The old brand Avalanche AVAX will unlock about 9.54 million tokens on May 22, accounting for 2.49% of the circulation, worth about US$347 million.
The Avalanche protocol (Avalanche) was officially launched in 2020. It is a new type of blockchain. It features a new consensus mechanism Avalanche, also known as the "Avalanche Protocol", so Avalanche is also called the Avalanche chain.
In addition, Avalanche is different from most existing public chains. It consists of three parallel public chains. The three chains have their own responsibilities and jointly create a fast and convenient platform for DeFi to carry smart contracts on it.
Future development possibilities of Avalanche
It has many DeFi projects and a diverse ecology.
At present, there are a total of 170 DeFi projects under development on Avalanche, including transactions, pledges, wallets, lending, NFT trading platforms and other projects, with a diverse ecology.
