PANews reported on January 9 that the stablecoin issuer Avalon Labs announced on its official blog that the TGE event for its governance token AVL will take place in early Q1, with the claiming process opening shortly thereafter. AVL will also be listed on centralized exchanges (CEX) simultaneously with the TGE.
The circulating supply of AVL will evolve based on strategic factors to ensure alignment with platform growth and ecosystem expansion. The main drivers of AVL supply include: token redemption plans, protocol growth, yield incentives, strategic partnerships, and growth-oriented funding. The total supply cap of AVL tokens is 1 billion, with 30% allocated for community incentives, 20% for airdrop distribution, 16% for ecosystem and treasury distribution, 10% for team distribution, 4% for advisor distribution, 2% for initial liquidity distribution, and 18% for investor distribution.
According to news from last December, the stablecoin issuer Avalon Labs has completed a $10 million Series A funding round, led by Framework Ventures.