundup of some of the best-performing cryptocurrencies from the last week.Bitcoin (BTC): Bitcoin, the pioneer cryptocurrency, showed resilience and posted significant gains over the past week. As a bellwether for the market, Bitcoin's positive movement often sets the tone for other cryptocurrencies.Ethereum (ETH): Ethereum, the second-largest cryptocurrency by market capitalization, experienced notable gains. The ongoing developments in the Ethereum ecosystem, including the transition to Ethereum 2.0 and the growing popularity of decentralized finance (DeFi) projects, contributed to its positive performance.Solana (SOL): Solana, known for its high throughput and low transaction fees, continued to attract attention. The blockchain platform has gained popularity for hosting various decentralized applications (DApps) and NFT projects, contributing to its recent surge.Cardano (ADA): Cardano, with its focus on scalability, sustainability, and interoperability, demonstrated impressive gains. The platform's adherence to a research-driven approach and recent upgrades have bolstered investor confidence.Binance Coin (BNB): Binance Coin, the native cryptocurrency of the Binance exchange, recorded substantial gains. The exchange's active role in the crypto space and the popularity of BNB for transaction fee payments contributed to its positive momentum.Avalanche (AVAX): Avalanche, a blockchain platform known for its fast transactions and custom blockchain creation, witnessed a surge in value. The platform's ability to support a wide range of decentralized applications and attract developers has fueled its recent success.Polygon (MATIC): Polygon, a scaling solution for Ethereum, saw significant appreciation in its token value. As the demand for layer 2 scaling solutions grows, projects like Polygon, offering faster and cheaper transactions on the Ethereum network, are gaining traction.Ripple (XRP): Ripple's XRP, a cryptocurrency often associated with cross-border payments, exhibited positive movement. Legal developments and partnerships in the financial industry have influenced XRP's recent performance.It's important to note that the cryptocurrency market is dynamic and can be influenced by various factors, including market sentiment, regulatory developments, and technological advancements. While these cryptocurrencies showed gains over the past week, investors should conduct thorough research and consider their risk tolerance before making investment decisions.As with any investment, it's crucial to stay informed and be aware of the potential risks associated with cryptocurrency trading. Markets can be unpredictable, and prices may experience sudden fluctuations. Always approach investment decisions with caution and consider seeking advice from financial professionals.#BTC #ETH #ADA #BNB #Avax