Avalanche (AVAX), the native token of the Avalanche blockchain platform, is now available for commission-free trading on cryptocurrency exchange Voyager Digital. This marks the first opportunity for U.S.-based retail users to purchase AVAX.
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. It is the first smart contracts platform that confirms transactions in under one second, supports the entirety of the Ethereum development toolkit, and enables millions of independent validators to participate as full block producers.
Led by Professor Emin Gün Sirer, creator of the first coin minted through proof-of-work in 2003, and supported by pioneering researchers from Cornell University, Avalanche is built on the third major breakthrough in distributed systems, and first since the Bitcoin whitepaper in 2008.
AVAX is a hard-capped, scarce asset that is used to pay for fees, secure the network through staking, and provide a basic unit of account between the multiple subnetworks created on the Avalanche platform.
“U.S. users have been beating down the door to get their hands on AVAX, and that’s now possible through our listing on Voyager,” says John Wu, President of Ava Labs, the team behind the Avalanche blockchain. “Avalanche can, and I believe will be the network that brings institutional and decentralized finance together, seizing the vast potential of a new market structure defined by velocity, efficiency, and innovation in new products and services available to people around the world.”
In listing assets for trading, Voyager considers several factors, including but not limited to: security, regulatory framework, liquidity, investor demand, and overall function of the crypto asset.
“We are excited to list AVAX on our platform, giving our users another exciting asset to trade,” said Steve Ehrlich, Co-Founder, and CEO of Voyager Digital. “Voyager now offers investors an industry-leading 55 digital assets to invest in, 22 of which offer interest. Looking ahead, we will continue to increase our available tokens as more users gravitate to Voyager as the most consumer-friendly, easy-to-use platform for trading digital assets, commission-free.”
Avalanche is backed by leading investors, including Andreessen Horowitz, Initialized Capital, Galaxy Digital, Polychain Capital, Bitmain, Naval Ravikant, and Balaji Srinivasan (former CTO of Coinbase), and raised $42M in just 4.5 hrs in a public sale this July.