The Avalanche Foundation Announces Memecoin Rush

Avalanche

The Avalanche Foundation (the “Foundation”) has launched phase one of Memecoin Rush, a $1M liquidity mining incentive program that begins now and will have several phases. In the same tradition as the Foundation’s successful past incentive programs, Memecoin Rush is designed to help scale liquidity and drive momentum, only this time for the community coin ecosystem on Avalanche.

The first phase of Memecoin Rush launches with SteakHut and Trader Joe, with additional participants to be announced in the coming weeks. To start, these two Avalanche-native projects will incentivize trading and add liquidity strategies for select community tokens.

Memecoin Rush is in fact a continuation of Avalanche Rush, the ongoing liquidity mining program that has helped turbocharge Avalanche DeFi since 2021. The persistent operation of Avalanche Rush reflects the Foundation’s commitment to advancing DeFi while creating a more accessible, decentralized, and cost-effective Avalanche ecosystem.

Phase One of Memecoin Rush

Phase one of Memecoin Rush provides $1 million in incentives in AVAX and select community coins to liquidity providers on SteakHut, Trader Joe, Yield Yak, Pharaoh Exchange and Balancer. SteakHut is a platform for active liquidity management and decentralized market making. TraderJoe is a longstanding DEX that utilizes a novel, capital-efficient, bin-based Liquidy Book protocol. Balancer’s multi-token weighted pool brings unique liquidity strategies for tokens that don't necessarily have price correlation. Yield Yak provides auto-compounding and boosted farms for the Avalanche DeFi ecosystem.

On SteakHut, Uniswap V3 liquidity mining program rewards will be provided to LPs for the community coins Coq, NoChill, Tech, and Kimbo for the following pools:

COQ/AVAX
NOCHILL/AVAX
KIMBO/AVAX
TECH/AVAX

Trader Joe launches incentives with single-sided, time-locked staking vaults for select tokens based on holder and market cap criteria. Users can earn points for staking into pools and track points for each pool via a leaderboard. Further, stakers can potentially unlock bonus multipliers to enhance their final standings and potentially earn a higher share of rewards. At the end of each epoch, points totals will be compiled, and rewards in AVAX and other tokens distributed to participants.

The first weekly epoch will include vaults for the following community coins: Coq, Kimbo, NoChill, Gec, Tech, Husky, Meow, Kong, Meat, and Kingshit.

More information on the upcoming Trader Joe Memecoin Rush program can be found here.

Starting Monday on Balancer, AVAX incentives will be distributed to LPs for the COQ, KIMBO, TECH, GEC, and NOCHILL Weighted Pool. In the coming weeks, Balancer will issue BAL incentives via the Balancer vlAura allocation.

Yield Yak will incentivize memecoin pairs through an auto-compounding vault on top of Trader Joe V1 pools. In the first weeks, AVAX rewards will be distributed to LPs for the COQ, KIMBO, TECH, GEC, NOCHILL, MEOW, KOVIN, and KONG vaults.

On Pharaoh Exchange, $AVAX and memecoin incentives will be distributed to LPs for the $COQ and $NOCHILL pools as additional rewards for Pharaoh’s top-earning pairs.

Community Coin Momentum

The Foundation recently announced its acquisition of Avalanche community coins. Community coins have become vital Web3 touchstones today, representing the diversity of crypto communities. Each community coin held by the Foundation meets the Foundation’s established guidelines for community coin projects, which are subject to change at the Foundation’s discretion.

“Memecoins have become a cornerstone of Web3, representing the uniqueness and interests of diverse crypto communities,” said Eric Kang, BD Manager at Ava Labs. “Memecoin Rush will be a showcase for users to see the diversity of Avalanche-native DeFi protocols and to dive into vibrant communities at the forefront of culture on Avalanche.”

Join the Rush

SteakHut and Trader Joe bring active liquidity management and single-sided staking vaults for memecoin pairs while providing deep liquidity to boost on-chain activity. Memecoin rush incentivizes liquidity provision and active participation for Avalanche-native tokens, aiming to foster broader ecosystem support and adoption for communities building on Avalanche.

To get started, add liquidity to memecoin pairs on Steakhut or stake into meme vaults on Trader Joe.

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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.

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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