Yesterday, the Ava Labs team announced the completion of the sale of Avalanche coins.

The project was able to raise $42 million through the sale of Avalanche tokens, which have the acronym AVAX.

AVAX is a token managed by the Ava Labs project to secure the network through the quota mechanism, and also rely on it to charge the platform fees.

Proceeds from the sale will be used to develop and improve the Avalanche network as described in Blog The project.

John Woo, Project Leader, Ava Labs, said:

Clearly, the market yearned for a project of this nature.

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The success and speed of sale of Avalanche is a testament to the quality of our project, and its impact on institutional and decentralized finance.

Amin Gun Serer, Co-Founder and CEO of Ava Labs, said:

Last week’s sale is an important affirmation of the technology, team and vision behind Avalanche, the latest upcoming milestone for the project.

Thanks to everyone who has contributed to its success so far, and we look forward to welcoming the next waves of people to the Avalanche community.

July 15, 2020 Important date in the history of the Ava Labs project:

On July 15, the Avalanche team and community prepared for a historic event aiming to sell up to 72 million AVAX tokens.

At 10:00 AM EST, our team saw rapidly growing numbers within a random queuing system that ensures fairness to all users.

The waiting list, which already included thousands of people, has opened, with no signs of slowing down demand.

At 11:11 a.m. EDT, both groups A1 and B were filled, leaving group A2 and its newly expanded allocation as the remaining option for buyers.

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At 14:33 p.m., just 4 hours and 33 minutes after the start, the sale ended with all the sales groups completely filled, and buyers were from 100 different countries.

About the public sale of Ava Labs tokens:

With the sale coming to a close, the Ava Labs team answered a series of questions from the crypto community that we’d like to pass along to give you an idea of ​​the sale process and how the project is going:

How are the rules enforced on the General Sale Information page?

Answer: Sharing was prioritized based on specific guidelines prior to the public sale.

Although a handful of people tried to exploit the system, we made sure to examine and treat each case individually.

This means that if an individual exceeds the specified sizes, the tokens are automatically disqualified for sale.

When will AVAX coins be distributed?

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Answer: AVAX tokens will be distributed at the launch of the Avalanche mainnet, and we expect the mainnet to be operational by the end of August.

What are the trading platforms where I can trade AVAX coins?

Answer: AVAX Coins are not officially listed on any trading platform at the moment.

We have seen some trading venues launching AVAX futures contracts, but these are not officially affiliated with us, official exchange partnerships will be announced on Our official accounts on social media.

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