The investment will support the Avalanche9000 upgrade, currently in testnet, designed to drastically reduce blockchain deployment and transaction costs. SkyBridge, SCB Limited, Hivemind, Big Brain Holdings, Hypersphere, Lvna Capital, Republic Capital, Morgan Creek Digital, FinTech Collective, CMCC Global, Superscrypt, Cadenza, Chorus One and Tané Labs also participated.
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Avalanche raises $250m locked token sale led by Galaxy Digital, Dragonfly and ParaFi Capital
“The primary goal was to get alignment and incentivize the right kinds of partners to build with,” Avalanche co-founder Emin Gün Sirer told Forbes, who estimates the Avalanche Foundation holds around $3 billion in AVAX tokens. Avalanche previously raised $230 million in a similar token sale led by Polychain in 2021.
