Avalon Labs: The TGE of the governance token AVL will take place at the beginning of Q1, with a total supply cap of 1 billion

On January 9th, stablecoin issuer Avalon Labs announced on its official blog that the TGE event for its governance token AVL will be held at the beginning of the first quarter. The claim process will also open soon after, and AVL will be listed on CEX simultaneously with the TGE. The total supply cap of AVL tokens is 1 billion, of which 30% is allocated for community incentives, 20% for airdrops, 16% for ecosystem and treasury allocation, 10% for team allocation, 4% for advisor allocation, 2% for initial liquidity provision and 18% to investors. Last December it was reported that Avalon Labs completed a $10 million Series A financing round led by Framework Ventures.