Avalanche Raises $12M in Private Token Sale Led by Initialized, Galaxy, Bitmain, NGC and Dragonfly Capital
New York, NY - June 25, 2020 (Investorideas.com Newswire) The team behind Avalanche, the highly-scalable, open-source platform for launching decentralized finance (DeFi) applications, has announced that Galaxy Digital, Bitmain, Initialized Capital, NGC Ventures, Dragonfly Capital, and dozens of other individuals have participated in a $12M private sale of its tokens.
The sale's closing follows the success of Avalanche's Denali Testnet, which had over 1,000 full block producing nodes actively staking and participating in the consensus protocol.
"We have purposefully and deliberately established our entire project, structure, and token distribution to deliver fair and open access to the Avalanche network," says John Wu, President of AVA Labs. "We're excited to have private sale participants that are committed to supporting Avalanche, and building an internet of finance driven by, and for, its community."
"For decentralized finance to reach its potential, there must be significant improvements to both the volume and velocity of activity networks can process. Avalanche is achieving both through its innovative approach to consensus and deep understanding of how to build highly-performant networks," says Roger Lim, Founding Partner at NGC Ventures
"Avalanche is solving the biggest challenges in blockchain technology, and is poised to launch a resilient system that is fast, secure, and efficient," says Haseeb Qureshi, Managing Partner at Dragonfly Capital.
Avalanche Foundation Limited, the foundation behind the Avalanche network, and its affiliates will soon be conducting a public sale pursuant to Reg. D Rule 506(c) of the Securities Act of 1933 as an exempt offering and pursuant to the safe harbor under Regulation S of the Securities Act. All investors must be "accredited investors" as defined under Rule 501 of Regulation D or must not be a "U.S. Person" as defined by Regulation S under the Securities Act and meet other suitability standards.
Accredited investors will be required to verify their accredited status in compliance with Rule 506(c). For non-US Persons, participation may be limited to qualified investors or similar designation, as defined by such investors' country or region.
More information on the $AVAX token and eligibility for participation is available at https://info.avax.network.
About AVA Labs
AVA Labs makes it simple to launch financial applications using blockchain technology–with highly scalable and efficient networks, customizable public and private blockchains, the capability to create any digital asset, and more. We are empoweringThe company empowers people to build an open, simple, and democratic internet of finance that enables the world to have a more prosperous future.
AVA Labs was founded by Cornell computer scientists who brought on talent from Wall Street to execute their vision. The company has received funding from prominent firms like Andreessen Horowitz, Initialized Capital, and Polychain Capital, with angel investments from Balaji Srinivasan and Naval Ravikant. www.avalabs.org
Media Contacts:
Patrick Sutton
Director of Communications
Patrick@AVALabs.org
Laura Cooley
Senior Consultant, Wachsman
Laura.Cooley@wachsman.com
More Info:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
