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News

Grant Signed for Avalanche Integration with Ledger Hardware Wallet

A grant has been signed to add support for Avalanche in the Ledger hardware wallet.

Nicolas Lemaitre announced, “I just got the news the Avalanche-X grant has been signed today for the implementation for the ledger.”

The date of delivery is October 13, 2020.

Avalanche integration with Ledger hardware wallet

The grant to support Avalanche on Ledger hardware was listed on Avalanche-X, an accelerator that provides resources and funding for developers building on Avalanche.

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Rumors

Which Exchanges Will List AVAX After the Public Sale?

The AVAX token sale starts on July 8 on a website run by AVA Labs, but which exchanges will list AVAX after the sale?

List of tokens being explored by Coinbase, including Avalanche AVAX
Assets being explored by Coinbase, including Avalanche.
Image by Coinbase

U.S. Exchanges

Back in November 2019, Emin Gün Sirer mentioned that AVA Labs was talking to a few exchanges, and pointed out that Coinbase was evaluating Avalanche.

In a blog post in September 2019, Coinbase said they were exploring support for several new assets, including Avalanche. Coinbase and AVA Labs share common investors including a16z and Polychain Capital.

AVA Labs is based in New York, and if they wanted an initial listing on a U.S. based exchange, top options would include Coinbase, Gemini, and Kraken.

On the other hand, the Avalanche Foundation is based in Singapore, and the foundation and its affiliates will be conducting the public sale.

The AVA Ticker

As recently as a few weeks ago [1, 2], AVA Labs still hoped to use AVA as the name and ticker of Avalanche’s native token.

However, Binance-affiliated Travala already has a token named AVA, and that seems to have partially influenced the decision to rebrand Avalanche’s token to AVAX.

It is reasonable to expect that discussions occurred between AVA Labs and Travala or Binance over the ticker symbol. Would the ticker dilemma have any influence on the choice of initial exchanges for AVAX?

Top Contender

AVA Labs team members have said AVAX will be available as soon as possible after the public sale on a top tier exchange. We don’t know which one it will be, but Coinbase is certainly a top contender.

Regardless, given the significant interest around the AVAX public sale, it seems likely that many exchanges will seek to add support for AVAX.

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News

Non-Fungible Tokens: Assets and Collectibles on Avalanche

AVA Labs CEO Emin Gün Sirer talked about non-fungible tokens (NFTs), assets, and collectibles on Avalanche in a series of comments on Telegram.

Really excited about this pic
AVA wallet with non-fungible tokens (NFTs) and collectibles

“Personally, I’m really excited about this pic:,” Sirer stated, followed by an image of the AVA Wallet with sections for NFTs and collectibles alongside fungible assets.

Non-fungible tokens are a special type of digital token representing something unique. For example, NFTs can represent property titles or rare art.

NFTs contrast with currency tokens like AVAX, which are fungible and interchangeable.

Sirer went on to say:

We have uses for NFTs that go far beyond what others have done.

In additional comments, Sirer continued to praise the possibilities offered by NFTs:

NFTs have a huge role to play in DeFi! They aren’t just for rare pepes.

NFTs are pretty amazing and we haven’t seen enough of their potential explored.

In a livestream yesterday Sirer also discussed entirely new kinds of assets, revolutionizing Wall Street, and all the value that is not in blockchain form yet.

It is clear that Sirer sees huge potential for NFTs on the Avalanche network representing a variety of assets.

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News

Upcoming in Avalanche: New Kinds of Assets, Revolutionize Wall Street, Everest Network, Mainnet

AVA Labs CEO Emin Gün Sirer discussed the future of Avalanche in a livestream with Chainlink co-founder Sergey Nazarov on June 26.

We have new digital asset types, some built around oracle information, some entirely new kinds of assets that nobody has ever thought about before.

Change is coming - Avalanche can revolutionize Wall Street.
Photo by Ross Findon on Unsplash

Sirer revealed the next version of the network will be called Everest, following the current network named Denali.

On July 8, there will be a public sale for the AVAX token, and Emin said mainnet will launch at around that time if all goes well.

Ava Labs has lots of exciting things to open up to the world, according to Sirer:

Lots of exciting solutions are coming in the identity space, in the exchange DEX (decentralized exchange) space, in tokens of all kinds, NFTs (Non-Fungible Tokens), and so forth on top of Avalanche. These are all in the pipeline and I’m really excited to see them.

Sirer also described the improvements Avalanche can bring to Wall Street:

We can revolutionize what Wall Street does. We can revolutionize how people buy assets, how they trade them. We can bring wealth to a much broader range of people around the globe. And this is what keeps me going through all this.

Near the end of the livestream, Sirer summarized his goal for the future:

In five to ten years what I would like to do is to have completely redone the financial infrastructure for the globe. Nothing less.

Sirer explained that crypto is not a zero sum game. There’s a lot of value not in blockchain form yet, and he’d like to bring it to a fully functioning, fast, secure platform like Avalanche.

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News

AVAX: The Global Reserve Currency

Kevin Sekniqi, co-founder and COO of AVA Labs, is betting on AVAX becoming the global reserve currency.

Impressed with AVAX: the global reserve currency.
Photo by Ben White on Unsplash

Amidst a busy day fending off a question-wielding mob after the AVAX token sale announcement, AVA Labs team members took a well-deserved break to ponder world domination.

Sekniqi stated, “I’m betting on this being global reserve currency. Selling any would be silly if this becomes acceptable tender.”

