Avalon Labs, a BTCFi protocol backed by enterprise capital corporations, has formally introduced its upcoming Token Era 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 position within the Avalon Labs ecosystem. The token will supply quite a lot of utilities, together with staking rewards, governance rights by means of 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 will likely be distributed based mostly on Avalon Factors collected from lending actions and AVL earned through the USDa bounty marketing campaign. The remaining portion of the airdropped AVL tokens will likely 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 collected. Extra particulars on the registration and airdrop course of will likely be shared as soon as the buildup interval is over.
*This isn’t funding recommendation.
