- Colony Lab, an Avalanche ecosystem developer and accelerator, announced a $10 million investment to support the network’s long-term growth.
- A validator is a participant in a proof-of-stake (PoS) blockchain network, helping maintain security and confirming new transactions sent to the blockchain.
- CEO Elie Le Rest stated, ‘While investing $10 million in the Avalanche ecosystem, we are not just growing Colony Lab – we are developing the long-term potential of AVAX.’
Colony Lab, developer and accelerator of the Avalanche ecosystem, is announcing plans to invest to grow the AVAX ecosystem.
Colony Lab Invests in the AVAX Ecosystem
Colony Lab, an Avalanche ecosystem developer and accelerator, announced a $10 million investment to support the long-term growth of the network. The company mentioned purchasing 500,000 AVAX tokens worth $8 million in the past months, stating that these funds would be used to establish a validator program benefiting AVAX holders.
A validator is a participant in a proof-of-stake (PoS) blockchain network, helping maintain security and confirming new transactions sent to the blockchain. Validators typically accomplish this by staking their tokens to earn rewards.
Colony Lab will also invest in the Colony Avalanche Index (CAI), a yield-bearing token index in the Avalanche ecosystem. This index includes assets like AVAX and Trader Joe’s JOE. Fees generated from production or withdrawals from CAI will be distributed to CLY token stakers from Colony Lab. Rewards obtained from the initial and upcoming validator programs will be directed to the CLY staker community.
Strengthening the Long-Term Potential of AVAX
CEO Elie Le Rest said, ‘While investing $10 million in the Avalanche ecosystem, we are not just growing Colony Lab – we are developing the long-term potential of AVAX.’ He added, ‘Avalanche understands that real blockchain growth comes from expanding use cases, and its technology reflects the vision of creating a more inclusive and customizable blockchain landscape. We are excited to align with Avalanche’s vision and are fully committed to sharing the rewards of our strategic move with our community.’
