Avalon Labs has burned 80 million AVL tokens, accounting for 44% of the total circulating supply

ChainCatcher news, the Bitcoin financial services platform Avalon Labs has officially destroyed 80 million governance tokens AVL, worth approximately 16 million USD, accounting for 44% of the current circulating supply. The destroyed tokens mainly consist of the shares that were not claimed by users during the airdrop period.

Avalon Labs launched the governance token airdrop campaign in March 2024, attracting over 100,000 users to participate and claim, successfully distributing tokens worth 20 million USD. With the conclusion of the campaign, the official has unified the destruction of the remaining 80 million unclaimed tokens to control the token supply entering a deflationary period.