According to BlockBeats, on October 17, BTC ecosystem lending protocol Avalon Labs announced its official deployment on the DePIN modular platform IoTeX. This integration aims to expand support for DePIN assets. Currently, the total value locked (TVL) within the Avalon protocol exceeds $700 million. The collaboration with IoTeX is expected to explore more possibilities in the DePIN field and bring a significant amount of BTC assets into the IoTeX ecosystem.
Financial service support for DePIN assets is a primary focus for IoTeX. The partnership with Avalon Labs will provide better lending services for assets on the IoTeX chain, expand practical pathways for project assets, and increase liquidity on the IoTeX chain. Avalon Labs has previously received investments from institutions such as SNZ Capital and Matrixport, establishing itself as one of the largest lending protocols in the BTC ecosystem.
Since IoTeX announced its 2.0 DePIN modular strategy in July, its influence in the DePIN field has been steadily increasing. During the Singapore 2049 event, IoTeX hosted a DePIN summit that attracted over 5,000 participants, including nearly all investment institutions focused on DePIN and more than ten innovative DePIN projects.
