Avalanche Foundation Greenlighted to Buy Back 1.97M AVAX Tokens from Luna Foundation Guard

The Bankruptcy Court has approved the Avalanche Foundation to proceed with the purchase of 1.97 million AVAX tokens from Luna Foundation Guard, which it sold in 2022. The deal intends to reinscribe these tokens into the Avalanche ecosystem in such a way that it enhances development, community initiatives, and ecosystem growth.

This repurchase will involve some activity on the LFG wallet from test transactions and may be seen by users over the next several days. By reclaiming these tokens, the Avalanche Foundation will be in a position to make an even stronger statement of commitment to long-term growth and support for projects and communities building on Avalanche.

The Avalanche community has already reacted positively in anticipation of renewed commitment by the foundation to ecosystem development through reuse of reclaimed AVAX resources.

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