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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.
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