Avalanche Foundation launches liquidity mining incentive program Memecoin Rush to boost the Meme ecosystem

TechFlow news: The Avalanche Foundation has launched Memecoin Rush, a liquidity mining incentive program now live and divided into multiple phases, aimed at boosting the meme coin ecosystem on the Avalanche blockchain.

The first phase of Memecoin Rush offers $1 million in AVAX and selected community tokens as rewards for liquidity providers on SteakHut and Trader Joe.

Notably, Memecoin Rush is actually a continuation of Avalanche Rush, an ongoing liquidity mining initiative that has helped fuel the growth of Avalanche's DeFi ecosystem since 2021.