Avalon Labs has officially announced its entry into the Token Generation Event (TGE) phase, marking a major milestone with the launch of its governance token, AVL. The BTCFi protocol, having received $10 million from Framework Ventures and Kenetic Capital, shared in detail via blog post its vision on what role it foresees AVL will play in the ecosystem.
AVL will serve as the bedrock of Avalon’s on-chain financial hub for Bitcoin. The governance token aims to bring power into the hands of the community. It ensures innovation, and incentivize players within the ecosystem. At the launch, Avalon Labs promised its earliest supporters 20% of the total supply through an airdrop to shape the chain.
The AVL tokenomics are rather dynamic: supply shall grow in accordance with such key drivers as token vesting, marketing efforts, yield incentives, and strategic partnerships. Having capped the supply at 1 billion tokens this positions the ecosystem for sustainable growth. Avalon Labs intends to use AVL strategically to accelerate user adoption and expand its platform.
Avalon Labs unlocks governance and staking utilities
The utilities of AVL tokens include governance voting, staking, and fee rebates. Holders will decide on protocol development and asset allocation. The sAVL has rewards, voting power, and fee reduction on Avalon’s USDa and CeDeFi lending products upon staking AVL. A bribes market for sAVL holders will enhance the benefits of staking.
Another announcement was made regarding a very innovative farming program: Earn AVL by holding USDa. There will be a referral system for extra bonuses that will help grow and reward the participation of the ecosystem.
With this launch, Avalon Labs is about to disrupt Bitcoin finance by making it decentralized and fun for users. More details about the airdrop and how to register will be announced soon.
