Avalanche has successfully closed a $250 million token sale, led by prominent investment firms Galaxy Digital, Dragonfly, and ParaFi Capital. Over 40 investment companies participated, including SkyBridge and Morgan Creek Digital, to support Avalanche's recent network upgrade, Avalanche9000, which aims to lower transaction fees and facilitate validator operations.
The company also launched a $40 million grant program for developers on its network, underscoring its commitment to innovation. The Avalanche9000 upgrade is seen as a pivotal step in advancing the decentralized finance ecosystem, enhancing scalability, and fostering institutional participation.
