Avalanche Invested In Altcoin PUP And Other Tokens
The non-profit organization Avalanche Foundation has disclosed its investments in various coins. According to The Block, as part of the Culture Catalyst program, the foundation added five unique tokens to its portfolio. Notable projects it has supported include Pup Inu, Gecko, Kimbo, NoChill, and Tech. The inclusion of these memecoins aligns with the foundation’s goal of fostering Web3 creators.
In January 2024, the Avalanche Foundation announced its intention to acquire several tokens on the Avalanche network. While selecting these assets, the foundation considered factors such as liquidity, market capitalization, average daily trading volume, and more. It also highlighted the importance of tokens with strong community support.
Furthermore, the Avalanche Foundation emphasized the significance of security measures, the number of coin holders, and resistance to potential hacker attacks when choosing memecoins. Currently, the team is evaluating ERC-404 tokens to expand the range of community assets.
Image: The Block