Avalanche mainnet launch date announced

The Avalanche project, whose co-founders include Cornell University professor Emin Gün Sirer, will launch its blockchain’s mainnet on Monday, September 21.

Simultaneously with the network launch, AVAX tokens will be distributed among investors in private and public sales, grant recipients, and active community participants.

[1/4] Next Monday, September 21, @avalabsofficial will launch Avalanche’s mainnet to showcase the true potential of cryptocurrencies, blockchains, and decentralized applications. https://t.co/l6Z229cDN2

— Avalanche (@avalancheavax) September 16, 2020

According to the announcement, Avalanche is the first smart-contract platform to offer transaction finality in under one second. It also provides full support for the Ethereum Virtual Machine and developer tools, and millions of independent validators have the opportunity to participate as block-producing full nodes.

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The project’s native token will be used to secure the network through staking and to serve as the base unit of settlement between AVA subnets. It will also be used to pay network fees.

In July, Avalanche raised $42 million following a public token sale. 72 million AVAX tokens were purchased by investors from 100 countries.

A month earlier, the project conducted a private token sale of $12 million, led by Bitmain and Galaxy Digital.

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