Avalon Labs Torches 80M AVL Tokens, Sparks Deflationary Firestorm

80 Million AVL Tokens Up in Flames

Holy smokes! Avalon Labs just set 80 million AVL tokens ablaze, yanking them out of circulation for good. That's a whopping 44% of the circulating supply gone in a flash!

Unclaimed Airdrop Tokens Fuel the Fire

On June 9, the crypto world was rocked by Avalon's X post announcing the burn. These incinerated tokens, valued at around $16 million, were mostly unclaimed airdrops from their March 2024 campaign. Avalon's calling this the ignition of a "deflationary cycle" that's all about long-term gains.

Avalon Labs has officially burned 80M $AVL, representing 44% of the circulating supply. These unclaimed airdrop tokens, worth approximately $16 million, have now been permanently removed from circulation. Over the past year, a total of $20M worth of $AVL has been claimed by…

Community Cheers as AVL Prices Soar

In the past year, over 100,000 users have jumped on the AVL bandwagon, snagging $20 million worth through the airdrop. Avalon's giving a huge shoutout to their community for shaping the ecosystem, promising to keep the incentives aligned for the long haul.

Token burns are like the crypto world's secret sauce for cranking up scarcity and potentially pumping prices over time. And boy, did it work! Right after the announcement, AVL skyrocketed over 18% and snagged the top spot in futures buys on Bybit. Talk about a hot market response!

Avalon Labs: Building the Future of Bitcoin-Backed Finance

Avalon Labs isn't just playing with fire; they're revolutionizing Bitcoin-backed on-chain capital markets. These financial tech wizards have already shelled out over $1.2 billion in overcollateralized BTC-backed loans. And get this—they just locked in a $2 billion credit line from some heavy-hitting Asian conglomerates to bring this model to the big leagues.

Unlocking Liquidity and Yield with USDa and FBTC

But wait, there's more! Avalon's not stopping at lending. They've unleashed USDa, the first-ever Bitcoin-backed stablecoin, letting users tap into liquidity without ditching their BTC. Through their CeDeFi protocol, they're also dishing out yield-generating savings products that'll make your crypto work harder.

Deposit FBTC, a 1:1 Bitcoin-pegged asset, and borrow Tether (USDT) at fixed rates. Avalon then puts those funds to work in high-yield strategies on platforms like Ethena Labs (ENA). With operations spanning 20+ public blockchains and 50+ isolated lending markets, Avalon's got over $1.1 billion in total value locked, according to DefiLlama data.

Avalon's Stellar Institutional Backing and Ambitious Plans

The token burn is just the latest in a string of big moves for Avalon Labs. On May 26, YZi Labs, the former Binance Labs, dropped an undisclosed investment into Avalon, giving the project some serious institutional clout.

And back in February, the firm teased a Bitcoin-backed public debt fund under SEC watch, a game-changer that could lure more traditional investors into the wild world of crypto credit.