$LUNC BlockBeats News, on November 7, according to The Block, the Avalanche Foundation announced that it had completed the repurchase of 1.97 million AVAX tokens held by the Luna Foundation, worth about $52 million. , officially ended the cooperation with the collapsed Terra blockchain.

The repurchase was approved by the bankruptcy court, ending the Avalanche Foundation's token redemption plan since the failure of Terra. The Avalanche Foundation plans to use this repurchase fund for community incentives, technology incubators and ecosystem construction to further promote the sustainable development and innovation of the Avalanche network.