Avalanche Foundation announces the launch of Memecoin Rush, an incentive program for community currency liquidity mining

On March 21st, according to the official blog, the Avalanche Foundation has launched the first phase of Memecoin Rush, a $1 million liquidity mining incentive program. The program has now begun and will be divided into several phases. Following the tradition of the Foundation's past successful incentive programs, Memecoin Rush aims to help expand liquidity and drive momentum, but this time it is focused on the community coin ecosystem on Avalanche.

The first phase of Memecoin Rush is launched by SteakHut and Trader Joe, with more participants to be announced in the coming weeks. Initially, these two native Avalanche projects will incentivize trading and add liquidity strategies for selected community coins.