- Avalon Labs announces TGE to launch governance token AVL, enhancing Bitcoin’s role in decentralized finance.
- USDa stablecoin reaches 100M supply, backed by $200M Bitcoin reserves, with rewards for participants in the ecosystem.
Avalon Labs officially announced its entry into the Token Generation Event (TGE) phase, marking an important step in its development as a Bitcoin financial protocol (BTCFi). The event will release the governance token AVL, expected to be essential in the ecosystem.
Although the exact TGE date is yet unknown, it is expected to happen in the next weeks. Avalon Labs is already attracting a lot of interest, especially after its $10 million Series A financing round, as we previously reported. Leading venture capital companies, including Framework Ventures and Kenetic Capital, as well as other well-known investors, led this round.
Avalon TGE is Coming.
The Ticker is $AVL. pic.twitter.com/vEhjufpilb
— Avalon Labs 🎩🔮 (@avalonfinance_) January 9, 2025
Fostering Community Engagement Through AVL Token and Airdrop Initiatives
Designed to enable governance inside the Avalon ecosystem, the forthcoming AVL coin is meant to encourage liquidity and participation. With a total supply limited to one billion tokens, allocations have been deliberately set to assist community incentives and ecosystem growth.
Furthermore, the protocol has launched a set of projects, including a search on the Galxe platform, in order to involve its community ahead of the token introduction. Participants are invited to finish assignments in order to get prizes, hence increasing the buzz about the TGE.
In keeping with its larger approach to honor active users and USDa stablecoin holders, Avalon Labs has also confirmed an airdrop of AVL tokens. The airdrop combines several earning systems, including a referral system meant to reward the referrer as well as the referred-for.
This strategy raises user involvement as well as the platform’s reach. Along with this, Avalon Labs is emphasizing openness and community confidence by guaranteeing honest communication on the soon-announced airdrop process and registration information.
Previously, CNF noted that, supported by $200 million in Bitcoin reserves, Avalon Labs’ USDa stablecoin achieved a stunning 100 million supply milestone. Along with triple points incentives for participants, the protocol has created a $50 million deposit cap with rich annual percentage yields (APY) ranging from 20% to 50%.