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Avalanche secures $250m for blockchain upgrade
Avalanche, a Layer 1 blockchain project, announced a US$250 million raise through a token sale.
The sale includes a lock-up period for the tokens.
Leading the funding round were Galaxy Digital, Dragonfly, and ParaFi Capital. Other participants included SkyBridge, Morgan Creek Digital, and Hivemind.
The Avalanche Foundation, which reportedly holds about US$3 billion in Avax tokens, plans to use the funds for the Avalanche9000 upgrade.
Recent Avalanche developments
| Timeline |
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17-Mar-2023 🚀 Avalanche developer hires heads for Korea, Japan ops
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25-Mar-2022 🦀 Crabada: The next Axie Infinity?
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10-May-2021 🚀 NGC Ventures launches $20m fund to develop Solana blockchain ecosystem
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03-Oct-2019 🧗♂️ Machine learning professor missing after avalanche disaster in the Himalayas
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16-Apr-2014 🍬 Candy Crush Saga hits China with upcoming tie-in on Tencent’s WeChat
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