Avalon Labs Burns 80 Million AVL Tokens, Reducing Supply by 44%
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Avalon Labs has announced the destruction of 80 million AVL tokens, representing approximately 44% of the total circulating supply. The tokens were primarily from unclaimed allocations in an airdrop event initiated in March 2024, where $20 million worth of AVL was successfully claimed. Avalon Labs, a Bitcoin financial services platform, recently completed a strategic financing round led by YZi Labs.
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