Avalon Labs, a BTCFi protocol backed by enterprise capital corporations, has formally introduced its upcoming Token Technology Occasion (TGE) and the launch of its governance token, AVL. The TGE will happen in early Q1, with the declare interval for AVL tokens opening shortly thereafter.
Capped at a complete provide of 1 billion tokens, AVL will play a central function within the Avalon Labs ecosystem. The token will provide a wide range of utilities, together with staking rewards, governance rights by sAVL, and price rebates on Avalon’s USDa and CeDeFi platforms.
To reward its neighborhood, Avalon Labs plans to airdrop 20% of its complete AVL provide to customers and backers. Nearly all of these tokens shall be distributed primarily based on Avalon Factors accrued from lending actions and AVL earned in the course of the USDa bounty marketing campaign. The remaining portion of the airdropped AVL tokens shall be allotted over time to additional reward early backers.
The corporate has not but finalized the precise distribution figures and conversion charges, as Avalon Factors are nonetheless being accrued. Extra particulars on the registration and airdrop course of shall be shared as soon as the buildup interval is over.
*This isn’t funding recommendation.
