Avalanche’s novel blockchain infrastructure is based on the concepts of speed and sustainability. Given the novelty of their technology to achieve these ends, Avalanche was set to have a successful community token sale, and came to Tokensoft to ensure a scalable token sale for their ever-growing community members —all while filtering out bots, whales, and KYC farms.
On July 15 of 2020, Avalanche used Tokensoft to raise $42 Million in just over 4 hours. A combination of Tokensoft’s queuing and registration system along with its fixed-price sale mechanics helped to bring in 11,000 users to bootstrap an authentic, high-quality Avalanche community. Tokensoft's KYC infrastructure provided sybil resistance to the sale, making sure each sale participant is tied to a real human being; in turn, the token distribution was fair and executed as planned, and limited the possibility of negative price action due to speculators who are quick to sell at unlock. The fair queuing system ensured there was a randomized mechanism to being chosen to participate in the sale, and that no one had predetermined priority over the others.
Due to Tokensoft’s fairness-enabling tools, Avalanche was set up to reward their real community and align incentives in a way that allowed for organic, healthy price discovery. We are proud to see the success of Avalanche’s protocol and look forward to watching Avalanche’s continuous innovation.
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