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Avalanche Raises $250M for Avalanche9000 Upgrade

Institutional investors bet on Avalanche's next chapter.

Dec 12, 2024 • 1 min read

Avalanche has raised $250 million in a locked token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital to fund its Avalanche9000 upgrade.

What’s the Scoop?

The Avalanche9000 upgrade is set to reduce blockchain deployment costs by 99.9% and transaction costs by 25x, this upgrade is already in testnet.
Over 500 Layer 1 chains are under development on Avalanche, spanning industries like gaming, tokenization, payments, and more.
The decentralized physical infrastructure network (DePIN) platform Uplink has launched on Avalanche, aiming to decentralize internet connectivity.

Bankless Take:

Avalanche's aggressive move to secure $250 million underscores its vision of blockchain scalability and institutional adoption. The Avalanche9000 upgrade could be a game-changer, significantly lowering operational costs and making blockchain applications more accessible. With high-profile investors backing it, Avalanche is positioning itself as a critical player in the next wave of decentralized infrastructure, enhancing the viability of decentralized finance and tokenized assets on its platform.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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