Avalon Labs: Utilizes $1.88M of Monthly Protocol Revenue for AVL Buyback and Burn

BlockBeats News, September 10, Avalon Labs has completed a $1.88 million AVL token buyback and burn. Since June, Avalon Labs has been depositing $1.88 million USDT into Bybit and initiating the buyback process, repurchasing a total of 13,955,164 AVL tokens at an average price of approximately $0.1347. After the buyback was completed, Avalon Labs has burned all the repurchased tokens.

The official announcement stated that the buyback funds were entirely sourced from protocol monthly revenue. Combined with the 80 million AVL tokens burned in June this year, Avalon Labs has now burned tokens equivalent to 37% of the circulating supply in the recent period. This action demonstrates Avalon Labs' long-term commitment to tightly integrating protocol growth with community value.