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Bybit, the world’s
second-largest cryptocurrency exchange by trading volume, has partnered with
Avalon Labs to mark the exclusive launch of Avalon Token (AVL) on Bybit Spot.
This collaboration introduces an initiative designed to enhance engagement
within the Avalon ecosystem by offering an incentive-based savings mechanism
through Bybit Earn’s Fixed Savings plans. A total of approximately 10,000 USDT
worth of AVL tokens has been allocated to reward eligible participants, with
APRs of up to 50% available over a structured staking period.
Avalon Labs is the world’s largest issuer of Bitcoin-backed
stablecoins. Building the ultimate on-chain financial hub for Bitcoin, offering
a seamless ecosystem that includes a Bitcoin-backed stablecoin, BTC-backed
lending, yield-generating accounts, and a credit card. Avalon Token (AVL)
functions as the governance token of Avalon Labs. Beyond governance, AVL
incentivizes the integration of USDa into the broader DeFi ecosystem, driving
adoption and potentially boosting sUSDa yields. Staking AVL reduces borrowing
rates for USDa in its lending product, unlocking idle BTC liquidity. sAVL
holders can vote on AVL emission mechanisms, building a Bribe Market to
optimize capital efficiency further.
The total supply of AVL is 1 billion tokens, forming
a core component of the platform’s utility and governance framework.
The event runs from Feb. 12 to Mar. 12, 2025,
allowing AVL holders to access exclusive earning opportunities. AVL is
available through Bybit Spot trading, with conversion support via Bybit
Convert. Fixed Savings plans are structured for a 7-day term at 25%
APR and a 15-day term at 50% APR. Rewards are allocated on a
first-come, first-served basis and distributed daily during the event period.
“Bybit is committed to bringing high-potential digital
assets to our users, and AVL is a prime example of innovation by the largest
issuer of Bitcoin-backed stablecoins,” said Joan Han, Sales & Marketing
Director at Bybit. “With the exclusive launch of AVL and its integration
into Bybit Earn, we’re excited to provide our community with unique
opportunities to maximize their crypto holdings.”
Bybit is the first exchange to list AVL, reinforcing its
commitment to expanding the availability of innovative digital assets. Since
its establishment in 2018, Bybit has become a key player in cryptocurrency
trading, providing access to spot and derivatives markets, earning solutions,
and advanced trading tools. Recognized for its strong security infrastructure
and user-centric experience, Bybit continues to drive advancements within the
digital asset space.
Avalon Labs not only focuses on the lending market but also
introduces cutting-edge synthetic dollar protocols like USDa, offering users
enhanced capital efficiency and liquidity. Avalon seamlessly integrates the
dual advantages of lending and synthetic assets, delivering a more flexible and
efficient DeFi experience.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange
by trading volume, serving a global community of over 60 million users. Founded
in 2018, Bybit is redefining openness in the decentralized world by creating a
simpler, open, and equal ecosystem for everyone. With a strong focus on Web3,
Bybit partners strategically with leading blockchain protocols to provide
robust infrastructure and drive on-chain innovation. Renowned for its secure
custody, diverse marketplaces, intuitive user experience, and advanced
blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering
builders, creators, and enthusiasts to unlock the full potential of Web3.
Discover the future of decentralized finance at Bybit.com.