AVAX is a capped-supply token. AVAX serves as the base unit of account in the Avalanche network, provides the base security guarantees, pays for operations, and provides a wide suite of utility services. Cap is 720 million AVAX tokens, and 50% of those tokens will be on mainnet. Avalanche is a high-speed smart contracts platform that supports sub-second finality and Visa-level throughput. Avalanche features complete support for the Ethereum Virtual Machine, and thus, Ethereum tooling works out of the box. Truffle Suite, Remix, MetaMask, MEW, and all your other favorite Ethereum tools. The AVAX token forms the in-house payment method for Avalanche, and is used for fee collection during transactions, as well as for incentives and related purposes. Users can also earn passive income by staking their coins on the network. Avalanche provides decentralized asset trading which anyone can launch and use, and does so with a network which is unique in the digital realm in providing subsecond transaction confirmations.
Original author – Kevin Sekniqi
Initial release – 21 September 2020
Development status – Active
Website – info.avax.network