Avalon Labs Burns 80 Million AVL Tokens to Kick Off Deflationary Phase

According to an X post, the tokens, worth approximately $16 million, were unclaimed from the platform’s March 2024 airdrop campaign, which saw $20 million worth of AVL claimed by over 100,000 users. This major burn marks the start of a deflationary cycle, aimed at unlocking long-term value and driving ecosystem growth. Avalon also signaled the launch of a new business expansion phase, promising further developments ahead. Avalon Labs is a bitcoin financial services platform that completed a strategic funding round, led by YZi Labs.