Avalanche continues to promote memcoins with $1 million in rewards for liquidity providers
The fund announced the "Memecoin Rush" project, which provides $1 million worth of Avalanche (AVAX) tokens as an incentive for traders and liquidity providers of Avalanche-based community coins.
The first phase of the program will launch on decentralized finance (DeFi) platforms SteakHut Finance and Trader Joe's. Avalanche said these platforms will "incentivize trading and add liquidity strategies" for community tokens within the network.
According to the announcement, rewards will be provided to liquidity providers in the Coq, NoChill, Tech and Kimbo memcoin liquidity pools in conjunction with the AVAX token. In addition, Avalanche listed Coq Inu, Kimbo, NoChill, Gec, Tech, Husky, Meow, Kong, Meat and Kingshit as beneficiaries of the vault incentive program.
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