Avalon Labs, a BTCFi protocol backed by venture capital firms, has announced its upcoming Token Generation Event (TGE) and the launch of its governance token, AVL. The TGE is scheduled for early Q1, with the AVL token claim period opening shortly thereafter.
Launch of AVL Token
The AVL token will be capped at a total supply of 1 billion tokens. It will play a central role in Avalon Labs' ecosystem, offering utilities like staking rewards, governance rights via sAVL, and fee rebates on Avalon’s USDa and CeDeFi platforms.
Token Distribution and Features
To reward its community, Avalon Labs plans to airdrop 20% of its total AVL supply to users and backers. The majority of these tokens will be distributed based on Avalon Points accumulated from lending activities and AVL earned during the USDa bounty campaign. The remaining portion will be allocated over time to further reward early backers.
Airdrop and Rewards Plans
The exact distribution figures and conversion rates have not yet been finalized, as Avalon Points are still being accumulated. More details on the registration and airdrop process will be shared once the accumulation period is over.
Avalon Labs aims to integrate the AVL token into its ecosystem, rewarding early adopters and setting up essential features for its users. Updates on token distribution and further details will be announced in due course.
