Anticipated Cryptocurrency Project Finally Announces Altcoin Airdrop - Here Are The Details

Avalon Labs, a BTCFi protocol backed by venture capital firms, has officially announced its upcoming Token Generation Event (TGE) and the launch of its governance token, AVL. The TGE will take place in early Q1, with the claim period for AVL tokens opening shortly thereafter.

Capped at a total supply of 1 billion tokens, AVL will play a central role in the Avalon Labs ecosystem. The token will offer a variety of utilities, including staking rewards, governance rights through sAVL, and fee rebates on Avalons USDa and CeDeFi platforms.

To reward its community, Avalon Labs plans to airdrop 20% of its total AVL supply to users and backers. The majority of these tokens will be distributed based on Avalon Points accumulated from lending activities and AVL earned during the USDa bounty campaign. The remaining portion of the airdropped AVL tokens will be allocated over time to further reward early backers.

The company has not yet finalized the exact distribution figures and conversion rates, as Avalon Points are still being accumulated. More details on the registration and airdrop process will be shared once the accumulation period is over.