Avalanche will repurchase the 1.97 million AVAX tokens previously sold to LFG
On October 12th, the Avalanche Foundation announced that it has reached an agreement to repurchase all 1.97 million AVAX tokens sold to the LUNA Foundation (LFG) in April 2022, and is currently awaiting approval from the bankruptcy court.
This move ensures that LFG will not violate the original agreement on token usage restrictions, protects the tokens from being affected by the complexity of liquidation by bankruptcy trustees, and returns 1.97 million AVAX back to foundation holders.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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