The token sale of the Avalanche blockchain project will start on July 8th.
Avalanche (AVA) is a blockchain based on a new consensus protocol that confirms transactions in less than a second, supports the entire Ethereum development toolkit for smart contracts, and enables the coexistence of millions of full block producers.
For example, the testnet featured more than 1,000 independent block producers from all over the world.
The goal of the project is to create a high-speed smart contract platform that supports other purposes and transaction volumes comparable to the VISA network.
The token sale estimates that almost 70% of the tokens will be issued to investors who want to participate in its ecosystem, while less than 14% will go to private investors.
Already in the testing phase, Avalanche offers full support for the Ethereum Virtual Machine, making it compatible with Truffle Suite, Remix, MetaMask, MEW and all other Ethereum tools.
It also supports sharding, programmability at the application and network level, and Non-Fungible Tokens (NFT).
The native token is AVAX and has a limited supply of 720 million, half of which is on mainnet. It is used as a basic unit of account within the Avalanche network, provides basic security guarantees, and can be used to pay for network operations and services.
In addition, commissions on AVAX transactions are burned, increasing the scarcity of the token over time.
The token sale will begin on July 8th at 10:00 Eastern Standard Time (UTC – 5) and will last until July 22nd, also at 10:00 EST. Participants can purchase tokens through two options, Public Sale Option A and Public Sale Option B. Both options will be available at the same time.
Public Sale Option A (Staking Round #2) allows participants to buy tokens at $0.50 each, following the same lockup program as the private sale, with no upper limit of purchase.
Whereas Public Sale Option B allows participants to buy tokens at $0.85 each, but without lockup and with a maximum purchase amount of $20,000.
A total of 7 million AVAX tokens will be sold at this stage, but if all 7 million tokens are sold before July 15th 10:00 EST, another 5 million tokens will be made available to the public. Any unsold tokens will be absorbed by the Foundation.