Avalanche has completed a $250 million financing and announced the upcoming launch of the "Avalanche9000" upgrade to reduce blockchain deployment costs and promote ecological growth. The financing attracted more than 40 institutions including Galaxy Digital, Dragonfly and ParaFi Capital, including well-known companies such as SkyBridge and Morgan Creek Digital. After the news was released, the price of the native token $AVAX rose by 10% to $52.
Avalanche co-founder Emin Gün Sirer said that this round of financing aims to attract partners with long-term cooperation potential and further expand the ecological influence. Avalanche currently has sufficient funds and its treasury holds $AVAX tokens worth about $30 billion. The success of the financing not only highlights the market's expectations for its future, but also provides strong support for the upcoming technology upgrades.
The Avalanche9000 upgrade is coming with great impact, leading to a performance leap in the ecosystem.
Avalanche will launch the 'Avalanche9000' upgrade on December 16, significantly reducing blockchain deployment and transaction costs. The official statement indicates that Layer1 deployment costs will be reduced by 99.9%, and C-Chain transaction fees will decrease by 25 times. Node operation costs will also drop from approximately $96,000 (2,000 $AVAX) to a subscription model, requiring only 1.33 $AVAX per month.
The Avalanche Foundation recently announced on the X platform that the highly anticipated Avalanche9000 upgrade will officially go live on December 16, bringing several groundbreaking improvements to the ecosystem.
Upgrade highlights:
Transaction speed optimization: processing times significantly shortened, providing a quicker and smoother user experience.
Significant cost reductions: more competitive transaction costs are expected to attract more users and developers.
Enhanced scalability: improved system throughput to support high-concurrency transaction processing.
Cross-chain interoperability upgrade: more convenient integration with other blockchains, promoting cross-chain collaboration and ecosystem expansion.
Customized development tools: new frameworks and tools added to assist developers in creating more flexible and diverse applications.
The launch of Avalanche9000 will significantly enhance network performance and user experience, injecting new momentum to attract global users and developers. This upgrade not only consolidates Avalanche's leading position in the blockchain industry but will also be an important milestone in its technological competition.
Financing and technology are advancing together, accelerating ecosystem expansion for Avalanche.
Avalanche demonstrates a strong intention to attract institutional investors and promote Web3 development through financing and technological upgrades. BlackRock's USD Institutional Digital Liquidity Fund and Franklin Templeton's OnChain U.S. Government Money Market Fund both utilize Avalanche as the tokenized infrastructure. Dragonfly managing partner Haseeb Qureshi points out that Avalanche is paving the way for institutional entry on a large scale and will benefit from clearer crypto adoption.
This breakthrough not only consolidates Avalanche's market position but also expands its global influence. With the comprehensive implementation of the Avalanche9000 upgrade, Avalanche is expected to become the preferred infrastructure for decentralized applications, driving blockchain commercialization to new heights.
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