South Korean cryptocurrency exchange Bithumb has witnessed a successful debut for Avalon Labs' governance token AVL. The token's 24-hour trading volume exceeded Bitcoin's volume on the platform, making it the third-highest trading volume. Avalon Labs is focused on developing USDa, a Bitcoin-backed stablecoin, to establish a Bitcoin DeFi ecosystem. The company aims to create a financial hub for Bitcoin by offering various financial products, including BTC-backed lending, yield-generating accounts, and a Bitcoin-backed credit card. AVL serves as the governance token for the Avalon Labs ecosystem and plays a vital role in community-driven decision-making.



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