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Cryptocurrency News Articles
Avalanche Foundation Unleashes $1 Million Liquidity Mining Program for Meme Coin Frenzy
Mar 21, 2024 at 11:30 pm
Meme Coin Mania: Avalanche Foundation Launches $1 Million Liquidity Mining Program
What's the Avalanche Foundation Up to?
The Avalanche Foundation has kicked off Meme Coin Rush, a $1 million liquidity mining incentive program designed to fuel the growth of meme coins on the Avalanche blockchain. This move follows the Foundation's recent acquisition of five Avalanche-based meme coins: Kimbo (KIMBO), Coq Inu (COQ), Gecko (GEC), TECH, and NOCHILL.
How Does Meme Coin Rush Work?
Mirroring the successful Avalanche Rush program, Meme Coin Rush will distribute rewards to users who provide liquidity to meme coin trading pools on specific DeFi platforms. In the first phase, the Foundation has partnered with SteakHut and Trader Joe, two Avalanche-native DeFi platforms.
SteakHut and Trader Joe: A Liquidity Boost
On SteakHut, the Foundation will use Uniswap V3 to incentivize liquidity provision for meme coins. This aims to reduce volatility, increase liquidity, and stimulate trading activity.
Meanwhile, on Trader Joe, the Foundation will launch incentives for "single-sided, time-locked staking vaults" for select tokens based on holder and market cap criteria. Users will earn rewards for staking into these pools, reducing token supply and potentially driving up their value.
What's the Appeal of Meme Coins?
Meme coins are cryptocurrencies inspired by internet memes or jokes. Initially conceived as a playful way to engage with the crypto community, they have evolved into a legitimate - albeit highly volatile - investment for some. Dogecoin, a parody of Bitcoin, is perhaps the most well-known example.
Why Avalanche?
While meme coins have primarily flourished on Ethereum and Solana, the Avalanche Foundation aims to change that. "Meme coins have become a cornerstone of Web3, representing the individuality and passions of diverse crypto communities," said Eric Kang, BD Manager at Ava Labs. "Meme Coin Rush will showcase the breadth of Avalanche-native DeFi protocols and engage vibrant communities at the forefront of culture on Avalanche."
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- Oranje Prepares to Acquire Over $200M in BTC, Mimicking Michael Saylor's Strategy in Brazil and Latin America
- Apr 29, 2025 at 09:50 pm
- A new challenger in the institutional bitcoin arena is about to rise, based in Latin America. According to local media, Itau BBA, the investment bank of Itau, the largest banking corporation in Latam, is an advisor in the process that will give rise to Oranje, a company whose priority would be the accumulation of bitcoin as part of its treasury strategy.
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- AUSTRAC Threatens Inactive Digital Currency Exchanges (DCEs) to Either Use Their Exchange or Lose It
- Apr 29, 2025 at 09:35 pm
- The Australian Transaction Reports and Analysis Centre (AUSTRAC), has threatened inactive Digital Currency Exchange (DCE) in the region to either use their exchange or lose it.
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- title: Blockchain intelligence platform Lookonchain is highlighting a trader who has profited handsomely from trading in Fartcoin (FARTCOIN), a memecoin built in the Solana (SOL) ecosystem.
- Apr 29, 2025 at 09:30 pm
- According to Lookonchain, the unidentified trader is once again going long on the crypto asset and has purchased 488,000 Fartcoin at a total price of $563,000.
