• 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

Massive Derivatives Expiry Set to Impact Bitcoin and Ethereum Markets

chest

A significant derivatives expiry is scheduled for February 6, 2026, with $215 billion in Bitcoin options and $408 million in Ethereum options expiring, potentially causing market volatility.

user avatarLuis Flores

Tether's USDT Achieves Record Growth in Q4 2025

chest

Tether's USDT experienced remarkable growth in Q4 2025, with a user increase of 352 million and a record transfer volume of $4.4 trillion.

user avatarArif Mukhtar

Bitcoin Mining Shifts Focus to Diversified Energy Models

chest

Bitcoin mining is evolving from a focus on hashrate accumulation to a diversified energy model, driven by industry leaders.

user avatarMaria Gutierrez

Crypto Analyst Predicts Market Low by October 2026

chest

Crypto analyst Benjamin Cowen suggests that the current bear market may find a bottom by October 2026.

user avatarDavid Robinson

Metaplanet Intensifies Bitcoin Accumulation Amid Market Changes

chest

Metaplanet, a Tokyo-listed investment firm, is aggressively increasing its Bitcoin holdings despite market conditions.

user avatarAndrew Smith

US Issues Advisory for Citizens in Iran Amid Geopolitical Tensions

chest

The United States has renewed advisories urging its citizens to leave Iran due to rising geopolitical tensions.

user avatarJacob Williams

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.