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
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?
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.
Kevin Sekniqi, co-founder and COO of AVA Labs, is betting on AVAX becoming the global reserve currency.
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.”
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.”
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.”
It is reassuring to see AVA Labs team members eating their own dogfood. We are digging in, too, and so far Avalanche is delicious.
AVA Labs is rumored to be planning a public sale of the AVA token on CoinList.
AVA Labs has not provided any official details about a public AVA token sale yet, although details are “coming soon.”
Early seed investors paid $0.33 per AVA token. Rumors suggest that the public AVA token sale will allow public investors to buy near the same price as private pre-sale investors, which would be remarkable.
The public AVA token sale was originally planned for July 1, according to a comment last month by Kevin Sekniqi, co-founder and COO of AVA Labs:
Public will have access to tokens to buy as well in a public sale happening on July 1st.
However, the AVA token sale may be delayed as July 1 is only 12 days away, and further details still have not been announced.
While many would prefer an AVA token sale option that allows wider participation from non-accredited investors, navigating compliance and regulatory issues is a complex task.
CoinList offers a token sale management solution including Know Your Customer (KYC) compliance.
Payment options through CoinList currently include ETH, BTC, and USD.
Update: The AVA token sale will not use CoinList.
As a result of disagreement on whether or not to meaningfully increase the transaction capacity of the network, Bitcoin split into two versions: Bitcoin Cash (BCH) and BTC.
Sirer expressed support for Bitcoin Cash, saying:
In contrast, Sirer criticized the approach taken by BTC:
I felt that one of the sides was bending the truth and saying things that were not scientifically correct in order to affect a particular change to the protocol.
They wanted to introduce that SegWit modification and certain economic subsidies and they weren’t honest with their users on that. Neither were they honest about the limitations of the Lightning Network, and it’s only now that people are starting to realize that Lightning Network is limited in capacity.
Looking towards the future, AVA improves the areas that led to the Bitcoin scaling debate. AVA uses a new consensus protocol named Avalanche that provides high throughput. Describing Avalanche, Sirer stated:
It allows AVA to be much faster and to achieve finality in one second. It supports more transactions per second than Visa without compromising decentralization.
In another reference to AVA, Sirer enthused:
But when you come into the space with something that is three orders of magnitude faster, then it changes the whole game.
In the ForkLog interview, Sirer gave a brief overview of his work on cryptocurrencies over nearly two decades, and described how it influenced the AVA platform:
The Avalanche protocol represents the best of what I know, combining features from different projects and the lessons learned, pulling it all together in a new and very fresh approach to creating a value proposition.
The entire interview is worth a read with interesting views on the history and future of AVA, Bitcoin, cryptocurrencies, and blockchain technology.