Rewarding Active and Loyal Avalanche Users

Last Friday, community members may have noticed that their wallets were airdropped with $AVAX and $COQ tokens. The Foundation was, and remains, keen to recognize the support that community members have shown towards the Community Coin initiative. The Foundation also recognizes “Diamond Hands” and values loyalty to the Avalanche ecosystem. Wallets that historically have been involved in the Avalanche ecosystem have also been identified. All of these factors were taken into account in determining the qualifying wallets that have received the airdrop.

The Foundation has considered several factors when planning the airdrop of $AVAX and $COQ tokens. Primarily, we focused on participants of the Memecoin Rush program and the Diamond Hands. We obtained comprehensive data from Trader Joe, which included all Memecoin Rush participants and Diamond Hands. All Diamond Hands were treated equally and received the same allocation. Based on their historic on-chain activity, we ranked participants who were not Diamond Hands by tiers. This ranking was facilitated by data provided by The Tie through their Frosty Metrics Chill Factor categorizations. The Foundation sincerely thanks both teams for their assistance in compiling the data necessary to determine the qualifying wallets. It is important to note that work has been done to qualitatively filter out non-qualifying wallets (such as exchange wallets, wallets used by bots, wallets that have demonstrated wash trading activity, etc.) to the greatest extent possible. However, we acknowledge that there is a minimal likelihood that some of these wallets may have received an airdrop. The Foundation also used the Core Airdrop Tool to deliver the $AVAX and $COQ tokens to qualifying wallets. The Foundation is keen to continue using innovation born within the Avalanche ecosystem to recognize and reward Avalanche ecosystem participants and community members. 

We look forward to continuing to support the growth and development of Avalanche with you. 

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Provided for informational purposes only, without representation, warranty or guarantee of any kind. None of this is as an endorsement by the Avalanche Foundation Limited or any of its subsidiaries or affiliates, nor is any of this investment or financial advice. Please review this Notice and conduct your own research to properly evaluate the risks and benefits of any project.

About Avalanche

Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.

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About the Avalanche Foundation

The Avalanche Foundation is a non-profit entity that fosters the advancement and growth of the Avalanche platform for the world. The Foundation offers development programs for developers, entrepreneurs, and users to help turbocharge the advancement of the Avalanche ecosystem.

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