The Arbitrum community's new proposal aims to establish a Memecoin fund

ChainCatcher news, the Arbitrum community has initiated a new proposal to establish a Memecoin fund independent of the Arbitrum DAO, aimed at selecting quality projects to support the development of Memecoins and cultivate a Memecoin-friendly culture within the Arbitrum ecosystem. According to the proposal, the requirements for selecting projects include having at least $200,000 in liquidity, the token must have existed for at least 30 days, whales cannot hold a high percentage, and the market capitalization must be over $1 million.

The proposal suggests allocating $3 million worth of ARB to launch the fund (trial run for 6 months) and plans to provide funding and liquidity support for selected Meme coins, with each investment ranging from $50,000 to $150,000, while also offering professional graphic designers/video renderers support.