Avalanche (AVAX) has received 250 million HKD investment from institutions such as Galaxy Digital, Dragonfly, ParaFi Capital.

Avalanche (AVAX) announced strong support from top investment institutions such as Galaxy Digital, Dragonfly, and ParaFi Capital. The $250 million funding round, participated by 40 investment firms, is said to significantly enhance the scalability and cost-effectiveness of the latest Avalanche9000 upgrade on the blockchain.

Huge investment powers Avalanche9000

Avalanche announced the completion of a $250 million token sale, with investors including leading institutions such as Galaxy Digital, Dragonfly, and ParaFi Capital. The financing attracted participation from over 40 top investment firms, such as SkyBridge, SCB Limited, Hivemind, and Morgan Creek Digital.

Jason Urban, global head of trading at Galaxy Digital, said: "Supporting the growth and scalability of Avalanche and its blockchain protocol is crucial for the future of the industry. We are providing strategic resources and services to Avalanche to promote institutional participation and long-term development, and ensure that it can lead the next wave of blockchain technology."

Avalanche9000 Technical Upgrade

The launch of Avalanche9000 testnet has reduced the cost of blockchain deployment by 99.9% and decreased the transaction cost of C-Chain by 25 times. At the same time, Avalanche9000 has introduced the Retro9000 program, a $40 million incentive program, including $2 million in referral rewards, aimed at supporting developers to build applications within the Avalanche ecosystem.

Dragonfly's managing partner Haseeb Qureshi emphasized, "Avalanche is pushing the boundaries of the blockchain space with its groundbreaking scalability and innovation. The upcoming Avalanche9000 upgrade is an important step in the development of decentralized financial ecosystems. We believe Avalanche has a unique advantage in Web3 and blockchain scalability."

The rise of Avalanche in the field of diverse applications

Avalanche is committed to promoting the next generation of scalable blockchains, with over 500 Layer 1 blockchains currently under development, covering applications such as tokenization of physical assets, reward programs, games, payments, and institutional projects. Mainstream applications such as DeFi Kingdoms, Dexalot, and Off The Grid have demonstrated their strong practicality and transaction volume.

Ben Forman, founder of ParaFi Capital, said, "Avalanche is a key force driving the evolution of on-chain institutional finance, with its fast transaction confirmation, high throughput, and customizable virtual machine making it the ideal platform for issuing and managing tokenized assets. We chose to tokenize part of our latest venture fund on Avalanche, which fully demonstrates our confidence in its technical advantages."

Avalanche Future Outlook

The comprehensive deployment plan of Avalanche9000 will be launched on December 16th. Its mainnet upgrade will greatly improve the scalability of the blockchain, optimize the development process, and provide developers with more complete tools to build decentralized applications.

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