Avalon Labs Unveils Governance Token AVL

Avalon Labs, the issuer of the Bitcoin (BTC)-based stablecoin (a virtual asset linked to the value of fiat currency) USDa, has unveiled its own token.

On the 9th, Avalon Labs announced on X (formerly Twitter) that "we have entered the Token Generation Event (TGE) phase and launched the ERC-20 based governance token AVL."

They further stated, "AVL will provide incentives for the growth, participation, and rewards of the Avalon ecosystem. The token will empower the community and also complete decentralization," adding that "20% of the total AVL supply is planned to be airdropped to users and supporters."