Avalon Labs: The TGE will take place in Q1, with a total supply cap of 1 billion AVL, and 20% allocated for airdrops

ChainCatcher news, stablecoin issuer Avalon Labs announced on its official blog that the TGE event for its governance token AVL will take place in early Q1, and the claiming process will open shortly thereafter. AVL will be listed on centralized exchanges (CEX) simultaneously with the TGE.

The circulating supply of AVL will evolve continuously based on strategic factors to ensure alignment with the growth of the platform and the expansion of the ecosystem. The main drivers of AVL supply include: token redemption plans, protocol growth, yield incentives, strategic partnerships, and growth-oriented funding. The total supply cap for AVL tokens is 1 billion, with 30% allocated for community incentives, 20% for airdrop distribution, 16% for ecosystem and treasury distribution, 10% for team allocation, 4% for advisor allocation, 2% for initial liquidity allocation, and 18% for investor allocation.

According to data from the crypto platform RootData, stablecoin USDa issuer Avalon Labs has completed a $10 million Series A funding round, led by Framework Ventures.