About Avalanche

Avalanche developers claim it is the first blockchain capable of processing smart contracts and performing transactions in less than one second.

AVAX is the native token of the Avalanche platform and has a limited supply of 720 million tokens, 360 million of which were issued simultaneously with the genesis block of the primary network. The remaining 360 million tokens are issued according to a special formula, whereby the release rate of new tokens is between 7% and 12% in the first year.

All fees and charges are paid for using AVAX tokens, which are subsequently burned to decrease the total supply.

AVAX's market capitalization as of early April 2021 exceeded $3.9 billion.