Avalon Labs, a project developing Bitcoin-based decentralised finance, has introduced the AVL governance token. Twenty percent of the total supply is allocated to user rewards.
Avalon TGE is Coming.
The Ticker is $AVL. pic.twitter.com/vEhjufpilb
— Avalon Labs ?? (@avalonfinance_) January 9, 2025
According to a blog post, the TGE will take place in early Q1 2025. Shortly afterwards, applications for the airdrop will open.
“With AVL we are opening new opportunities for growth, engagement and rewards in the Avalon ecosystem. This token is designed to empower our community, spur innovation and pave the way to a decentralised future,” the team said.
AVL’s supply is capped at 1bn tokens. Part of the issuance will fund initiatives to grow the protocol’s ecosystem, including strategic partnerships. Over time, a portion of AVL will be allocated as rewards to early users.
Avalon Labs offers a range of products: bitcoin-collateralised lending, USDa, a stablecoin pegged to the first cryptocurrency, yield-bearing accounts and more.
According to DeFi Llama, the platform’s total value locked stands at $1.8bn.
In Forbes, contributor Lior Shimron predicted “exponential growth” in Bitcoin DeFi in 2025. A similar view was shared by Michael Harvey of Galaxy Digital.