According to BlockBeats, on October 17, according to official news, BTC ecological lending protocol Avalon Labs announced today that it will be officially deployed on the DePIN modular platform IoTeX to expand service support for DePIN assets. The current TVL in the Avalon protocol has exceeded US$700 million. This integration with IoTeX will help Avalon explore more possibilities in the DePIN field and bring a large number of BTC assets into the IoTeX ecosystem.

Financial service support for DePIN assets is one of IoTeX's top priorities. The cooperation with Avalon Labs will provide better lending services for assets on the IoTeX chain, expand more practical paths for project assets, and bring more liquidity to the IoTeX chain. Avalon Labs has previously received investments from SNZ capital, Martrixport and other institutions, and is one of the largest lending protocols in the BTC ecosystem.

Since IoTeX announced its 2.0 DePIN modular strategy in July, IoTeX's influence in the DePIN field has continued to grow. The DePIN Summit it hosted during Singapore 2049 attracted more than 5,000 participants, bringing together almost all investment institutions paying attention to DePIN and more than a dozen innovative DePIN projects.