Avalon Labs has partnered with Bybit, the second-largest crypto exchange, to launch Avalon Token (AVL) exclusively on Bybit Spot. This partnership introduces an incentive-based savings plan through Bybit Earn.
Participants can earn annual percentage rates (APRs) of up to 50% during a structured staking period. Approximately 10,000 USDT worth of AVL tokens will be distributed to qualified users as rewards.
Avalon Labs is the largest issuer of Bitcoin-backed stablecoins. Their goal is to create a top on-chain financial center for Bitcoin. They offer a seamless ecosystem that includes credit cards, yield-generating accounts, BTC-backed lending, and a Bitcoin-backed stablecoin.
The governance token for Avalon Labs is AVL. This token not only allows for governance but also promotes the integration of USDa into the broader decentralized finance (DeFi) ecosystem, enhancing its adoption and increasing sUSDa yields. Staking AVL helps unlock idle Bitcoin liquidity and lowers borrowing rates for USDa.
The total supply of AVL tokens is one billion. From February 12 to March 12, 2025, AVL holders can access exclusive earning opportunities. Bybit Spot trading will feature AVL, and Bybit Convert will allow conversions. Fixed savings plans are available for 7 days at a 25% APR and 15 days at a 50% APR. Rewards will be distributed daily on a first-come, first-served basis during the event.
Joan Han, Bybit’s Sales & Marketing Director, emphasized Bybit’s commitment to offering high-potential digital assets. She noted that AVL represents innovation from the largest issuer of Bitcoin-backed stablecoins. Bybit aims to provide unique opportunities for users to maximize their crypto holdings.
Since its launch in 2018, Bybit has become a significant player in cryptocurrency trading, offering access to various markets and advanced trading tools. Avalon Labs also enhances liquidity and capital efficiency through innovative synthetic dollar protocols like USDa, creating a more effective DeFi experience.
Judith Faith
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
