Avalanche Foundation Ends Ties with Terra Blockchain, Completes $52M Token Repurchase 👇👇
BlockBeats reports that on November 7, the Avalanche Foundation officially ended its association with the now-defunct Terra blockchain. This was achieved through a $52 million repurchase of 1.97 million AVAX tokens from the Luna Foundation, following approval from the bankruptcy court. This strategic move marks a significant turning point for Avalanche, closing a chapter and paving the way for future advancements.
With this transaction complete, Avalanche is now positioned to enhance its ecosystem. Plans include launching new community incentives, fostering advanced technology incubators, and driving innovative projects—all aimed at sustainable growth and transforming the blockchain landscape.
Could this initiative ignite the next significant rally for AVAX? Share your insights.