In combination, both Three Arrows, PolyChain, and many others have generously contributed around $230Million in investment for the Avalanche Blockchain.
It’s a wonderful time for Avalanche, as a set of major investments have just landed as the result of their recent exclusive token sale, in which the investors bought the AVAX native tokens from Avalanche. The purchased tokens will give investors the ability to take part in governance voting, helping to the improvement of the platform. The investors are also given financial disclosures of the value of the AVAX token. Currently, the AVAX token has had a huge increase in value, beating its previously recorded highest price, now sitting at roughly $66.69, according to CoinMarketCap. In comparison to equity, it is believed that the purchasing of tokens contributes to the growth of a whole ecosystem rather than be focused on a solo body.
Avalanche and its Future Plans
Avalanche is a blockchain that works on the proof-of-stake methodology, hoping to provide the quickest smart contracts service in the entire crypto space. Avalanche initiated its main operations back in September of last year, and as of now, the blockchain has managed to control 200 plus projects that include popular DeFi firms that include, Tether, SushiSwap, Circle, and a couple of others.
According to the information shared, in addition to Three Arrows and PolyChain, many others also invested in Avalanche that included CMS Holdings, DragonFly, Lyna Capital, and a class of anonymous angel investors and offices. The investment raised will be utilized to power up projects that will help to increase DeFi-based activities on the platform and will also be used in bringing up new utilities that will support the system. Some chunks of the investment will be used to support grants, token transactions, and many other new projects that are going to be working on Avalanche.
Director of the Avalanche Foundation, Emin Gun Sirer, stated that the investment would surely contribute to the enhancement of the DeFi systems, non-fungible tokens and the upbringing of new unique solutions. Emin Gun Sirer refused to provide more information but did give a short signal about systems that would contain “unique asset types.”
In hopes of attracting more DeFi developers, Avalanche introduced a liquidity mining plan last month as an encouragement to bring them in. A similar type of attraction plan has been implemented by other significant blockchains as well.