• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Avalanche Foundation to Repurchase 1.97M AVAX from LFG

user avatar

by Giorgi Kostiuk

a year ago

The Avalanche Foundation announced its intention to repurchase 1.97 million AVAX tokens from the Luna Foundation Guard (LFG). The repurchase agreement, made in April 2022, awaits court approval.

Overview of the Repurchase Agreement

The Avalanche Foundation, a nonprofit supporting the Avalanche blockchain, reached an agreement in April 2022 to sell 1.97 million AVAX tokens to Luna Foundation Guard. The decision to repurchase highlights the foundation's commitment to a resilient financial strategy.

Background on Luna Foundation Guard and AVAX Token

Luna Foundation Guard (LFG) is associated with the Terra (LUNA) blockchain ecosystem, known for stabilizing TerraUSD (UST). The initial AVAX token sale was part of a strategy to foster partnerships and enhance liquidity in the Avalanche network.

Reasons for the Repurchase

The decision to repurchase 1.97 million AVAX tokens is driven by several factors: 1. Market Stabilization. 2. Strategic Asset Management. 3. Strengthening Partnerships.

The repurchase of AVAX tokens by the Avalanche Foundation is a significant step in asset management. Pending favorable court decision, this move enhances the foundation's financial stability.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Naver Financial's Acquisition of Dunamu Leads Crypto Funding in 2025

chest

Naver Financial's acquisition of Dunamu for 103 billion dollars was the largest crypto deal of 2025, highlighting significant M&A activity in the sector.

user avatarMaria Gutierrez

Chainlink and Internet Computer Show Strong Development Activity

chest

Chainlink ranks second in developer activity with a score of 21103, while Internet Computer is third with a score of 20003, highlighting their significant contributions to the blockchain ecosystem.

user avatarAndrew Smith

Emerging Projects Signal Innovative Shifts in Blockchain

chest

Emerging projects like Livepeer are signaling innovative shifts within the blockchain sector, despite having lower development scores.

user avatarDavid Robinson

Ripple Unlocks XRP Escrow and AMT DeFi Launches Renewable Energy Yield Model

chest

Ripple has unlocked approximately 1 billion XRP from its escrow accounts, while AMT DeFi has launched a renewable energy yield model that combines crypto and sustainability.

user avatarAyman Ben Youssef

Helium Discontinues Token Buyback Program Amid Market Challenges

chest

Helium's founder Amir Haleem announced the discontinuation of the token buyback program due to market inefficiencies.

user avatarJacob Williams

Trump Addresses Mexico's Drug Cartel Control

chest

Trump criticized Mexico's government for cartel influence and warned of escalating drug issues.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.