ByBit Partners with Avalon Labs to Launch Exclusive Avalon Token (AVL) on Bybit Spot
Bybit, recognized as the second-largest crypto exchange, has formed a strategic alliance with Avalon Labs—a prominent issuer of Bitcoin-backed stablecoins—to introduce Avalon Token (AVL) exclusively on Bybit Spot. This collaboration paves the way for an incentive-based savings plan accessible through Bybit Earn, aiming to offer participants annual percentage rates (APRs) of up to 50% during a structured staking period.
As part of the launch, around 10,000 USDT worth of AVL tokens will be distributed to eligible users as staking rewards. This initiative forms a core component of Avalon Labs’ mission to establish a top on-chain financial center leveraging BTC-backed lending, yield-generating accounts, credit cards, and a Bitcoin-pegged stablecoin. By staking AVL, holders not only participate in the governance of Avalon Labs but also bolster the adoption of USDa—their flagship synthetic dollar—across the wider DeFi ecosystem. The resulting synergy further boosts sUSDa yields, unlocks idle Bitcoin liquidity, and lowers borrowing costs for USDa.
With a total supply of one billion AVL tokens, Avalon Labs has planned a month-long event—from February 12 to March 12, 2025—during which AVL holders can take advantage of exclusive earning opportunities. Beyond trading AVL on Bybit Spot, users can also utilize Bybit Convert for seamless conversions. Additionally, two fixed savings plans are on offer: 7-day fixed savings at a 25% APR and 15-day fixed savings at a 50% APR. Rewards will be disbursed daily on a first-come, first-served basis during the promotional event.
In commenting on the launch, Joan Han, Sales & Marketing Director at Bybit, highlighted the exchange’s dedication to featuring high-potential digital assets. She emphasized that AVL signifies cutting-edge innovation stemming from Avalon Labs, the largest issuer of Bitcoin-backed stablecoins. With these unique staking and lending programs, Bybit users can potentially maximize their crypto holdings while tapping into novel revenue streams.
Since its founding in 2018, Bybit has gained a strong foothold in cryptocurrency trading, offering robust tools and access to multiple digital-asset markets. Meanwhile, Avalon Labs continues to elevate liquidity and capital efficiency through advanced synthetic dollar protocols such as USDa, empowering users to experience a more dynamic and effective DeFi landscape.
