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Avalanche secures 250 million in token sale ahead of blockchain upgrade

Avalanche has successfully raised $250 million in a token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital, with over 40 investment firms participating. This funding comes as the blockchain project prepares for the mainnet launch of its Avalanche9000 upgrade, aimed at significantly reducing transaction costs and enhancing scalability across various sectors, including asset tokenization and gaming. The initiative also includes a $40 million grant program to boost developer engagement on the platform.
CoinJournal
United States Dollar Dragonfly GF Co., Ltd Parafi Capital LP SkyBridge Technology Group, Inc. Galaxy Digital Holdings Ltd. USA Jason Urban Ben Forman Show more
Finance & Economy, Market Report
10:06 13.12.2024

Avalanche secures 250 million ahead of major network upgrade launch

Avalanche has successfully raised $250 million in a private token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital, ahead of its significant network upgrade, Avalanche9000, set to launch on December 16. The funds will bolster Avalanche's treasury, which already holds approximately $3 billion in AVAX tokens. The upgrade introduces major changes, including a new model for subnets and reduced validator costs, enhancing interchain communication capabilities.
Cointelegraph
Ben Forman
Finance & Economy, Market Report
18:31 12.12.2024
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