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

BlockBeats News, June 9th, Avalon Labs, a Bitcoin financial services platform, announced that it has officially burned 80 million governance tokens AVL, worth approximately $16 million, accounting for 44% of the current circulating supply. The tokens burned this time were mainly the portion that was unclaimed by users during the airdrop.

Avalon Labs launched the governance token airdrop event in March 2024, attracting over 100,000 users to participate in claiming, successfully distributing AVL worth $20 million. As the event concluded, the team unifiedly burned the remaining 80 million tokens that were not claimed to control the token supply, entering a deflationary cycle to further solidify the long-term value foundation of AVL.