Avalanche to buy back 1.97 million AVAX tokens previously sold to LFG
2024-10-12 02:44:41
On October 12, 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, currently awaiting approval from the bankruptcy court. The move ensures that LFG does not violate the original agreement's restrictions on token use and shields the tokens from the complexities of liquidation by the bankruptcy trustee, while returning 1.97 million AVAX to the foundation's holders.
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