Historic Fundraising Milestone
The Avalanche public token sale concluded with a staggering $42 million raised in just 4.5 hours, marking a pivotal moment for decentralized finance (DeFi) and blockchain innovation. The native token, AVAX, serves as the backbone of the Avalanche ecosystem, enabling network security through staking, transaction fees, and interoperability across subnets.
"This sale validates the transformative potential of Avalanche’s technology and community. We’re thrilled to welcome new members to our ecosystem as we redefine decentralized finance."
— Emin Gün Sirer, CEO of Ava Labs
Key Details of the Sale
- Date: July 15, 2020
- Tokens Sold: 72M AVAX across multiple pools
- Participants: Buyers from 100+ countries, including Ethereum Genesis Block contributors
- Use of Proceeds: Exclusively for Avalanche network development (Token Economics)
How the Sale Unfolded
- 10:00 AM ET: Queuing system opened with overwhelming demand.
- 11:11 AM ET: Pools A1 and B sold out.
- 2:33 PM ET: All tokens fully allocated, concluding the sale.
The team prioritized fairness, enforcing strict anti-exploitation measures to ensure equitable distribution.
FAQs About the Avalanche Public Sale
Q: How were sale rules enforced?
A: Contributions exceeding caps were refunded to maintain fairness.
Q: When will AVAX tokens be distributed?
A: Tokens will unlock upon Avalanche mainnet launch (expected by late August).
Q: Where can I trade AVAX?
A: Official listings will be announced via Avalanche’s social channels. Beware of unaffiliated futures/IOUs.
👉 Join the Avalanche Community
What’s Next for Avalanche?
- Avalanche-X: Developer grants for DeFi projects.
- Avalanche Hub: Community growth initiatives.
For support, contact: [email protected]
Total raised may adjust slightly due to refund processing.
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