Betting on AVAX being the global reserve currency

Echoing a sentiment shared by many cryptocurrency enthusiasts, Sekniqi went on to say, “It’s not about USD. What’s USD if this becomes legal tender? I would never care about USD.”

It's not about USD

Nicolas Lemaitre, a general manager at AVA Labs, may have kicked off the dialog by saying he’s not going to sell AVAX “until we reach the full potential.”

Not going to sell AVAX until we reach the full potential

It is reassuring to see AVA Labs team members eating their own dogfood. We are digging in, too, and so far Avalanche is delicious.

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News

The Most Interesting Details about the AVAX Token Sale

Update: AVAX token sale details were changed since this article was published. Please see the newer article describing the changes. Original article below.

We scoured the Avanet for you and collected the most interesting details about the AVAX public token sale.

Coins for AVAX token sale.
Coins the author is saving for the AVAX sale.
Photo by Michael Longmire on Unsplash

Price Options

  • Option A: $0.50/token with a one year vesting schedule. No maximum purchase amount.
  • Option B: $0.85/token with no lockup. Maximum purchase amount $20,000.
  • Minimum $100 investment.
  • A maximum purchase amount may also be added to Option A.

Payment Options

  • Wire transfers (any fiat currency), BTC, and ETH are confirmed.
  • Working on additional ERC-20 options.
  •  Payments will be sent to regular addresses, not smart contracts.

Quantity

  • Up to 12 million tokens will be sold, in two tranches.
  • Initially, 7 million tokens will be sold. If all 7 million tokens are sold prior to July 15th at 10 a.m. ET, a second allotment of 5 million tokens will be made available.
  • The number of tokens allotted to the public sale may be increased if there is sufficient demand. The additional supply will come from the tokens allotted to the Avalanche Foundation.
If demand for AVAX is a lot higher than we thought we will sell more

Timing

  • The sale will run from July 8, 2020 at 10 a.m. ET until July 22, 2020 at 10 a.m. ET.
  • First come, first served.
  • Targeting July 1 to open registration and KYC. Simple, stable, and quick KYC process.

Exchanges

  • AVA Labs will handle the public sale on their own website.
  • Website tested for 30,000 simultaneous participants to handle traffic of public sale.
  • After the public sale, AVAX will be available as soon as possible on a top tier exchange.

Token Unlocking Schedule

  • Locked tokens can be staked. Staking rewards are not locked.
  • Seed sale, private sale, and public sale Option A tokens vest over one year: 10% unlock at mainnet launch, then 22.5% unlock every three months.
  • Team allocations vest over four years, starting three months after mainnet launch.
  • Avalanche Foundation will receive 19.29% of total AVAX supply, vesting over 10 years.

Accredited Investors

  • For U.S. investors, a financial document such as a bank statement or a signed letter from a CPA is needed to confirm accredited investor status.

More Details

Categories
News

Avalanche Raises $12M in AVAX Private Token Sale

Avalanche raised $12 million in an AVAX private token sale referred to as Staking Round #1.

Photo by Dayne Topkin on Unsplash

Investors included Galaxy Digital, Bitmain, Initialized Capital, NGC Ventures, Dragonfly Capital, and dozens of other individuals.

The private sale of 24 million AVAX tokens occurred in May 2020 and participants paid $0.50 per AVAX token.

This latest private sale follows a seed sale in February 2019 in which investors paid approximately $0.33 per AVAX token for 18 million tokens.

The AVAX tokens from the seed sale and private sale are locked up for one year after mainnet launch.

A public sale of AVAX tokens will start on July 8, 2020. In the public sale, up to 12 million AVAX tokens will be available for $0.50 per token (one year lockup) or $0.85 per token (no lockup).

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News

Official Info about Avalanche (AVAX) Token Sale Released

AVA Labs released official information about the AVAX token sale.

Photo of red and white sale sign
Photo by Claudio Schwarz on Unsplash

The AVA Labs FAQ and the AVA Report FAQ about the AVAX token sale have been updated.

AVA Report will post individual articles with the most interesting news and details about the AVAX token sale.

Categories
News

$AVAX Public Sale Participation Requirements Published

The requirements for participating in the $AVAX public sale have been published on the AVA Labs support website.

All U.S. investors must be accredited investors.

Non-U.S. investors may face similar requirements, depending on their jurisdiction:

For non-US Persons, participation may be limited to qualified investors or similar designation, as defined by such investors’ country or region.

Additional $AVAX token sale details are likely coming soon. In the meantime, AVA Report has an ongoing list of frequently asked questions and answers about the $AVAX token sale.

Categories
News

AVA Rebrands to Avalanche and $AVAX

AVA is rebranding to Avalanche and $AVAX. AVA Labs revealed the new naming conventions for various components of the Avalanche ecosystem in a Medium post.

Infographic showing names of Avalanche, AVA Labs, and $AVAX.
Image from AVA Labs via Medium.
  • The name of the AVA network and platform is now Avalanche.
  • The name of Avalanche’s native token is now $AVAX.
  • The name of AVA Labs, the team supporting the development of Avalanche, will stay the same.

As part of the identity update, the names of several sub-projects and social channels are changing as well.

  • The r/ava subreddit is now r/Avax.
  • The Telegram group is now Avalanche.
  • AVA-X, the accelerator with grants for developers, is now Avalanche-X.
  • AVA Hub, the community growth platform, is now Avalanche Hub.

According to the Medium post, the name changes will consolidate identities and simplify the brand.