The Avalanche Foundation has launched Memecoin Rush, a new incentive program aimed at deepening liquidity for meme coins built within the AVAX ecosystem. In its first phase, the initiative will distribute $1 million to users who provide liquidity for selected tokens on Avalanche-native decentralized platforms Trader Joe and Steakhut, with plans to expand to additional venues later.
Liquidity incentives begin on Trader Joe and Steakhut
Under the initial rollout, Trader Joe will offer single-asset staking, while Steakhut will support liquidity pool pairs combining the selected meme coins with AVAX. The foundation said the program is designed to create extra yield opportunities for token holders while encouraging deeper on-chain activity across Avalanche’s DeFi environment.
Ten meme coins selected for phase one
The first batch of tokens includes Coq, Kimbo, Nochill, Gec, Tech, Husky, Meow, Kong, Meat, and Kingshit. Some of these assets are already held in the Avalanche Foundation treasury after being acquired through its Culture Catalyst fund, which was launched in 2022 and later repurposed for this effort in December. According to the foundation, all selected tokens meet the eligibility criteria disclosed in January.
A broader bet on culture-driven crypto communities
While meme coins remain controversial in parts of the industry, Avalanche is framing them as more than speculative assets. The foundation said these tokens have become important cultural markers in Web3, reflecting the diversity of crypto-native communities. Emin Gün Sirer, founder and CEO of Ava Labs, has previously said he came to appreciate the cultural role of coins that function largely as social signaling tools.
Eric Kang, BD Manager at Ava Labs, said Memecoin Rush would showcase the variety of Avalanche-native DeFi protocols and help users engage with some of the ecosystem’s most vibrant communities. Beyond the short-term liquidity boost, the move highlights Avalanche’s effort to turn meme coin momentum into deeper user participation and stronger ecosystem visibility.