The Avalanche Foundation raised $250,000,000 via the locked sale of AVAX tokens, which is the native token for the Avalanche Foundation. Avalanche WebThe company is preparing to launch its Avalanche9,000 upgrade, a significant network upgrade.
This investment is a good one. Avalanche 9,000 testnet launchedAvalanche has been upgraded to allow for easier development and deployment of dedicated app networks. “L1s,” Avalanche was formerly known by the name of subnets.
Galaxy Digital Dragonfly ParaFi Capital and more than 40 other venture capitalists participated, but they were the ones who led this transaction.
“Avalanche's upcoming Avalanche9,000 upgrade represents a pivotal step toward advancing the decentralized finance ecosystem,” Haseeb Qureshi is the Dragonfly managing partner. In a Statement. “We believe Avalanche is uniquely positioned to capture the growing momentum in Web3 and blockchain scalability.”
Avalanche was first popularized as a blockchain layer-1 that competed with Ethereum. Avalanche promised faster and cheaper transactions for decentralized apps, also known as dapps. It has become a leading network in the development of such decentralized applications, along with Solana.
Avalanche9,000 will be released in early 2025 and is expected to lower deployment costs by 99.9%. By late November 2018, more than 500 Avalanche L1s had been developed, including popular blockchains like those used by the developers of game apps such as The Grid is Off You can also find out more about the following: Shrapnel.
The Avalanche Foundation will be involved in the launch. incentivizing builders Retro9,000 offers grants of up to 2,000,000 dollars, and a total of 40 million dollars in retroactive grants.
AVAX (Avalanche’s Native Token) has gained more than 10 percent in the last day and now trades for $52.30. According to CoinGecko, its $21 billion in market capitalization makes it the 12th biggest crypto asset.
Andrew Hayward is the editor