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The Avalanche Foundation, in collaboration with Trader Joe, has launched the Memecoin Rush program, rewarding participants with significant APR yields and embracing meme culture. The first week saw the distribution of 10,000 AVAX, worth about $500,000, across 10 pools based on total value locked (TVL). Participants can earn up to 380% APR on dormant NFTs and 26% APR for staking meme coins like $COQ, $AVAX, and $JOE, with the benefits of single-sided staking without impermanent loss (no IL) and minimal risks. A $100,000 COQ stake could yield roughly $26,000 annually or $500 of AVAX a week. A pro tip for maximizing AVAX earned involves a +20% multiplier for having at least $50 in memecoins staked.
$COQ: Taking Over The $AVAX Blockchain! @CoqInuAVAX https://t.co/ad5Lcu0VV0
Week 1 rewards for @TraderJoe_xyz Memecoin Rush dropped today. Love it or hate it - multipliers will be key to maximizing your AVAX earned as they apply across all your vaults Pro tip - One of the criteria for a +20% multiplier is to have at least $50 in memecoins staked acrossโฆ https://t.co/kCiPoDdX1w
Just claimed my $AVAX stimmy from @TraderJoe_xyz Memecoin Rush. In this moment we are euphoric. 26% APY just for max staking and diamond handing. Recommend staking in 10 pools. $100,000 $COQ staked is earning you ~$26,000 a year/$500 of AVAX a week. INSANE @AvalancheFDN ๐๐บ https://t.co/BHUKcyZnwi
