Avalon Labs Deploys on IoTeX: Expanding DePIN Asset Support in BTC Ecosystem

October 17, 2024 — In a strategic move to enhance its presence in the decentralized physical infrastructure (DePIN) space, Avalon Labs, a leading Bitcoin ecosystem lending protocol, has officially announced its deployment on the IoTeX modular platform. This integration aims to expand financial services for DePIN assets while bringing substantial Bitcoin (BTC) assets into the IoTeX ecosystem.

Avalon Labs: A BTC Lending Powerhouse

Avalon Labs, one of the largest lending protocols in the BTC ecosystem with a total value locked (TVL) exceeding $700 million, has made its mark by offering robust lending services. The protocol's decision to collaborate with IoTeX underscores the growing demand for decentralized lending solutions, particularly for DePIN-related assets.

The deployment on IoTeX allows Avalon Labs to leverage IoTeX's DePIN modular platform, providing enhanced lending services for projects built on IoTeX. This partnership is expected to explore new possibilities for DePIN applications, improve liquidity, and expand the range of supported assets on the IoTeX blockchain.

IoTeX’s 2.0 DePIN Strategy: A Growing Influence

Since the introduction of IoTeX’s 2.0 DePIN modular strategy in July, the platform has steadily increased its influence in the DePIN sector. IoTeX's primary focus has been on providing financial services and infrastructure for decentralized physical infrastructure projects, supporting innovative technologies that bridge the digital and physical worlds.

The partnership with Avalon Labs plays a key role in this strategy, expanding practical pathways for asset deployment and enhancing liquidity on the IoTeX chain. IoTeX’s commitment to the DePIN field was highlighted at the Singapore 2049 event, where it hosted a DePIN summit that drew over 5,000 participants, including leading investment institutions and more than ten cutting-edge DePIN projects.

A Promising Future for DePIN Assets

By integrating with IoTeX, Avalon Labs opens up new opportunities for Bitcoin and DePIN-related assets to interact within the IoTeX ecosystem. This collaboration will likely attract more institutional attention and accelerate the development of decentralized financial infrastructure for physical assets.

With strong backing from investors such as SNZ Capital and Matrixport, Avalon Labs is poised to further its position as a key player in the BTC lending ecosystem. The deployment on IoTeX is just the beginning of an ambitious plan to redefine lending and asset management in the decentralized world, particularly within the emerging DePIN sector.

As the DePIN space continues to evolve, the partnership between Avalon Labs and IoTeX represents a significant step forward in unlocking the potential of decentralized infrastructure on the blockchain.

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