PANews reported on January 9 that stablecoin issuer Avalon Labs announced in its official blog that the TGE event for its governance token AVL will be held in early Q1, and the claim process will be opened shortly thereafter. AVL will be launched on centralized exchanges (CEX) at the same time as TGE.
The circulating supply of AVL will continue to evolve based on strategic factors to ensure alignment with the growth of the platform and the expansion of the ecosystem. The main drivers of AVL supply include: token redemption plans, protocol growth, yield incentives, strategic partnerships, and growth-oriented funding. The total supply of AVL tokens is capped at 1 billion, of which 30% is allocated to community incentives, 20% is allocated to airdrops, 16% is allocated to the ecosystem and treasury, 10% is allocated to the team, 4% is allocated to advisors, 2% is allocated to initial liquidity, and 18% is allocated to investors.
Earlier in December last year, it was reported that stablecoin issuer Avalon Labs completed a US$10 million Series A financing round, led by Framework Ventures .
