Arbitrum community launches proposal to establish MemeCoin fund

A proposal has been initiated by community members of Arbitrum to establish an independent MemeCoin fund separate from Arbitrum DAO, aimed at helping MemeCoin projects develop and cultivating a MemeCoin-friendly culture within Arbitrum. The proposal suggests using $3 million worth of ARB as the starting fund.

According to the proposal, the fund will select projects with at least $200,000 in liquidity, a low percentage of whale ownership, and a market value of over $1 million.

In addition, the fund does not allow intraday trading, and investments must be held for three months. At the end of three months, collaborators can consider closing positions or holding for another three months.