In late 2023, the Avalanche Foundation announced its intention to acquire community coins native to the Avalanche blockchain network. This ongoing effort falls under the Foundation’s broader Culture Catalyst program, which seeks to foster Web3 creators, inspire innovation on Avalanche, and help drive greater blockchain adoption. 

Community coins have become vital Web3 touchstones today. They represent the fun, spirit, uniqueness, and interests of diverse crypto communities. The Avalanche Foundation aims to recognize these qualities and support these communities. 

Today, the Avalanche Foundation announces its first five community coin holdings. Moreover, the Foundation is also announcing its intention to update the community on these holdings, providing transparency through regular disclosures. 

Each community coin held by the Foundation meets the Foundation’s established eligibility guidelines for community coin projects. These criteria help to establish a particular coin’s commitment to Avalanche and fair Web3 practices. 

As of today, the Foundation’s community coin holdings include:

• Coq Inu

• Gecko

• Kimbo

• NoChill

• Tech

Please note that the Foundation’s initiative to support community coins remains ongoing. The Foundation is also acting nimbly (recognizing how fast the crypto community advances) and looking to adjust the eligibility criteria for community coins as appropriate to support projects that may be early but have the credibility to build tools for the Avalanche ecosystem, such as Tech. 

Other community coins could also potentially join the program. For instance, the Avalanche Foundation is currently evaluating ERC-404 tokens following their promising debut as a novel token class that the Avalanche community is helping to pioneer. 

At any time, the Avalanche Foundation may change its community coin holdings, as well as continue to change its criteria for eligible community coins. Nor will the Avalanche Foundation necessarily buy all community coins meeting the criteria. The Foundation reserves the right to make any changes as it deems fit to further its mission and this particular initiative. 

The Avalanche Foundation is proud to support a range of culturally important Web3 projects, and to celebrate vibrant and unique Web3 culture on Avalanche. The Foundation is dedicated to helping foster a more diverse Avalanche ecosystem through Culture Catalyst and its many other efforts. These efforts aim to strengthen the Avalanche ecosystem. 

We look forward to continuing to support the Avalanche community. 

‍

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.

Website | Whitepapers | Twitter | Discord | GitHub | Documentation | Telegram | Facebook | LinkedIn | Reddit | YouTube

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.

‍